| The manager uses a bottom-up process to identify investments, however, certain investment themes tend to emerge as the portfolio is constructed. Some of our current themes include:
Electrification and grid developments – the replacement, expansion, and development of more advanced electricity grid infrastructure to accommodate distributed renewable generation and increased load from electric vehicles.
Efficiency solutions – includes the implementation of advanced metering, sensors and controls, energy recovery, and other ICT applications for utilities and industrial processes.
Alternative energy developers and operators – the growth outlook, margin stability, and valuation are all more attractive for renewable energy developers than their equipment suppliers.
Mass Transportation – public transit, freight rail, advanced tolling and traffic management will benefit from the trends of higher energy costs and increased urbanization.
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