The Association of Investment Companies (AIC) is renaming its Utilities sector as the Infrastructure Securities sector, the trade body has revealed. The change will take place on 16 December.
The AIC said the sector, which contains just two trusts, will house investment companies with over 80% invested directly in listed infrastructure shares. Current constituents are Ecofin Global Utilities and Premier Global Infrastructure.
AIC CEO Ian Sayers said the move would "assist investors, analysts and industry professionals in understanding the underlying holdings of these investment companies".
"The new sector name is consistent with the wider market view. It will help investors in their research process and inform their investment decisions," Sayers added.
The change is the latest in the AIC's recent restructure of its sectors, which saw 13 new sectors added and 15 others renamed.
The AIC said the name change followed the example of the Property Securities sector, which was created for companies investing in listed shares of property companies.
The AIC continued: "The composition of leading global indices suggests that utilities is now seen as a sub-sector of infrastructure. However, Infrastructure Securities has been kept separate from the existing Infrastructure sector so investors can easily understand whether they are investing in listed or unlisted infrastructure."