Greencoat UK Wind's new management is key to maintaining confidence in its strategy going forward, says broking house Stifel.
The wind farm investor recently announced Laurence Fumagalli is to step down with Matt Ridley appointed as co-head of the investment management team.
Stifel said that Fumagalli's decision to leave the day-to-day management of the listed fund portfolio is no great surprise, given he has been involved in the fund since its launch around ten years ago.
"To date, the only two senior managers that have presented at analyst meetings and other events have been Stephen Lilley and Laurence Fumagalli.
“Therefore, we think the introduction of new members of the team to the investment community is going to be fairly key in retaining investor confidence in the fund and future strategy.
“This will be especially important, as and when, Stephen Lilley announces his intention to step down, potentially at some point in the next couple of years”.