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By James RUTLAND, Fund Manager, Invesco
Utilities have long been perceived as slow growing, defensive stocks within a portfolio. We believe we are on the cusp of a change here.
COP 26 to be held in Glasgow at the start of November, aims to reinforce the global net zero agenda, which has been given fresh impetus as a tool for governments to drive economic recovery post COVID-19. This is without doubt an ambitious target, but it will kickstart a 30-year phase of structural growth that involves a significant step up in investment across almost every industry. The electrification of everything is the most profound change and as such, utilities the most obvious beneficiary from a stock market perspective.
We expect the net zero...
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