FTSE 250 welcomes in green, healthcare and social housing funds

FTSE 250: The growing demand for renewable energy, social housing and, of course,  healthcare featured strongly in last week’s quarterly reshuffle of the London Stock Exchange’s mid-cap rankings:

888 Holdings (888)Online gamingAvast (AST)**Online Security
AO World (AO.)Online retailingBakkavor GroupFresh Food
BBH (BBH)HealthcareElementis (ELM)Personal care
Calisen (CSLN)EnergyForterra (FORT)Building Products
Carnival (CCH)* Cruise shipsGVC (GVC)**On-line Gambling
Centrica (CNA)*Energy & ServicesHomeserve (HSV)**Home Repairs
Civitas (CSH)Social HousingHyve Group (HYVE)Events
Easyjet (EZJ)*Budget airlinesJPM Ind.Inv.(JPLL)Indian investments
JLEN (JLEN)EnvironmentKingfisher (KGF)**Retail & DIY
Lion Trust  (LIO)Fund ManagementMarston’s (MARS)Pubs & Hotels
Meggitt (MGGT)*Aerospace/defenceMcCarthy & StoneHousebuilder
Oxf.BioMedica (OXB)Bio MedicineSenior (SNR)Man/Eng
Scot.Am.Inv.Co (SAIN)Investment fundStage Coach (SGC)Travel

* Down from FTSE 100 ** Up to FTSE100

  • Working on the principle that a second wave of coronavirus infections is more or less inevitable, BB Healthcare Trust’s Paul Major is repositioning the trust’s portfolio accordingly and taking it upmarket. Major believes that the pandemic is ushering in a structural shift in the public’s perception of the healthcare system and that in the near future people will be prepared to pay more for a high-quality level of service.
  • According to the campaigning charity Shelter, the number of social homes being built in the UK is at its lowest for 70 years. There are 1.1 million households who are stuck in limbo on the social housing waiting list and demand is clearly outstripping supply by quite some distance – and has been for many years. What some see as a national disgrace, however, has been turned into an opportunity by Civitas Social Housing (CSH).  Following the acquisition of a portfolio of properties in March 2020, CSH has emerged as one of the UK’s best performing Real Estate Investment Trusts (REITs) and property companies since the Covid-19 pandemic kicked in.
  • Valued at $928 bn three years ago and  expected to top $1.5bn by 2025, the global renewal energy marketplace is turning into one of the most competitive in the world. Despite falling power prices and the onset of Covid-19 the JLEN Environmental Assets Group‘s strategy of investing in established environmental infrastructure assets has so far helped it stay the course.
  • Fate has been less kind to JP Morgan’s Indian Investment Trust, with the protracted lockdown pushing the Indian economy into deep recession and JPLL out of the FTSE 250 at the same time.
  • Other companies leaving the FTSE 250 in the latest reshuffle include Bakkavor Group, Elementis, Forterra, Hyve Group and McCarthy and Stone.