Collins Stewart sponsors £175m split cap

Collins Stewart is sponsoring the establishment of a new £175m split capital investment trust that will invest in water, electric power and gas distribution industries, principally in the UK, US, Europe and other OECD countries. Ecofin Limited, a specialist in the environmental, infrastructure and utility sectors, will be the investment advisor, to the Ecofin Water & Power Opportunities trust. Collins Stewart raised £105m for the split through an institutional placing of income and capital shares in the ratio 2:1. The income shares are expected to have an initial yield of 8%.