Liontrust Sustainable Future European Growth Fund on Prysmian SpA
Thesis
Liontrust added Prysmian to gain exposure to critical infrastructure required for the energy transition. The company designs, manufactures, installs and services electricity and data transmission cables. Its products are required to connect power generation and transmit power as energy systems move away from fossil fuels. The idea rests on sustained investment in electricity networks and supporting infrastructure.
“It designs, manufactures, installs and services cables used to transport electricity and data.”
Key risks
- Higher interest rates and oil prices could weigh on equity valuations and growth.
- Currency movements could reduce returns from overseas equities.