12 months
of powering
progress

Harness a dual investment opportunity that sets the world on a better path with the Regnan Sustainable Water & Waste fund, a sub-fund of Regnan UK Umbrella fund.

A year on from the launch of our sustainable fund and Water & Waste’s potential is only growing. With top quartile performance just 12 months in, it’s quickly reinforcing that there’s no economy without water and no sustainable economy without waste management.

But we believe the fund’s growth over the past 12 months goes further than its cleaner credentials. Our thematic approach continues to capture innovative potential others may miss. And an unconstrained stock selection delivers low-correlation diversification for our investors, while generating good returns.

What is keeping the water and waste opportunity growing?

Several interconnected drivers power the long-term progress of companies exposed to water and waste management. It’s this perpetual opportunity that inspired our investment team to first develop the fund, and that holds true to this day.

Population concentration

Urbanisation is causing more people to live in closer proximity to one another, creating wealth but reducing available resources.

Increased consumption

With more people and more wealth, global economies demand more water and produce greater amounts of waste.

Infrastructure development

In both developed and developing nations, water and waste networks require continuous improvements and adaptation to function.

Supportive regulations

As nations work to meet sustainability targets, the regulatory environment is positive for businesses involved in sustainable water and waste management.

Urgent need

We live in a physically constrained world. Innovation and careful management of these resources is critical to our survival.

Why water and waste matter

Our collective water and waste footprint is much greater than many of us know. And set to grow far beyond what it was when our fund first launched.

Water goes into the production of nearly everything we consume, from the food we eat to the clothes we wear. Waste continues to pile up at an unprecedented rate, as even the most basic household items can take decades to decay.

Waste sources: Regnan; waterfootprint.org, 2021; ‘Let’s be water-wise’ - downtoearth.org, May 2020; Interactive tools -product gallery -Water scarcity. The key challenges in meeting the demand, Credit Suisse, January 2020. Water sources: Regnan; www.thebalancesmb.com, www.saveonenergy.com, www.roadrunnerwm.com

Just the start of our opportunity

By celebrating our fund’s 12-month anniversary, we celebrate economic progress. Because as markets develop, so too does their need for more sophisticated water and waste solutions.

As a result, investors are increasingly seeing these complementary themes as a long-term opportunity, potentially an infinite one.

Continuous need for water generating economic issues

We use more water as population grows (% growth since 1900)

The waste market is doubling over the next decade

Past and projected global waste generation

Three projections to 2100 for waste generation spell very different futures. In the first Shared Socioeconomic Pathway scenario (SSP1), the 7bn population is 90% urbanised, development goals are achieved, fossil-fuel consumption is reduced and populations are more environmentally conscious. SSP2 is the ‘business-as-usual’ forecast, with an estimated population of 9.5m and 80% urbanisation. In SSP3, 70% of the world’s 13.5bn live in cities and there are pockets of extreme poverty and moderate wealth, and many countries with rapidly growing populations.

Source: Regnan, OECD 2013, Nature 31 October 2013. All opinions and estimates constitute the best judgment of Regnan as of the date hereof, but are subject to change without notice, and do not necessarily represent the views of Regnan. *Organisation for Economic Co-operation and Development. *

Stock highlights

The Regnan Water & Waste fund has invested in a whole host of companies, all of them providing sustainable solutions to the world’s current water and waste issues. These are just two of the disruptors our investors have backed in the past year.

American Water Works

One of the largest listed water utilities in North America, AWK provides drinking water, wastewater treatment and other related services in a wide range of states in the U.S. They serve 1,600 communities in 16 US States, offering their services to residential, commercial and industrial customers, generating income from regulated contracts with pass-through clauses for costs and investments that provide for strong visibility of earnings and cash flows.

Named one of Barron’s 100 Most Sustainable companies for 2022, in the last 12 months they’ve saved 3.5bn gallons water through efficiency measures.

Waste Management

Waste Management, Inc. provides waste management services including collection, 3.7 transfer, recycling, resource recovery, and disposal services, and operates waste-to-energy facilities. The Company serves municipal, commercial, industrial, and residential customers throughout North America.

The company converts landfill gas into energy at 124 sites, with 92 of their projects generating 538MW of renewably electricity.

Underlying long-term relative performance

Water and waste present a perpetual dual investment opportunity. Backed by our bottom-up stock selection, we expect the fund’s strategy to outperform the broader market and drive returns.

Sustainability is not a niche interest, but a global concern. This provides a supportive regulatory environment, enhanced by world trends. The long-term growth drivers we’ve already indicated, such as population growth, urbanisation, wealth creation, and ecological concerns also show no signs of letting up.

We’re proud of our last 12 months powering progress. Now we can look forward to the potential that lies ahead.

Regnan Sustainable Water and Waste Fund – A GBP

Performance since inception (13 September 2021) to 13 September 2022

Meet the team

Bertrand Lecourt

Senior Fund Manager

Bertrand leads the Thematic Investing Strategy at Regnan, and is Senior Fund Manager on the Regnan Sustainable Water and Waste Strategy.

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Saurabh Sharma, CFA, CAIA

Fund Manager

Saurabh is part of the Thematic Investing Strategy at Regnan, and is a Fund Manager on the Regnan Sustainable Water and Waste Strategy.

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Freeman Le Page, CAIA

Portfolio Specialist

Freeman is a Portfolio Specialist working alongside Regnan's London-based investment teams, with a focus on impact and sustainable thematic investing.

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Find out more about the dual opportunity of investing in water & waste here Find out more

Get in touch

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