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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)

#360348

Postby richfool » November 26th, 2020, 4:26 pm

PrefInvestor wrote:
richfool wrote:A couple of recent This is Money articles about environmental/green investing:


Hi Again richfool, I see INRG went over 1000p for a while today, on Bidens win I guess, it fell back a bit later though. Still nicely in profit having reentered at about 915p.

ATB

Pref

INRG has virtually no dividend at all (under 1%) which puts me off, along with its significant volatility. I do hold IEM, but I would prefer to get at holdings like Vestas and Siemens (through a collective), which INRG does..

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Re: Investing in Green Infrastructure Funds (ITs)

#361243

Postby sunnyjoe » November 29th, 2020, 6:08 pm

richfool wrote:
PrefInvestor wrote:
richfool wrote:A couple of recent This is Money articles about environmental/green investing:


Hi Again richfool, I see INRG went over 1000p for a while today, on Bidens win I guess, it fell back a bit later though. Still nicely in profit having reentered at about 915p.

ATB

Pref

INRG has virtually no dividend at all (under 1%) which puts me off, along with its significant volatility. I do hold IEM, but I would prefer to get at holdings like Vestas and Siemens (through a collective), which INRG does..


Would that be Siemens Gamesa Renewable Energy SA (SGRE) or Siemens Energy AG (ENR) which owns 67% of SGRE and was recently split out of Siemens AG (SIE)?

I hold some ENR. They are also developing energy storage (battery and other) and hydrogen from electrolysis

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Re: Investing in Green Infrastructure Funds (ITs)

#361267

Postby richfool » November 29th, 2020, 7:44 pm

sunnyjoe wrote:Would that be Siemens Gamesa Renewable Energy SA (SGRE) or Siemens Energy AG (ENR) which owns 67% of SGRE and was recently split out of Siemens AG (SIE)?

I hold some ENR. They are also developing energy storage (battery and other) and hydrogen from electrolysis

INRG holds Siemens Gamesa Renewable Energy SA (SGRE).

https://www.hl.co.uk/shares/shares-sear ... rgy-ca-ord

https://www.hl.co.uk/shares/shares-sear ... -ucits-etf

I would want to hold those sorts of stocks through a collective.

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Re: Investing in Green Infrastructure Funds (ITs)

#361425

Postby richfool » November 30th, 2020, 1:08 pm

I have pondered about GRID (Gresham House Energy Storage Fund), (or even GSF Gore Street Energy Storage Fund), but suspect that they are more about running storage facilities rather than developing new technologies related to storage, and that as such they may, like the renewable energy (solar and wind) trusts, end up with constant fund raising offers, undermining their SP's, rather than any real growth prospects, not to mention trading at large premiums because of the high yields on offer.

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Re: Investing in Green Infrastructure Funds (ITs)

#362206

Postby richfool » December 2nd, 2020, 1:46 pm

Following on from my preceding post, does anyone have any ideas on what IT's or investment companies would provide exposure to renewable energy from the perspective of companies that develop or manufacture the equipment or components ("pick-axes") required to build the wind turbines, solar farms, storage facilities, etc?

I would prefer to access these through an IT or collective, as opposed to holding companies like Vestas or Siemens directly.

I currently hold IEM. INRG looks appropriate, though I am put off by its negligible dividend and the fact the SP is at a high.

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Re: Investing in Green Infrastructure Funds (ITs)

#362363

Postby ukfire » December 2nd, 2020, 7:18 pm

richfool wrote:I have pondered about GRID (Gresham House Energy Storage Fund), (or even GSF Gore Street Energy Storage Fund), but suspect that they are more about running storage facilities rather than developing new technologies related to storage, and that as such they may, like the renewable energy (solar and wind) trusts, end up with constant fund raising offers, undermining their SP's, rather than any real growth prospects, not to mention trading at large premiums because of the high yields on offer.


Gore Street have a placing through PrimaryBid.

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Re: Investing in Green Infrastructure Funds (ITs)

#362376

Postby plodder » December 2nd, 2020, 8:20 pm

does anyone have any ideas on what IT's or investment companies would provide exposure to renewable energy from the perspective of companies that develop or manufacture the equipment or components


The only other trust that I have come across is JGC - Jupiter Green Investment Trust.

ETF wise, if that is of interest then maybe BATG (Legal & General), or CHRG (Wisdom Tree) in the battery arena.

All of these have gone up significantly over the last few months in tandem with INRG.

Hope that is of use,
Plodder

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Re: Investing in Green Infrastructure Funds (ITs)

#362861

Postby richfool » December 4th, 2020, 10:59 am

plodder wrote:
does anyone have any ideas on what IT's or investment companies would provide exposure to renewable energy from the perspective of companies that develop or manufacture the equipment or components


The only other trust that I have come across is JGC - Jupiter Green Investment Trust.

ETF wise, if that is of interest then maybe BATG (Legal & General), or CHRG (Wisdom Tree) in the battery arena.

All of these have gone up significantly over the last few months in tandem with INRG.

Hope that is of use,
Plodder

Thanks Plodder for the additional ideas.

I had a look at the Jupiter Green IT (JGC). It's another one with a negligible yield (well 0.97%) and at a premium (+3.96%), though it seems to hold the stocks I'm looking for. Dod would probably be quick to point out that it's also very small at £45M capitalisation, with a larger spread between buying and selling prices (10p), and the charges are a bit high at AMC: 0.7% plus OC: 1.6%.

So, it could be a case of go for JGC, OR top up IEM (which is less into the stocks I'm really after), OR go for the ETF INRG which has an even lower yield at 0.58%, and has gone up significantly, but better holds the stocks I am after. Currently, I think the choices are in reverse order, i.e. I favour the latter most.

https://www.hl.co.uk/shares/shares-sear ... -ord-gbp.1

https://www.hl.co.uk/shares/shares-sear ... -ucits-etf

https://www.hl.co.uk/shares/shares-sear ... lc-ord-10p

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Re: Investing in Green Infrastructure Funds (ITs)

#364040

Postby richfool » December 8th, 2020, 1:03 pm

A bit more on the pursuit of Sustainable investing, albeit US focused:

U.S. Investors Continue to Endorse Sustainable Investing
Last year’s record for flows was broken in July.
Mentioned: Brown Advisory Tax Exempt Bond Investor (BIAEX) , TIAA-CREF Core Impact Bond Retail (TSBRX) , iShares ESG Aware MSCI EAFE ETF (ESGD) , iShares ESG Aware MSCI USA ETF (ESGU) , American Century Sustainable Equity Inv (AFDIX) , Invesco Solar ETF (TAN) , iShares Global Clean Energy ETF (ICLN)

Sustainable funds in the United States have attracted a record $30.7 billion in net flows so far in 2020. It only took until July this year for sustainable funds to garner more flows than they did in all of 2019, and last year’s $21.4 billion net flow was itself 4 times higher than in any previous year. This year, flows have been averaging about $10 billion per quarter. For the third quarter, estimated net flows totaled $9.8 billion, representing 10% of overall U.S. fund flows.

https://www.morningstar.com/articles/10 ... -investing.


richfool wrote:I had a look at the Jupiter Green IT (JGC). It's another one with a negligible yield (well 0.97%) and at a premium (+3.96%), though it seems to hold the stocks I'm looking for. Dod would probably be quick to point out that it's also very small at £45M capitalisation, with a larger spread between buying and selling prices (10p), and the charges are a bit high at AMC: 0.7% plus OC: 1.6%.

So, it could be a case of go for JGC, OR top up IEM (which is less into the stocks I'm really after), OR go for the ETF INRG which has an even lower yield at 0.58%, and has gone up significantly, but better holds the stocks I am after. Currently, I think the choices are in reverse order, i.e. I favour the latter most.

I continue to look at the above trusts (all at currently high prices), though in the knowledge that I do already have some exposure through: IEM and BERI.

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Re: Investing in Green Infrastructure Funds (ITs)

#365012

Postby sunnyjoe » December 11th, 2020, 9:22 am

https://renews.biz/65055/downing-ipo-raises-1225m/

Downing Renewables & Infrastructure Trust has become a listed entity on the main market of the London Stock Exchange, having raised over £122m...

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Re: Investing in Green Infrastructure Funds (ITs)

#365021

Postby richfool » December 11th, 2020, 9:46 am

sunnyjoe wrote:https://renews.biz/65055/downing-ipo-raises-1225m/

Downing Renewables & Infrastructure Trust has become a listed entity on the main market of the London Stock Exchange, having raised over £122m.

The company raised the £122.5m through a placing to invest in its diversified portfolio of renewable energy generating assets and other infrastructure assets in the UK, Ireland and Northern Europe, targeting a net asset value total return of 6.5% to 7.5% a year over the medium to long term.

The total number of ordinary shares in issue immediately following admission is 122,500,000.

In early November Downing Renewables & Infrastructure Trust announced plans for an initial public offering to raise up to £200m to invest in a diversified renewables portfolio that includes wind, solar, hydro and geothermal along with other infrastructure assets in the UK, Ireland and Northern Europe.

Am I right then in thinking that it raised £122.5m as opposed to the £200M it was looking for?

I note it is trading at 100p.

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Re: Investing in Green Infrastructure Funds (ITs)

#365032

Postby UncleEbenezer » December 11th, 2020, 10:10 am

ReallyVeryFoolish wrote:I think you are right. I decided not to invest after considering it. I wonder why it was undersubscribed when all recent offers in the industry have been scaled down due to oversubscription? Lack of track record perhaps? (Recent GRID open offer was scaled back).

RVF

Wouldn't an obvious comparison be the ORIT launch of last December (featured in this very thread)?

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Re: Investing in Green Infrastructure Funds (ITs)

#368147

Postby richfool » December 20th, 2020, 6:58 pm

A Citywire article about China's EV's and green infrastructure, which includes reference to IEM and SMT:

https://citywire.co.uk/wealth-manager/n ... e/a1425369

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Re: Investing in Green Infrastructure Funds (ITs)

#368338

Postby Bouleversee » December 21st, 2020, 1:12 pm

Am pleased to see SMT have a reasonable holding in Nio, which encourages me to top up SMT on a dull day.

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Re: Investing in Green Infrastructure Funds (ITs)

#371532

Postby UncleEbenezer » December 31st, 2020, 7:49 am

Anyone looking to invest tax-efficiently in this field might like to take note, Foresight Solar & Technology VCT are fundraising.

This was formerly Foresight Solar VCT, whose business was solar generation companies, in the manner of the ITs featured in this thread. Then the VCT rules changed to disallow new VCT investment in solar or wind farms, so that's a legacy portfolio. This particular VCT changed its investment mandate so it could continue.

It was an excellent investment over the period I held: a yield just north of 6% and a small capital gain, in addition to the tax advantages. That is, we presume, why the government changed the rules: VCTs shouldn't be a gravy-train! On the other hand, Foresight's record in VCTs more widely has been patchy, with some big winners and big losers, so not one for the faint-hearted.

I haven't read the prospectus, but I presume the funds raised will be invested in the "& Technology" portion. Whether that has a clear focus on technologies relevant to Solar or diverges from the original theme, I couldn't say. So this is just a heads-up to DYOR.

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Re: Investing in Green Infrastructure Funds (ITs)

#372702

Postby richfool » January 3rd, 2021, 3:13 pm

richfool wrote:I have pondered about GRID (Gresham House Energy Storage Fund), (or even GSF Gore Street Energy Storage Fund), but suspect that they are more about running storage facilities rather than developing new technologies related to storage, and that as such they may, like the renewable energy (solar and wind) trusts, end up with constant fund raising offers, undermining their SP's, rather than any real growth prospects, not to mention trading at large premiums because of the high yields on offer.

I'm still looking at these two, as I would like to have increased my exposure to storage facilities. Noted that GSF, very much the minnow of the two, recently raised more funds, and both are trading at significant premiums. It could be the usual case of good dividend yield at a premium, but with little capital upside prospects.

GSF - Yield: 6.6% Prem: 11.2%
GRID - Yield: 6.2% Prem: 13.6%

Source: viewtopic.php?f=31&t=27094&p=371883#p371883

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Re: Investing in Green Infrastructure Funds (ITs)

#372827

Postby Spet0789 » January 3rd, 2021, 8:26 pm

UncleEbenezer wrote:Anyone looking to invest tax-efficiently in this field might like to take note, Foresight Solar & Technology VCT are fundraising.

This was formerly Foresight Solar VCT, whose business was solar generation companies, in the manner of the ITs featured in this thread. Then the VCT rules changed to disallow new VCT investment in solar or wind farms, so that's a legacy portfolio. This particular VCT changed its investment mandate so it could continue.

It was an excellent investment over the period I held: a yield just north of 6% and a small capital gain, in addition to the tax advantages. That is, we presume, why the government changed the rules: VCTs shouldn't be a gravy-train! On the other hand, Foresight's record in VCTs more widely has been patchy, with some big winners and big losers, so not one for the faint-hearted.

I haven't read the prospectus, but I presume the funds raised will be invested in the "& Technology" portion. Whether that has a clear focus on technologies relevant to Solar or diverges from the original theme, I couldn't say. So this is just a heads-up to DYOR.


Having taken a quick look, the offer is for a new share class. As you suspected, it will only give exposure to the technology investments with no exposure to the old solar investments.

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Re: Investing in Green Infrastructure Funds (ITs)

#372962

Postby richfool » January 4th, 2021, 11:41 am

richfool wrote:
richfool wrote:I have pondered about GRID (Gresham House Energy Storage Fund), (or even GSF Gore Street Energy Storage Fund), but suspect that they are more about running storage facilities rather than developing new technologies related to storage, and that as such they may, like the renewable energy (solar and wind) trusts, end up with constant fund raising offers, undermining their SP's, rather than any real growth prospects, not to mention trading at large premiums because of the high yields on offer.

I'm still looking at these two, as I would like to have increased my exposure to storage facilities. Noted that GSF, very much the minnow of the two, recently raised more funds, and both are trading at significant premiums. It could be the usual case of good dividend yield at a premium, but with little capital upside prospects.

GSF - Yield: 6.6% Prem: 11.2%
GRID - Yield: 6.2% Prem: 13.6%

Source: viewtopic.php?f=31&t=27094&p=371883#p371883

Well I've just bought some GSF., at £1.048, the higher yielder of the two and at a slightly lower premium than GRID.

I haven't manged to get near INRG, it's on another tear currently (up 3% at 1227p)!

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Re: Investing in Green Infrastructure Funds (ITs)

#373975

Postby sunnyjoe » January 6th, 2021, 5:28 pm

https://renews.biz/65531/foresight-mull ... hange-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/

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Re: Investing in Green Infrastructure Funds (ITs)

#374017

Postby richfool » January 6th, 2021, 6:38 pm

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.


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