Chris Tanner is stepping back from his position as co-lead manager on the Foresight Environmental Infrastructure Limited trust, according to a London Stock Exchange announcement earlier today.
In his place, Ed Mountney and Charlie Wright will continue to lead as co-managers on the trust, having been in place since 2014 when the trust IPO’d.
Commenting on the decision, Tanner said: “It has been a privilege to have been part of the FGEN management team since the company’s inception, and I am immensely proud of what we have delivered for shareholders.
“Having worked closely with Ed and Charlie for many years, they are outstanding investment managers and are uniquely placed to drive FGEN forward as it executes its long-term strategy.”
He will be stepping back from portfolio management to take on a “new role within the wider business”, he said.
Stephanie Coxon, chair-designate of the trust, said: “Chris has played a central role in developing FGEN since its IPO in 2014, and alongside Ed and Charlie, has built the company into a unique and diversified portfolio of environmental infrastructure assets across the UK and Europe.
“Under his stewardship, the company has delivered more than a decade of uninterrupted dividend growth and consistently strong operational performance across the portfolio.”
According to data from FE fundinfo, the strategy has delivered positive returns for investors over the past one, three, five and 10 years, despite a challenging environment for renewable strategies.
For example, over the past five years the strategy rose 22% in sterling terms, while the average peer in the IT Renewable Energy infrastructure sector slid 14.6%.
See also: Guinness Global Investors acquires Foresight Capital
