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Investing in Green Infrastructure Funds (ITs)

Stocks and Shares ISA , Choosing funds for ISA's, risk factors for funds etc
Investment strategy discussions not dealt with elsewhere.
richfool
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Re: Investing in Green Infrastructure Funds (ITs)

#374024

Postby richfool » January 6th, 2021, 6:50 pm

ReallyVeryFoolish wrote:
richfool wrote:
ReallyVeryFoolish wrote:Hoping you dived into INRG the other day? It's up more than 7.5 per cent again today at around 1320p. Very lucky to have bought into this at less than 1000p only a few weeks ago for a family portfolio.

RVF


Grrr, no I didn't, but I did notice it's further upward leap today!!

I added GSF instead.

With respect to INRG, I suspect patience and gravity are your friends. Good luck.

RVF

Well, I thought, if it doesn't work out, I can console myself with the 6.6% yield (albeit at a premium of 12%!).

I have some green exposure through IEM, EGL, TRIG and BERI.

INRG does seem to be defying gravity!

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Re: Investing in Green Infrastructure Funds (ITs)

#375827

Postby ukfire » January 11th, 2021, 12:31 pm

VH Global Sustainable Energy Opportunities IPO this month. Another renewables float, but more global than most. Any thoughts?

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Re: Investing in Green Infrastructure Funds (ITs)

#376804

Postby sunnyjoe » January 13th, 2021, 10:18 pm

sunnyjoe wrote:https://renews.biz/65531/foresight-mulls-london-stock-exchange-ipo/

Renewables investor Foresight Group said it intends to publish a registration document today and is considering proceeding with an initial public offering (IPO) on the London Stock Exchange.


https://www.foresightgroup.eu/
https://www.fsg-investors.com/


https://renews.biz/65671/foresight-confirms-ipo/
Renewables asset manager Foresight has confirmed its intention to proceed with an initial public offering (IPO) and has released certain details of the offer.

PhaseThree

Re: Investing in Green Infrastructure Funds (ITs)

#378927

Postby PhaseThree » January 20th, 2021, 2:20 pm

ukfire wrote:VH Global Sustainable Energy Opportunities IPO this month. Another renewables float, but more global than most. Any thoughts?


This looks potentially interesting and would fill a hole in my portfolio but there is relatively little information or analysis currently available. The best I could find was on citywire.
https://citywire.co.uk/investment-trust ... st-insider
https://citywire.co.uk/investment-trust ... y/a1447698

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Re: Investing in Green Infrastructure Funds (ITs)

#379020

Postby Wyneric » January 20th, 2021, 5:46 pm


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Re: Investing in Green Infrastructure Funds (ITs)

#379027

Postby supremetwo » January 20th, 2021, 6:08 pm



Impressive experience of the investment team and the directors.

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Re: Investing in Green Infrastructure Funds (ITs)

#381440

Postby richfool » January 28th, 2021, 10:02 am

ReallyVeryFoolish wrote:
richfool wrote:
ReallyVeryFoolish wrote:Hoping you dived into INRG the other day? It's up more than 7.5 per cent again today at around 1320p. Very lucky to have bought into this at less than 1000p only a few weeks ago for a family portfolio.

RVF


Grrr, no I didn't, but I did notice it's further upward leap today!!

I added GSF instead.

With respect to INRG, I suspect patience and gravity are your friends. Good luck.

RVF

Green infrastructure funds taking a kicking yesterday and again today. Ironically the ETF, INRG seems to have been hit the most, though IEM and to a lesser extent JGC also suffered. I suspect the sector has been in bubble territory for a while.

Today's movements/falls:
INRG - 6.53 (1201.50p)
IEM - 1.64% (449.76p)
JGC - 3.42% ( 282p)

richfool
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Re: Investing in Green Infrastructure Funds (ITs)

#381445

Postby richfool » January 28th, 2021, 10:14 am

ReallyVeryFoolish wrote:
richfool wrote:
ReallyVeryFoolish wrote:With respect to INRG, I suspect patience and gravity are your friends. Good luck.

RVF

Green infrastructure funds taking a kicking yesterday and again today. Ironically the ETF, INRG seems to have been hit the most, though IEM and to a lesser extent JGC also suffered. I suspect the sector has been in bubble territory for a while.

Today's movements/falls:
INRG -6.53% (1201.50p)
IEM -1.64% (449.76p)
JGC -3.42% ( 282p)

Patience + gravity are your friends there. The higher it goes etc.....

RVF

It/they are going lower, not higher. Quite big drops over the 2 days. I presume you mean by going lower it might provide an acceptable entry point.

What puzzles me is the behaviour of INRG. As an ETF surely it's essentially a tracker. I struggle to believe that the value of the stocks it tracks are that volatile.

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Re: Investing in Green Infrastructure Funds (ITs)

#381452

Postby Dod101 » January 28th, 2021, 10:34 am

Richfool
I do not know about other markets but the London market is down yesterday and down again this morning but I suspect that you are being guilty of trying to micro manage your investment in INRG, about which I know nothing except what I have read recently. You appear to be judging it over a very short time frame. In November last year (that is about three months ago) its price was around 1000p. On 6 January 1320p and now 1201p. Volatility works both ways and there is nothing in the rules to say that if it can rise by 13% in a couple of months it can drop just as much in a few days. It is evidently volatile but that could be because there are a lot of people looking for quick buck when maybe they should be looking five years ahead rather than three months.

Surely green energy of all things at the moment is a theme which you should just buy and allow it to play out over the next 5 years or so.

Dod

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Re: Investing in Green Infrastructure Funds (ITs)

#381461

Postby richfool » January 28th, 2021, 10:50 am

Dod101 wrote:Richfool
I do not know about other markets but the London market is down yesterday and down again this morning but I suspect that you are being guilty of trying to micro manage your investment in INRG, about which I know nothing except what I have read recently. You appear to be judging it over a very short time frame. In November last year (that is about three months ago) its price was around 1000p. On 6 January 1320p and now 1201p. Volatility works both ways and there is nothing in the rules to say that if it can rise by 13% in a couple of months it can drop just as much in a few days. It is evidently volatile but that could be because there are a lot of people looking for quick buck when maybe they should be looking five years ahead rather than three months.

Surely green energy of all things at the moment is a theme which you should just buy and allow it to play out over the next 5 years or so.

Dod

Yes, I appreciate your point that markets were down generally yesterday. My holdings varied between slightly up (property) and down between 1.4% to down 3.4%.

However, INRG was down 6.50% yesterday after falling the day before and it has fallen again today. JGC, a green IT, barely moved yesterday, though is down c 1.17% today and IEM similarly down 1.68% today. Yet INRG is an ETF. A very volatile ETF. I accept your point, - quick to go up, can mean quick to go down, but it puzzles me that a tracker should move markedly more than IT's, all of which are investing in roughly the same stocks.

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Re: Investing in Green Infrastructure Funds (ITs)

#381486

Postby richfool » January 28th, 2021, 11:35 am

I think perhaps I can answer my own question here! I note that INRG's largest holding @8.73%, is Plug Power, an American company, on the NASDAQ, engaged in the development of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity, and which has been enjoying a meteoric rise on the markets. Looking at that and thr other stocks it tracks, it would seem that INRG tracks different and more volatile stocks than the two IT's mentioned IEM and JGC. The latter also invest in various environmentally friendly stocks from a variety of sectors, not just energy or renewables.

I also note that the risk rating shown in the KID's were:

JGC - 3
IEM - 5
INRG- 6 (risk rating from Vanguard's fact sheet, as opposed to a KID risk rating)

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Re: Investing in Green Infrastructure Funds (ITs)

#381511

Postby Dod101 » January 28th, 2021, 12:26 pm

richfool wrote:I think perhaps I can answer my own question here! I note that INRG's largest holding @8.73%, is Plug Power, an American company, on the NASDAQ, engaged in the development of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity, and which has been enjoying a meteoric rise on the markets. Looking at that and thr other stocks it tracks, it would seem that INRG tracks different and more volatile stocks than the two IT's mentioned IEM and JGC. The latter also invest in various environmentally friendly stocks from a variety of sectors, not just energy or renewables.

I also note that the risk rating shown in the KID's were:

JGC - 3
IEM - 5
INRG- 6 (risk rating from Vanguard's fact sheet, as opposed to a KID risk rating)


So you are saying that some at least see it is a higher risk than some similar funds, and thus you could expect it to be more volatile. I do not much like these rather broad based investments unless I know something in detail about the managers because it is just too much of a blank cheque for me. Of course it could do very well, who knows?

Dod

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Re: Investing in Green Infrastructure Funds (ITs)

#381583

Postby UncleEbenezer » January 28th, 2021, 3:05 pm

richfool wrote:
ReallyVeryFoolish wrote:
richfool wrote:
Grrr, no I didn't, but I did notice it's further upward leap today!!

I added GSF instead.

With respect to INRG, I suspect patience and gravity are your friends. Good luck.

RVF

Green infrastructure funds taking a kicking yesterday and again today. Ironically the ETF, INRG seems to have been hit the most, though IEM and to a lesser extent JGC also suffered. I suspect the sector has been in bubble territory for a while.

Today's movements/falls:
INRG - 6.53 (1201.50p)
IEM - 1.64% (449.76p)
JGC - 3.42% ( 282p)


Erm, brief falls? Surely those happen all the bloomin' time! If you think it's the start of a serious fall, tell us why!

More to the point, IEM isn't a green infrastructure fund (I have no knowledge of the others you name). It's far broader than that, more growth-focussed, and expected to offer higher risk/reward than an infrastructure fund.

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Re: Investing in Green Infrastructure Funds (ITs)

#381823

Postby sunnyjoe » January 29th, 2021, 10:26 am

Foresight Solar Fund wants to invest in batteries

https://www.londonstockexchange.com/new ... m/14843308

28 January 2021

Foresight Solar Fund Limited ("Foresight Solar" or "the Company")

Proposed change to Investment Policy, publication of Circular and Notice of Extraordinary General Meeting

The Board of Directors of Foresight Solar Fund Limited, together with the Investment Manager, are pleased to announce the intention to seek shareholder approval to amend the Company's investment policy to allow for up to 10 per cent of the Company's Gross Asset Value ("GAV"), at the time of investment, to be invested into utility scale battery storage system opportunities ("BSS"), the majority of which are currently intended to be located adjacent to the Company's existing PV solar sites....

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Re: Investing in Green Infrastructure Funds (ITs)

#381843

Postby richfool » January 29th, 2021, 11:31 am

UncleEbenezer wrote:
richfool wrote:
ReallyVeryFoolish wrote:With respect to INRG, I suspect patience and gravity are your friends. Good luck.

RVF

Green infrastructure funds taking a kicking yesterday and again today. Ironically the ETF, INRG seems to have been hit the most, though IEM and to a lesser extent JGC also suffered. I suspect the sector has been in bubble territory for a while.

Today's movements/falls:
INRG - 6.53 (1201.50p)
IEM - 1.64% (449.76p)
JGC - 3.42% ( 282p)


Erm, brief falls? Surely those happen all the bloomin' time! If you think it's the start of a serious fall, tell us why!

More to the point, IEM isn't a green infrastructure fund (I have no knowledge of the others you name). It's far broader than that, more growth-focussed, and expected to offer higher risk/reward than an infrastructure fund.


Uncle Eb, I was looking at the situation from the perspective that the falls in INRG were considerably higher than the market generally and more particularly, much higher then the falls of what I saw to be (ETF) INRG's peers. (iShares Global Clean Energy ETF), plus the fact that INRG is an ETF.

With hindsight, I think the key was that INRG tracks a different range of stocks to the holdings of IEM and JGC.

INRG - iShares II plc Global Clean Energy UCITS ETF
IEM - Impax Environmental Markets IT.
JGC - Jupiter Green IT.

PS. What was also at the back of my mind was whether the Environmental sector is in something of a bubble and due for a correction.

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Re: Investing in Green Infrastructure Funds (ITs)

#382633

Postby Wyneric » February 1st, 2021, 7:49 am


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Re: Investing in Green Infrastructure Funds (ITs)

#382642

Postby Dod101 » February 1st, 2021, 8:39 am

The final quote talks of a dividend yield of 'less than 7 per cent', whereas the 'between 9 and 11 per cent' is for a total return. Not sure they can be compared. They can of course claim anything they like for a total return, but that is not to be compared to an existing dividend yield.

I have not yet read the Times article so I am jumping in without seeing that but it sounds to me just like the usual sales stuff we find on preliminary announcements. Industry background of course I do not have.

Dod

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Re: Investing in Green Infrastructure Funds (ITs)

#382652

Postby UncleEbenezer » February 1st, 2021, 9:09 am

Guessing here:

ReallyVeryFoolish wrote:
It is planning to provide higher returns than those on offer from existing listed renewable funds, which invest in and manage renewable assets directly. Instead, it will offer a route into private funds, whose returns are typically greater partly because they invest in developing and building assets as well as acquiring operational ones.


But isn't that exactly what everyone else is doing? How is this "new" approach any different? Maybe it actually isn't?


Not quite. The norm in this sector is to buy operational assets (or at the very least de-risked projects) from their developers. Low risk for investors. And supports entrepreneurs to build, knowing the prospects for exit are strong.

There is crossover. The Ventus VCTs deployed new assets. They've proved for the most part a good investment over their lifetime, with the notable exception of Ventus 2 Ordinary shares, which came a cropper when some of their projects had to be written off, and at their nadir sank below 40p (from £1 launch price). And they were several years before paying any dividend at all, as assets were built. And ironically the VCT rule changes that barred them from new renewable infrastructure investments de-risked them for investors!

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Re: Investing in Green Infrastructure Funds (ITs)

#382971

Postby sunnyjoe » February 2nd, 2021, 9:29 am

UncleEbenezer wrote:Guessing here:

ReallyVeryFoolish wrote:
It is planning to provide higher returns than those on offer from existing listed renewable funds, which invest in and manage renewable assets directly. Instead, it will offer a route into private funds, whose returns are typically greater partly because they invest in developing and building assets as well as acquiring operational ones.


But isn't that exactly what everyone else is doing? How is this "new" approach any different? Maybe it actually isn't?


Not quite. The norm in this sector is to buy operational assets (or at the very least de-risked projects) from their developers. Low risk for investors. And supports entrepreneurs to build, knowing the prospects for exit are strong.


The proposal is to both develop and operate projects. Returns on development have higher risk and reward. They are also lumpy as renewable projects tend to be large and can take many years to reach operational state / sale.

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Re: Investing in Green Infrastructure Funds (ITs)

#387665

Postby sunnyjoe » February 18th, 2021, 10:31 am

TRIG full year results. Significant drop in pre tax profits, mostly due to
- reduced income (Covid power prices)
- foreign exchange losses vs gains previous year

cash dividend cover reduced

target dividend for next year same as this year (no growth)


https://www.trig-ltd.com/investor-relat ... lications#


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