INVESTING IN THE GLOBAL POWER SUPER-CYCLE

Electricity demand is accelerating while generation, grids and flexibility remain constrained. Proxy P invests across this structural shift through two actively managed global equity strategies.

Our fund

A NEW CYCLE FOR POWER

THE OPPORTUNITY

For many years, electricity demand in developed markets showed limited growth.
This is changing.

AI and data centres, electrification, industrial reshoring and growing energy-security requirements are increasing demand for reliable power. At the same time, generation capacity, transmission grids and permitting processes are struggling to keep pace.

We believe this combination creates long-term opportunities across utilities, power generation, grids, storage and energy-transition technologies.

Acceleration in demand Lagging supply Tighter spare capacity

Tighter spare capacity Marginal pricing Higher power prices

THE SOLUTION

ONE STRUCTURAL OPPORTUNITY. TWO STRATEGIES.

Two complementary ways to invest in the structural transformation of global power markets.

Growth / Alpha

Proxy Energy Transition

Current NAV 166.76

MTD -5.78%

YTD 2.80%

ITD 142.3%

High-conviction, long/short exposure to structural change across the global power and energy system.

What drives returns

Structural growth across a broad global opportunity universe
Dispersion between winners and losers
Specialist stock selection and risk management

Portfolio role
Higher return potentail from structural change in the energy system.

Defensive / Cashflow

Proxy Power Utilities

Current NAV 93.78

MTD -4.02%

YTD -6.22%

ITD -6.22%

Long-only exposure to global utilities benefiting from higher power demand, tighter capacity and rising investment needs.

What drives returns

Power volume and pricing upside
Defensive earnings and dividends
Cash-generative, technology-agnostic power assets

Portfolio role
Lower-volatility exposure to the power scarcity theme

Why ProxyP

Proxy P is a specialist investment manager focused on global power and energy markets. Independent and partner-owned, combining deep sector expertise with active, high-conviction investing.