Guinness Sustainable Energy Fund on AECOM
Thesis
The fund owns AECOM as a US-focused design and engineering company with exposure to building efficiency and renewable-energy infrastructure. The managers expect both grid and generation investment to rise as electricity demand accelerates, while efficiency spending is needed to constrain consumption growth. AECOM provides service-based exposure to those project pipelines rather than relying on a single equipment category.
“a US-focused design & engineering business with exposure to building efficiency and the renewable energy build-out”
Key risks
- Infrastructure projects can be delayed
- High interest rates can slow some building and project activity