John Laing Environmental looks beyond wind and solar
Like when a little-known band comes out with a banger and then everyone likes it, John Laing Environmental Assets (JLEN) is looking to tilt its portfolio as its biggest exposures, wind (43%) and solar (25%), have become too much of a scene.
Citing ‘competitive pressure’ in the sectors, JLEN is looking to add more positions to its portfolio in areas like anaerobic digestion (AD), biomass, energy-from-waste and hydro power.
Chris Holmes, co-manager of the trust, believes the ‘opportunity set’ is big for AD in particular, and says it could soon make up more of the portfolio than solar.
The trust’s full-year results on 13 June showed a 5.1% increase in net asset value and 3.2% dividend growth.