Don’t just invest in oil and gas infrastructure. Invest in renewables and digital infrastructure with the MainStay CBRE Global Infrastructure Megatrends Fund (MEGI), recommends Tim Melvin, editor of Underground Income.

MEGI isn’t the only infrastructure investment fund out there. But it has a slightly different approach than other energy infrastructure funds. This fund is investing in energy assets that are being upgraded to be a part of not just today’s energy market, but tomorrow’s as well.

Specifically, they are buying into existing infrastructure for oil and gas that are also preparing for a renewable future. Plus, the fund is investing directly in renewable projects, including solar and wind energy, around the world.

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What’s more, the CBRE Global Infrastructure Fund is buying into digital infrastructure in foreign and domestic markets. The world is changing rapidly, and digital infrastructure will be as important as roads and bridges in a world that is developing.

I am still wildly bullish on oil and gas, but renewable and digital infrastructure is going to be the future. You want to be invested in these areas of the infrastructure market as well as in more traditional infrastructure funds.

The fund was recently trading at about a 15% discount to NAV with an 8.6% yield.

Recommended Action: Buy MEGI.

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