Meany returns to utilities

First State's Peter Meany believes utility stocks are beginning to look attractive again, following months of underperformance.

The manager of the £154m Global Listed Infrastructure fund believes prices have neared their bottom and could be poised for a recovery. “Utilities have been left behind in this market uptick, which is why we are underweight these stocks. The increased political and regulatory risks have been reflected in the price, especially for utilities with a big retail presence,” he says. “There has been commentary around what Labour or the Conservatives might do to bring in greater income and help the consumer, and this could see utilities impacted by these political outcomes. “However, we...