Overview
Foresight Environmental Infrastructure Group (formerly JLEN Environmental Assets Group and before that John Laing Environmental Assets Group) invests a diversified portfolio of environmental infrastructure. That is infrastructure assets, projects and asset-backed businesses that utilise natural or waste resources or support more environmentally friendly approaches to economic activity, support the transition to a low carbon economy or which mitigate the effects of climate change. Such investments will typically feature one or more of the following characteristics:
- long-term, predictable cash flows, which may be wholly or partially inflation-linked cash flows;
- long-term contracts or stable and well-proven regulatory and legal frameworks; or
- well-established technologies, and demonstrable operational performance.
We have written a number of notes that explain how the fund works:
- “Vote against discontinuation“, published 18 July 2024, explained why investors should reject the discount-triggered discontinuation vote
- “Backing the green hydrogen revolution“, published in November 2023 looks at JLEN’s green hydrogen assets in more detail
- “Laying the foundations for NAV growth“, published in March 2023, looks at some of JLEN’s newer investments
- “Further portfolio diversification“, published in September 2022, discussed JLEN’s expansion into areas such as controlled environments
- “It’s all about renewables“, published in March 2022, is our annual overview note on this diverse renewable energy trust
- “On the front foot“, published in August 2021, discusses JLEN’s latest acquisitions, which add further diversification to its portfolio
- “Increasingly diversified as green-led recovery looms“, published in February 2021, talks about the fund’s plans to continue to expand its remit
- “Reliable source of income“, published in May 2020, emphasised the attractions of JLEN’s income sources in an environment of dividend cuts
- “Battery storage potential“, published in September 2019, looks at JLEN’s first foray into the battery storage market
- “Life extensions to boost NAV?”, published in March 2019, looks at JLEN’s consideration of extending the economic lives of its wind and solar assets to boost NAV
- “Diversification benefits shine through”, published in 2018, notes how the diversification of JLEN’s portfolio has allowed a smooth ride for investors
- “Anaerobic diversification”, published in March 2018, shows how JLEN’s access to waste and wastewater projects further separates them from their peers
- “Diverse renewables exposure”, published in September 2017, looks at diverse portfolio of JLEN and how they use it maintain long term value
You can access the company’s website here
Fundamentals
Price
Research History
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02 Dec 2024 13 min read
Foresight Environmental Infrastructure – Looking to bounce back
Looking to bounce back Foresight Environmental Infrastructure’s (FGEN’s – formerly JLEN Environmental Assets) recent results were a two-part affair, with its operational assets recording record cash receipts, but the NAV taking a hit as green hydrogen developer HH2E entered administration. The failure of HH2E, which could not attract the required investment to bring forward its […]
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13 min read
Foresight Environmental Infrastructure – Looking to bounce back
Looking to bounce back Foresight Environmental Infrastructure’s (FGEN’s – formerly JLEN Environmental Assets) recent results were a two-part affair, with its operational assets pumping out record cash receipts, but the NAV taking a hit as green hydrogen developer HH2E entered administration. The failure of HH2E, which could not attract the required investment to bring forward […]
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14 min read
Foresight Environmental Infrastructure – Looking to bounce back
Looking to bounce back Foresight Environmental Infrastructure’s (FGEN’s – formerly JLEN Environmental Assets) recent results were a two-part affair, with its operational assets pumping out record cash receipts, but the NAV taking a hit as green hydrogen developer HH2E entered administration (a form of bankruptcy where a third party manages the company to pay creditors). […]
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18 Jul 2024 20 min read
JLEN Environmental Assets – Vote against discontinuation
Vote against discontinuation JLEN Environmental Assets (JLEN) and the wider renewable energy infrastructure sector have traded at a persistently wide discount with investor sentiment continuing to wane. This has triggered the activation of a discontinuation vote at JLEN’s AGM in September. We strongly believe shareholders should vote against discontinuation, taking into account the strong long-term […]
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20 min read
JLEN Environmental Assets – ‘Vote against discontinuation’
‘Vote against discontinuation’ JLEN Environmental Assets (JLEN) and the wider renewable energy infrastructure sector have traded at a persistently wide discount with investor sentiment seemingly continuing to wane. This has triggered the activation of a discontinuation vote at JLEN’s AGM in September. JLEN’s manager strongly believes shareholders should vote against discontinuation, citing its long-term performance […]
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20 min read
JLEN Environmental Assets – Vote against discontinuation
Vote against discontinuation JLEN Environmental Assets (JLEN) and the wider renewable energy infrastructure sector have traded at a persistently wide discount to net asset value (NAV) with investor sentiment continuing to wane. This has triggered the activation of a discontinuation vote at JLEN’s annual general meeting (AGM) in September. We strongly believe shareholders should vote […]
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28 Nov 2023 12 min read
JLEN Environmental Assets – Backing the green hydrogen revolution
JLEN Environmental Assets Investment companies | Update | 28 November 2023 Backing the green hydrogen revolution JLEN Environmental Assets (JLEN) and the wider renewable energy sector have seen discounts widen to unprecedented levels as investor sentiment wavers in the face of higher interest rates. JLEN’s 20.2% discount is hard to fathom given the fundamental strength […]
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12 min read
JLEN Environmental Assets – Backing the green hydrogen revolution
JLEN Environmental Assets Investment companies | Update | 28 November 2023 Backing the green hydrogen revolution JLEN Environmental Assets (JLEN) and the wider renewable energy sector have seen discounts widen as investor sentiment has appeared to waver in the face of higher interest rates. Undeterred, JLEN’s managers are focusing their efforts on laying what they […]
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13 min read
JLEN Environmental Assets – Backing the green hydrogen revolution
JLEN Environmental Assets Investment companies | Update | 28 November 2023 Backing the green hydrogen revolution JLEN Environmental Assets (JLEN) and the wider renewable energy sector have seen discounts to net asset value (NAV) widen to unprecedented levels as investor sentiment wavers in the face of higher interest rates. JLEN’s 20.2% discount to NAV is […]
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31 Mar 2023 19 min read
JLEN Environmental Assets – Laying the foundations for NAV growth
JLEN Environmental Assets Investment companies | Annual overview | 31 March 2023 Laying the foundations for NAV growth In common with its peers, JLEN Environmental Assets (JLEN) experienced an eventful but fruitful 2022. Volatile power prices, rampant inflation, rising interest rates and new taxes buffeted the renewables sector but generally acted as a tailwind for […]
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18 min read
JLEN Environmental Assets – Laying the foundations for NAV growth
JLEN Environmental Assets Investment companies | Annual overview | 31 March 2023 Laying the foundations for NAV growth In common with its peers, JLEN Environmental Assets (JLEN) experienced an eventful but fruitful 2022. Volatile power prices, rampant inflation, rising interest rates and new taxes buffeted the renewables sector but generally acted as a tailwind for […]
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18 min read
JLEN Environmental Assets – Laying the foundations for NAV growth
JLEN Environmental Assets Investment companies | Annual overview | 31 March 2023 Laying the foundations for NAV growth In common with its peers, JLEN Environmental Assets (JLEN) experienced an eventful but fruitful 2022. Volatile power prices, rampant inflation, rising interest rates and new taxes all appeared to buffet the renewables sector but generally acted as […]
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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29 Sep 2022 12 min read
JLEN Environmental Assets – Further portfolio diversification
Further portfolio diversification In recent weeks, JLEN Environmental Assets Group (JLEN) has further diversified its portfolio with three new investments, a battery storage project and two investments in the low carbon and sustainable solutions portion of its portfolio; a controlled environment aquaculture facility in Norway; and a UK glasshouse construction project drawing low-carbon heat and […]
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11 min read
JLEN Environmental Assets – Further portfolio diversification
Further portfolio diversification In recent weeks, JLEN Environmental Assets Group (JLEN) has further diversified its portfolio with three new investments, a battery storage project and two investments in the low carbon and sustainable solutions portion of its portfolio; a controlled environment aquaculture facility in Norway; and a UK glasshouse construction project drawing low-carbon heat and […]
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12 min read
JLEN Environmental Assets – Further portfolio diversification
Further portfolio diversification In recent weeks, JLEN Environmental Assets Group (JLEN) has further diversified its portfolio with three new investments, a battery storage project and two investments in the low carbon and sustainable solutions portion of its portfolio; a controlled environment aquaculture facility in Norway; and a UK glasshouse construction project drawing low-carbon heat and […]
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29 Mar 2022 23 min read
JLEN Environmental Assets – It’s all about renewables
It’s all about renewables The energy sector has reportedly been buoyant over the past 18 months, and the manager of JLEN Environmental Assets (JLEN) thinks that the trust is well-positioned to benefit. Initiatives such as COP26, incoming TCFD regulations and the Russo-Ukrainian crisis, combined with rising inflation and power prices, appear to have heightened the […]
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23 min read
JLEN Environmental Assets – It’s all about renewables
It’s all about renewables The energy sector has been particularly buoyant over the past 18 months, and JLEN Environmental Assets (JLEN) is well-positioned to benefit. Initiatives such as COP26, incoming TCFD regulations and the Russo-Ukrainian crisis, combined with rising inflation and power prices, have only heightened the attractions of renewable energy. The managers have identified […]
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24 min read
JLEN Environmental Assets – It’s all about renewables
It’s all about renewables The renewable energy sector has been particularly buoyant over the past 18 months, and JLEN Environmental Assets (JLEN) is well-positioned to benefit. Initiatives such as the United Nations Climate Change Conference (COP26), new regulations on climate related financial disclosure – TCFD – and the Russo-Ukrainian crisis, combined with rising inflation and […]
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04 Aug 2021 15 min read
JLEN Environmental Assets – On the front foot
On the front foot Even before its recent acquisitions, JLEN Environmental Assets (JLEN) could already boast the most diversified portfolio of its peers. A change in investment policy, approved by shareholders in March 2021, has allowed the company to invest in a wider universe of environmental infrastructure that supports the transition to a low-carbon economy. […]
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15 min read
JLEN Environmental Assets – On the front foot
On the front foot Even before its recent acquisitions, JLEN Environmental Assets (JLEN) could already boast the most diversified portfolio of its peers. A change in investment policy, approved by shareholders in March 2021, allowed it to invest in a wider universe of environmental infrastructure assets that supports the transition to a low-carbon economy. Since […]
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15 min read
JLEN Environmental Assets – On the front foot
On the front foot Even before its recent acquisitions, JLEN Environmental Assets (JLEN) could already boast the most diversified portfolio of its peers. A change in investment policy, approved by shareholders in March 2021, allowed it to invest in a wider universe of environmental infrastructure that supports the transition to a low-carbon economy. Since then, […]
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16 Feb 2021 21 min read
JLEN Environmental Assets – Increasingly diversified as green-led recovery looms
Increasingly diversified as green-led recovery looms JLEN Environmental Assets (JLEN) holds the most diversified portfolio within its peer group. Today, it is asking shareholders to approve a broader definition of environmental assets as well as increased exposure to construction-stage investments. JLEN trades at one of the highest premiums within its peer group. This may reflect its […]
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22 min read
JLEN Environmental Assets – Increasingly diversified as green-led recovery looms
Increasingly diversified as green-led recovery looms JLEN Environmental Assets (JLEN) holds the most diversified portfolio within its peer group. Today, it is asking shareholders to approve a broader definition of environmental assets as well as increased exposure to construction-stage investments. We think that JLEN’s premium, which is one of the highest within its group of […]
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21 min read
JLEN Environmental Assets – Increasingly diversified as green-led recovery looms
Increasingly diversified as green-led recovery looms JLEN Environmental Assets (JLEN) holds the most diversified portfolio within its peer group. Today, it is asking shareholders to approve a broader definition of environmental assets as well as increased exposure to construction-stage investments. We think that JLEN’s premium reflects its asset mix and the accompanying high proportions of […]
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14 May 2020 14 min read
JLEN Environmental Assets – Reliable source of income
Reliable source of income It is hard to gauge the true extent of the damage that the pandemic is inflicting on the global economy, but already many companies have been forced to reduce or suspend dividends. For investors reliant on income, the renewable infrastructure sector offers some sense of security. JLEN Environmental Assets Group’s (JLEN’s) […]
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14 min read
JLEN Environmental Assets – Reliable source of income
Reliable source of income It is hard to gauge the true extent of the damage that the pandemic is inflicting on the global economy, but already many companies have been forced to reduce or suspend dividends. For investors reliant on income, the renewable infrastructure sector offers some sense of security. JLEN Environmental Assets Group’s (JLEN’s) […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Apr 2020 5 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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15 Oct 2019 7 min read
Investment companies quarterly roundup – Third quarter 2019
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford New research Over the third quarter, we published notes on India Capital Growth, Jupiter Emerging & Frontier Income, Montanaro European Smaller Companies, JLEN Environmental Assets, Civitas Social Housing, JPMorgan Russian Securities, International Biotechnology Trust, Aberdeen Emerging Markets, Seneca Global Income & Growth, Standard Life Investments Property Income […]
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09 Sep 2019 22 min read
JLEN Environmental Assets – Battery storage potential
Battery storage potential JLEN Environmental Assets (JLEN) recently added two new revenue streams, hydropower and battery storage, to its already-diverse portfolio. It’s clear from the 16.5% premium to NAV, that investors are drawn to JLEN and its asset mix. In an environment where interest rates are falling, JLEN’s dividend yield (which is well-covered by cash […]
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21 min read
JLEN Environmental Assets – Battery storage potential
Battery storage potential JLEN Environmental Assets (JLEN) recently added two new revenue streams, hydropower and battery storage, to its already-diverse portfolio. It’s clear from its rating that investors are drawn to JLEN and its asset mix. In an environment where interest rates are falling, JLEN’s dividend yield (which is well-covered by cash flow) and high […]
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05 Jul 2019 6 min read
QuotedData’s economic roundup – July 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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15 Apr 2019 6 min read
Quarterly Investment Companies Roundup – First Quarter 2019
Quarterly Investment Companies Roundup – First Quarter 2019 QuotedData news Through the first quarter of 2019, global equities largely clawed back the losses suffered over the final weeks of 2018. How much longer this ten-year bull market can sustain itself is the subject of much debate. US interest rate rises have stalled, reflecting growing cautiousness. Elsewhere, […]
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15 Mar 2019 1 min read
John Laing Environmental Assets Group – Life extensions to boost NAV?
John Laing Environmental Assets Group – Life extensions to boost NAV? John Laing Environmental Assets Group (JLEN) says its NAV per share at the end of December 2018 was 102.8p, up 2.4p over three months. The dividend remains on-track to match the target of 6.51p for the year. Revenue generation was on budget, reflecting above-budget […]
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1 min read
John Laing Environmental Assets Group – Life extensions to boost NAV?
John Laing Environmental Assets Group – Life extensions to boost NAV? John Laing Environmental Assets Group (JLEN) says its NAV per share at the end of December 2018 was 102.8p, up 2.4p over three months. The quarterly dividend payments remain on-track to match the target of 6.51p for the year. The company’s revenue generation was […]
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25 Jan 2019 1 min read
QuotedData review of 2018 – Annual report investment companies
QuotedData review of 2018 – Annual report investment companies 2018 – the return of volatility A trade war, Brexit, US interest rate rises, slowing Chinese growth, a US government shutdown, a dispute over Italy’s budget, the Skripal poisonings, numerous elections – there was plenty to worry about in 2018. A last-minute dive left the US […]
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19 Dec 2018 1 min read
QuotedData’s economic roundup – December 2018
QuotedData’s economic roundup – December 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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12 Sep 2018 1 min read
John Laing Environmental Assets – Diversification benefits shine through
John Laing Environmental Assets – Diversification benefits shine through The UK’s record-breaking summer has been good news for solar power but funds focused exclusively on wind have been faced with fairly low wind speeds. Of course, this situation may well reverse over the winter. John Laing Environmental Assets Group (JLEN) offers renewable energy investors the most diverse […]
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1 min read
John Laing Environmental Assets Group – Diversification benefits shine through
The UK’s record-breaking summer has been good news for solar power but funds focused exclusively on wind have been faced with fairly low wind speeds. Of course, this situation may well reverse over the winter. John Laing Environmental Assets Group (JLEN) offers renewable energy investors the most diverse portfolio in its sector and hence a […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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1 min read
QuotedData’s Economic round up – July 2018
QuotedData’s Economic round up – July 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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11 May 2018 1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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06 Mar 2018 1 min read
John Laing Environmental Assets Group – Anaerobic diversification
John Laing Environmental Assets Group – Anaerobic diversification Unlike other listed renewable energy funds, John Laing Environmental Assets Group (JLEN) has exposure to waste and wastewater projects. A recent move into anaerobic digestion (see page 3) further differentiates it from its peer group and increases the diversification of its portfolio. The adviser likes this area […]
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1 min read
John Laing Environmental Assets Group – Anaerobic diversification
John Laing Environmental Assets Group – Anaerobic diversification Unlike other listed renewable energy funds, John Laing Environmental Assets Group (JLEN) has exposure to waste and wastewater projects. A recent move into anaerobic digestion (see page 3) further differentiates it from its peer group and increases the diversification of its portfolio. The adviser likes this area […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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14 Sep 2017 1 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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06 Sep 2017 1 min read
John Laing Environmental Assets Group – Diverse renewables exposure
John Laing Environmental Assets Group – Diverse renewables exposure Since its launch in March 2014, John Laing Environmental Assets Group (JLEN) has built up a diverse portfolio of wind, solar, anaerobic digestion, waste and wastewater projects. It uses most of the revenue from these to pay its dividends (currently a yield of 5.9%) and the balance goes […]
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1 min read
John Laing Environmental Assets Group – Diverse renewables exposure
Diverse renewables exposure Since its launch in March 2014, John Laing Environmental Assets Group (JLEN) has built up a diverse portfolio of wind, solar, anaerobic digestion, waste and wastewater projects. It uses most of the revenue from these to pay its dividends (currently a yield of 5.9%) and the balance goes to reinvest in new […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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2 min read
QuotedData’s economic round up – July 2017
QuotedData’s economic round up – July 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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07 Dec 2016 1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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10 Dec 2024 1 min read
Foresight Environmental Infrastructure streamlines portfolio with solar asset sale
Foresight Environmental Infrastructure (FGEN) announced that it has completed the sale of 100% of its portfolio of operational rooftop solar assets to AtmosClear Investments for a total consideration of £21.2m. A total of £20.5m is payable upon completion, with a further £0.7m in deferred consideration linked to the satisfaction of certain post-completion obligations. The initial […]
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29 Nov 2024 7 min read
Income 101 – The essentials for your income search
If you look across the investment companies’ space, it is clear there is still strong demand for trusts that can provide investors with an attractive level of income which is reliable and, ideally, has some degree of both inflation protection and capital preservation. Despite the environment of higher interest rates that has prevailed over the […]
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21 Nov 2024 3 min read
Sights set on future for Foresight Environmental Infrastructure
Foresight Environmental Infrastructure (FGEN) announced its interim report for the six months to 30 September 2024. The NAV total return for the period was flat, following the write down of one of its portfolio assets, HH2E, which we discuss below. Prior to this, the NAV total return would have been 2.6%. The company remains on […]
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14 Nov 2024 2 min read
HydrogenOne is not expecting any recovery from HH2E insolvency
HydrogenOne says the local court of Berlin-Charlottenburg has now approved the applications of HH2E and HH2E Werk Lubmin GmbH for self-administration proceedings. HH2E has also appointed restructuring experts to assist with the self-administration process and to seek a buyer for the business. No recovery of the company’s investment is anticipated through the insolvency process. HydrogenOne […]
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08 Nov 2024 1 min read
QuotedData’s weekly news show 8th November 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: JPMorgan Global Core Real Assets (01:57) Weiss Korea Opportunity (05:38) Atrato Onsite Energy (08:59) HH2E administration – HydrogenOne Capital Growth and Foresight Environmental Infrastructure (10:31) Supermarket Income REIT (12:25) This week’s interview was with […]
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3 min read
Renewables – don’t let the sun go down on me
There are plenty of factors which have contributed to the mediocre performance of UK equities over the last few years, both unavoidable and self-inflicted. However, the rationale behind the ongoing sell-off across the renewable energy infrastructure sector, as well as its scale, is one which we struggle to understand. Prior to the pandemic, most if […]
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2 min read
Foresight Environmental Infrastructure provides update on portfolio company HH2E
Foresight Environmental Infrastructure (FGEN) has provided a portfolio update on the announcement that German green hydrogen project developer, HH2E is expected to enter insolvency. FGEN made an initial investment into the green hydrogen sector in January 2023 and has since been working with management at its partner, HH2E AG, to progress the development of several […]
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16 Sep 2024 3 min read
QuotedData’s morning briefing 16 September 2024 – JLEN, ORIT, HGT, BHMG
In QuotedData’s morning briefing 16 September 2024: Edward Warner, Chair of JLEN Environmental Assets, has purchased 15,000 JLEN shares at 95.46p per share, taking his holding to 75,000 JLEN shares. Octopus Renewables Infrastructure (ORIT) has published its interim results for the six months ended 30 June 2024. During the period, ORIT provided an NAV total […]
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16 Aug 2024 1 min read
QuotedData’s weekly news show 16th August 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: JLEN Environmental Markets (0:17) Downing Renewables and infrastructure (6:26) This week’s interview was with Ian Lance from Temple Bar Investment Trust – watch it again here.
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15 Aug 2024 2 min read
JLEN Environmental sells slice of AD portfolio to firm backed by 3i Infrastructure
JLEN Environmental Assets has signed an agreement for the sale of 51% of a portfolio of six gas-to-grid anaerobic digestion (AD) facilities to Future Biogas. The proceeds of the sale are £68.1m, in line with the valuation as at 30 June 2024. JLEN will continue to own the other 49% of the portfolio, as well […]
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21 Jun 2024 3 min read
New name and lower fees for JLEN Environmental
JLEN Environmental Assets (JLEN) reported its annual results for the 12 months ending 31 March 2024. It was a challenging year, with NAV per share declining 7.7% to 113.6p. The portfolio value decreased slightly to £891.9m from £898.5m the previous year. JLEN also reported a negative share price total return of -15.4%, due to a […]
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14 Jun 2024 1 min read
JLEN Environmental Assets refinances its sustainability linked RCF
JLEN Environmental Assets (JLEN) has announced that it has refinanced a three-year facilities agreement providing for a committed multicurrency revolving credit facility (RCF) of £200m. The facility has an uncommitted accordion facility of up to £30m and an uncommitted option to extend for a further year. Taken together, this provides an additional £30m of funding […]
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29 May 2024 2 min read
QuotedData’s morning briefing 29 May 2024 – CTUK, HEFT, JLEN, ASLI, API, CAL
In QuotedData’s morning briefing 29 May 2024: CT UK Capital and Income Investment Trust (CTUK) announced its interim results for the six months to March 31 2024. The company’s NAV total return was 12.9%, outperforming its benchmark index which returned 6.9% over the same period. The share price total return was 9.5%. The dividend for […]
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18 Apr 2024 2 min read
HydrogenOne announces HH2E restructuring
HydrogenOne Capital Growth has announced a change to the corporate structure of its invetsment in HH2E (the German developer of hydrogen production plants). HH2E is backed by HydrogenOne and Foresight Group (including JLEN Environmental Assets). They have investments in HH2E itself, and separately into project-specific special purpose vehicles (SPVs) managed by HH2E. HydrogenOne has invested […]
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16 Feb 2024 3 min read
QD view – Inflation Scare
With inflation rates much reduced, investors became convinced in October that interest rates had peaked. Share prices in the renewables and infrastructure sectors began to rise while yields began to fall and there was a sense that as we entered 2024 we had passed the worst of the sell-off in those sectors. However, as the […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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04 Dec 2023 3 min read
QuotedData’s morning briefing 4 December 2023 – GSF, SEQI, SYNC, SBO, INOV, IGC, JLEN, SEIT
In QuotedData’s morning briefing 4 December 2023: Gore Street Energy Storage Fund (GSF) has announced that its investment manager, Gore Street Capital, has been selected as the co-manager of Japan’s first dedicated fund for grid storage batteries, with the Tokyo Metropolitan Government as the cornerstone investor, contributing £10.6m to the fund. Sequoia Economic Infrastructure Income Fund […]
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27 Nov 2023 1 min read
QuotedData’s morning briefing 27 November 2023
In QuotedData’s morning briefing 27 November 2023: JLEN Environmental Assets (JLEN) released its half year results for the period ending 30 September 2023. Its NAV decreased from 123.1p per share to 119.7p over the 6 months. JLEN reported a NAV total return of 1.4% over the period, with its overall portfolio valuation remaining flat at […]
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02 Oct 2023 2 min read
QuotedData’s morning briefing 2 October 2023 – ICG, TMI, PEY, AERI, MWY, AIRE, SERE, JLEN
In QuotedData’s morning briefing 2 October 2023: India Capital Growth Fund (ICG) has announced that its investment manager, Ocean Dial Asset Management, has been acquired by AssetCo. As a result ICG will come under the River and Mercantile brand in due course, which will increase the resources available to ICG. Taylor Maritime Investments (TMI) has […]
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03 Aug 2023 1 min read
Modest hit to JLEN Environmental NAV from rising discount rates
JLEN Environmental Assets says that its unaudited NAV at 30 June 2023 was £801.4m or 121.1p per share. This is a decrease of 2.0p per share since 31 March 2023, after paying the quarterly dividend of 1.8 per share. What drove the change? Power and gas price fixes secured above previous valuation assumptions (+0.4p); higher […]
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28 Jul 2023 3 min read
QD view – The new reality for renewables
In light of our upcoming investment trust forum on the 5th of October, I thought I would take this opportunity to look at one of our panel discussion topics. As the title suggests, it focuses on what the future might look like for renewable energy investments. The bulk of the exposure to this theme is […]
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14 Jul 2023 4 min read
QD view – Infrastructure sits on solid foundations
Having been one of the few ports in the storm of 2022, it has been a dismal start to the year for infrastructure trusts. Every fund across the three main infrastructure sectors – infrastructure, infrastructure securities and renewable energy infrastructure – is down in share price terms for the year to date. For some of […]
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11 Jul 2023 1 min read
JLEN Environmental Assets expands green hydrogen investment
JLEN Environmental Assets Group (JLEN) announced its investment up to the value of €9.2m into the company’s second green hydrogen development opportunity, in Germany, alongside a consortium including other Foresight managed funds and its development partner HH2E, a specialist in developing green hydrogen projects to decarbonise industry. The green hydrogen production site is located in […]
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15 Jun 2023 2 min read
Shareholders have doubled their money in reassuringly resilient JLEN
JLEN Environmental Assets Group has published results for the year ended 31 March 2023. The share price rose from 112.8p to 119.6p, shareholders have now more or less doubled their money since IPO. Shareholders will be able to hear from the managers and ask questions at a special online event to be held next Wednesday […]
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01 Jun 2023 1 min read
Battery projects up and running for JLEN and Harmony
JLEN Environmental Assets says that its first grid-scale battery project, the West Gourdie 50MW lithium-ion plant, has started commercial operations. The announcement notes that battery energy storage systems are playing an increasingly important role in the energy transition and the West Gourdie plant, situated in Dundee, Scotland, will provide critical balancing support to the GB […]
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18 May 2023 2 min read
QuotedData’s morning briefing 18 May 2023
In QuotedData’s morning briefing 18 May 2023: JLEN Environmental Assets (JLEN) NAV at end March 2023 slipped very marginally (0.4p) from the level at end December. Falling near-term power prices, which have affected other renewable energy funds, are less impactful on JLEN, which has a high degree of protection from short term price hedges as […]
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16 Feb 2023 2 min read
Quoted Data morning briefing 16 February 2023
In QuotedData’s morning briefing 16 February 2023: Atrato Onsite Energy (ROOF) has announced the signing of a new power purchase agreement (PPA) with Tesco for a 370kWp new rooftop solar project on a supermarket site in Thetford, Norwich which will commence in Q2 2023. This will represent the first installation between the company and Supermarket […]
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10 Feb 2023 1 min read
QuotedData’s morning briefing 10 February 2023
In QuotedData’s morning briefing 10 February 2023: JLEN Environmental Assets Group (JLEN) says that Nadia Sood has been appointed to its board as a non-executive director with effect from 10 February 2023. The announcement says that Nadia brings extensive experience of executing and managing complex infrastructure investments ranging in size across multiple international markets. She […]
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27 Jan 2023 1 min read
QuotedData’s weekly news show 27th January 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • JLEN / HydrogenOne (0:42) • US Solar Fund (9:27) • Henderson Eurotrust (10:33) This week’s interview was with Eileen Fargis from Ecofin US Renewables […]
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26 Jan 2023 1 min read
JLEN and HydrogenOne investing in green hydrogen
JLEN Environmental Assets and HydrogenOne Capital Growth are making their first investments into the green hydrogen sector. JLEN is buying a 33% equity stake in Foresight Hydrogen Holdco GmbH. Foresight Hydrogen Holdco holds a 75% stake in HH2E Werk Thierbach GmbH, a Special Purpose Vehicle which owns the development rights to the Thierbach green hydrogen […]
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24 Jan 2023 1 min read
QuotedData’s morning briefing 24 January 2023
In QuotedData’s morning briefing 24 January 2023: JPMorgan Global Income & Growth (JGGI) says its C share portfolio now has 77% commonality with its ordinary share portfolio. The C share portfolio contains holdings from JPMorgan Elect Managed Growth that the managers thought it might take some time to sell. The board decides when the time […]
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28 Nov 2022 2 min read
JLEN Environmental Assets half-year results
JLEN Environmental Asset (JLEN) has reported its half year results, for the six-month period ending 30 September 2022. JLEN reported a NAV of £890.2m, equal to 125.4p per share, an increase from the £795.4m it reported on 31 March 2022. JLEN has generated a share price total return of 92.4% since its IPO, equal to […]
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18 Nov 2022 1 min read
QuotedData’s weekly news show 18th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Long Term Assets • Renewables windfall tax This week’s interview was with Jeff O’Dwyer from Schroder European REIT – watch it again here. previous […]
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11 Nov 2022 7 min read
QD view – JLEN Environmental Assets – a world of possibilities!
This week, I had the opportunity to join a capital markets day for JLEN Environmental Assets (JLEN). The event, which was well attended, provided us with a useful update on JLEN’s strategy (which was welcome in light of current market conditions). We also had a presentation from Sten Falkum (CEO of Hima Seafood) and Heidi […]
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30 Sep 2022 1 min read
JLEN and Foresight Solar announce purchase of a 49.9MW battery project
JLEN Environmental Assets (JLEN) and Foresight Solar (FSFL) have announced the acquisition of Gigabox No 4 Limited, which holds the development rights to construct a 49.9MW lithium-ion battery energy storage plant based in Angus, Scotland. Both parties are taking a 50% equity stake in the project which will see each of them invest up to […]
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14 Sep 2022 1 min read
JLEN Environmental Assets makes first investment in commercial glasshouse controlled environment space
JLEN Environmental Assets makes first investment in commercial glasshouse controlled environment space – JLEN Environmental Assets (JLEN) has invested up to £26.7m into a glasshouse project via a combination of a senior secured loan for the construction of the glasshouse and a convertible loan and a minority equity stake in the glasshouse operator to provide […]
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05 Aug 2022 1 min read
QuotedData’s weekly news show 5th August 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • JLEN Environmental Assets • Fundsmith Emerging Equity This week’s interview was with Kamal Warraich of Canaccord Genuity Wealth Management – watch it again here.
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04 Aug 2022 2 min read
QuotedData’s morning briefing 4 August 2022
In QuotedData’s morning briefing 4 August 2022: JLEN Environmental Assets says that its end June NAV was 123.1p, up 7.8p from 31 March. The drivers of this were higher fixed prices (+1.2p), higher seasonal forward pricing (+1.5p), and changes to long term forecasts from independent consultants (+5.8p). Our assumption would be that these uplifts reflect […]
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02 Aug 2022 1 min read
QuotedData’s morning briefing 2 August 2022
In QuotedData’s morning briefing 2 August 2022: Ed Warner, OBE has been appointed chair of JLEN Environmental Assets with effect from 2 August 2022, succeeding Richard Morse who stepped down on 15 July 2022. Ed brings extensive financial services experience from his time spent in senior positions at several investment banks and financial institutions, including […]
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01 Aug 2022 2 min read
JLEN Environmental Assets bolsters battery storage exposure and makes first investment into land-based aquaculture
JLEN Environmental Assets bolsters battery storage exposure and makes first investment into land-based aquaculture – JLEN Environmental Assets (JLEN) has made two new acquisitions including a 50% equity stake in Clayfords Energy Storage and a minority equity investment in a controlled environment aquaculture project. Clayfords holds the development rights to construct a 50MW lithium-ion battery […]
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16 Jun 2022 3 min read
An outstanding year for JLEN Environmental Assets
JLEN Environmental Assets Group has published results for the year ended 31 March 2022. Over the 12-month period to 31 March 2022, shareholders saw a share price total return of 7.4%. The chairman Richard Morse said: “JLEN has had an outstanding year, with NAV appreciation per share of 25%, £118 million raised through two oversubscribed equity […]
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24 May 2022 1 min read
Renewable energy funds hit by windfall tax rumour
A story in today’s Financial Times seems to have triggered a slide in the share prices of a number of renewable energy companies. Rishi Sunak is said to be exploring the possibility of a windfall tax on all energy generating companies, including those in the renewable energy sector, as well as oil and gas companies. […]
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17 May 2022 3 min read
JLEN NAV up 14.6%
JLEN Environmental Assets says that its NAV at the end of March 2022 was 115.3p, up 14.6% from the value at end December 2021. Higher power prices added 13.4p to the NAV and inflation added 2.6p. NAV at 31 December 100.7p Less dividends paid in the quarter (1.7p) Power prices (excluding assets previously held at […]
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13 May 2022 1 min read
QuotedData’s weekly news show 13th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: JLEN Ecofin US Renewables Infrastructure Trust Bluefield Solar Shaftesbury Capital and Counties LXI Reit Secure Income REIT This week’s interview was with […]
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09 May 2022 1 min read
JLEN flags big NAV jump
JLEN Environmental Assets says that it expects to announce its unaudited Net Asset Value as at 31 March 2022 in mid-May 2022. While this has not yet been finalised, the initial indication is that there will be a material increase in the NAV relative to 31 December 2021. An uplift in the range of 13% […]
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28 Jan 2022 1 min read
JLEN Environmental Assets Group raises £60.7m in oversubscribed issue
JLEN Environmental Assets Group (JLEN) has announced that it has raised £60.7m through the placing and offer for subscription that it previously announced on 12 January 2022. The Issue was significantly oversubscribed, in both the placing and offer for subscription, and JLEN intends to use the net proceeds of the Issue to repay its credit […]
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1 min read
QuotedData’s morning briefing 28 January 2022
In QuotedData’s morning briefing 28 January 2022: Fondul Proprietatea (Ticker: FP.) has announced that the buyback programme that was approved by shareholders at the EGM on 5 December 2021 will start on 31 January 2022. The programme can repurchase up to 800m shares and lasts until 31 December 2022. All repurchased shares are to be […]
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14 Jan 2022 1 min read
QuotedData’s weekly news show 14th January 2022
QuotedData’s weekly news show 14th January 2022 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana and Richard Williams covered the week’s top stories: • Electra Private Equity • JLEN Environmental Assets • HydrogenOne Capital Growth • abrdn European […]
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12 Jan 2022 4 min read
JLEN Environmental Assets launches placing to pay off loan and fund new pipeline
JLEN Environmental Assets launches placing to pay off loan and fund new pipeline – JLEN Environmental Assets Group is proposing to undertake a placing and offer for subscription for up to 60,139,202 new ordinary shares in the company of no par value at 101 pence per new ordinary share. The company is currently £109.8m drawn […]
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10 Jan 2022 1 min read
JLEN Environmental Assets makes first divestment
JLEN Environmental Assets makes first divestment – JLEN Environmental Assets has reached an agreement for the sale of its two French onshore wind farms, Parc Éolien Le Placis Vert and Energie Eolienne de Plouguernevel to Volta Developpement, for a total consideration of €5.9m. This is in-line with the valuation as at 30 September 2021 although […]
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26 Nov 2021 1 min read
QuotedData’s weekly news show 26th November 2021
QuotedData’s weekly news show 26th November 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana and Richard Williams covered the week’s top stories: Interim results – Montanaro UK Smaller Companies – Cordiant Digital Infrastructure – JLEN Environmental Assets […]
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25 Nov 2021 2 min read
JLEN Environmental Assets NAV surges 6.7% in 1st half
JLEN Environmental Assets (JLEN) has announced its interim results for the six months ended 30 September 2021, during which its NAV has risen from 92.2p per share to 98.4p, a 6.7% increase. This was driven primarily by an upward revision of the power price forecasts it uses, higher than forecast inflation during the period and […]
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01 Oct 2021 4 min read
QD View – Energy crisis, opportunity in uncertainty
The drivers that have led to the current energy crisis have been clearly visible for some time and reflect a number of long-term structural challenges that we face. Chief amongst these is climate change and the need to decarbonise but related to this are issues of energy security; the intermittency of renewables; battery technology that […]
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14 Jun 2021 1 min read
JLEN makes first investment into large-scale biomass combined heat and power plant
JLEN Environmental Assets (JLEN) has bought a 100% stake in Cramlington Renewable Energy Developments (CRED), which owns a biomass combined heat and power plant (CHP plant) and its underlying contracts. The acquisition of CRED, for an undisclosed amount, was made on a debt-free basis and represents JLEN’s first investment into a large-scale biomass CHP plant. The […]
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10 Jun 2021 3 min read
JLEN NAV declines on tax hike and power prices
JLEN NAV declines on tax hike and power prices – JLEN Environmental has published its results covering the year ended 31 March 2021. The NAV has fallen from 97.5p to 92.2p. This reflects the planned increase in UK corporation tax, from 19% to 25% from April 2023, and a downward revision to electricity and gas price […]
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09 Jun 2021 1 min read
QuotedData’s morning briefing 9 June 2021
In QuotedData’s morning briefing 9 June 2021 – JPMorgan Indian (JII) announced interim results to 31 March 2021. While the fund performed well, it was of course a very difficult time for India as a whole. JII managed to deliver a total return NAV return of 21.8%, which compares with a return of 19.2% from […]
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28 May 2021 3 min read
QD view – Got gas?
This week, I was given the opportunity to speak at the Anaerobic Digestion and Biogas Association’s (ADBA’s) spring finance forum. We heard from a number of interesting speakers on the challenges that this relatively new industry faces and the innovative solutions that are being implemented to address these. At present, within the listed renewables funds […]
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26 May 2021 1 min read
JLEN gets an ESG-linked credit facility
JLEN gets an ESG-linked credit facility – JLEN Environmental has agreed a new committed multicurrency revolving credit facility (RCF) of £170m and an uncommitted accordion facility of up to £30m. The money can be borrowed in both sterling and euros and at lower interest rates than the existing facility. The innovative thing is that the interest that […]
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25 May 2021 3 min read
QuotedData’s morning briefing 25 May 2021
In QuotedData’s morning briefing 25 May 2021 – Lowland (LWI), the UK equity income fund, reported its interim results to 31 March 2021, with a total NAV return of 33.0% coming in well ahead of its benchmark (the FTSE all-share index). LWI’s focus on the industrial and financial sectors, as well as its value bias, drove performance. […]
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18 May 2021 1 min read
JLEN invests in Italian waste-to-energy plant
JLEN invests in Italian waste-to-energy plant – JLEN Environmental Assets Group has bought a 45% equity stake in Energie Tecnologie Ambiente S.r.l. (ETA). ETA is a 16.8MW energy-from-waste power plant. The plant processes refuse derived fuel (RDF) and is located in the municipality of Manfredonia, in the Apulia region of southern Italy (website, in Italian, here). […]
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13 May 2021 1 min read
QuotedData’s morning briefing 13 May 2021
In QuotedData’s morning briefing 13 May 2021: Hipgnosis Songs Fund has announced the acquisition of a music catalogue from award-winning producer, Andy Wallace, who has collaborated with Nirvana, Paul McCartney, Coldplay, Foo Fighters and many more. The catalogue contains 17,242 songs which brought in a revenue of $874,000 in 2020 alone. JLEN Environmental Assets Group has […]
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05 May 2021 3 min read
QuotedData’s morning briefing 5 May 2021
In QuotedData’s morning briefing 5 May 2021 – JLEN Environmental Assets (JLEN) announced a proposed placing for up to approximately 54.7m new ordinary shares. The shares are not being offered at a fixed price, but at a placing price per share, which will be determined by the bookbuild. The placing price will be agreed between […]
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04 May 2021 2 min read
JLEN Environmental Assets and Foresight Solar team-up in grid-scale battery investment
JLEN Environmental Assets (JLEN) and Foresight Solar Fund (FSFL) have reached acquired 50% equity stakes in Sandridge Battery Storage (SBSL). SBSL holds the development rights to construct the Sandridge Battery Storage project, a 50MW lithium-ion battery energy storage plant. based in Melksham in Wiltshire, UK. JLEN and FSFL, both of whom are managed by Foresight, will each […]
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23 Mar 2021 1 min read
JLEN buys Centre Parcs AD power plant
JLEN buys Centre Parcs AD power plant – JLEN Environmental Assets Group has bought a 100% equity stake in Rainworth Energy Limited, for £5.8m (subject to adjustment for working capital). Rainworth Energy holds the rights and operational assets that make up the Rainworth anaerobic digestion (AD) plant, a 2.2MW electrical plant based in Nottinghamshire, UK, close […]
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03 Mar 2021 2 min read
JLEN Environmental Assets makes its third investment into battery storage systems
JLEN Environmental Assets (JLEN) announced the acquisition of a 100% equity stake in Gigabox South Road (GSR). GSR holds the development rights to construct the West Gourdie project, a 50MW lithium-ion battery energy storage plant-based in Dundee. The acquisition will see JLEN invest up to £21.2m over the next 12-15 months. JLEN notes that the West Gourdie […]
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19 Feb 2021 1 min read
QuotedData’s weekly news show 19 February 2021
QuotedData’s weekly news show 19 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: JLEN Environmental Assets expanding remit KKV Secured Loan update BH Global – shareholders to vote on BH Global fees […]
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16 Feb 2021 2 min read
JLEN Environmental expanding remit
JLEN Environmental expanding remit – JLEN Environmental hopes to widen what it is allowed to invest in. Shareholders need to approve the change. Under the planned revised investment policy, the company will continue to seek to achieve its investment objective by investing in a diversified portfolio of environmental infrastructure. However, the definition of “environmental infrastructure” […]
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04 Feb 2021 1 min read
JLEN buys Codford Biogas
JLEN buys Codford Biogas – JLEN Environmental Assets is buying an electrical exporting food waste anaerobic digestion plant. The deal involved the purchase of a 100% equity stake in Codford Biogas Limited. This is the holding company for the Codford anaerobic digestion plant in Wiltshire. The plant is permitted to process 100,000 tonnes of food waste each year. […]
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26 Nov 2020 2 min read
QuotedData’s morning briefing 26 November 2020
In QuotedData’s morning briefing 26 November 2020: JLEN Environmental Assets Group’s half year results show a small drop in NAV from 97.5p to 96.1p, driven by falling power and gas price estimates. Dividends are on target, however and these are covered by cash generated from operations. Montanaro UK Smaller’s interim results show it lagging its Numis […]
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20 Nov 2020 3 min read
QD view – Looking after the environment
Over the next few weeks, QuotedData is hosting a series of webinars focused on ESG – environmental, social and governance – aspects of investing that are increasingly important to investors. The first of these, on 24 November, will look at the ‘E’ in ESG. The main thrust of the debate around tackling the environmental issues […]
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18 Sep 2020 1 min read
More Hydro and battery storage for JLEN Environmental Assets
JLEN Environmental Assets (JLEN) has announced that it has acquired Northern Hydropower Holdings Limited (NHHL) for a total consideration, including working capital, of £4.74m. NHHL owns 100% of the equity in Northern Hydropower Limited, which in turn holds the rights to two operational hydro projects, which includes a co-located operational battery storage system at one […]
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1 min read
QuotedData’s morning briefing 18 September 2020
In QuotedData’s morning briefing 18 September 2020: We have details of the GRIT Real Estate Income’s disposal of its stake in Anfaplace Mall, JLEN Environmental Assets acquisition of two hydro assets (one with a co-located battery storage asset), Macau Property Opportunities progress with its loan refinancing and its divestment of its remaining individual unit at One […]
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18 Aug 2020 1 min read
QuotedData’s morning briefing 18 August 2020
In QuotedData’s morning briefing 18 August 2020: Acorn Income declared a third interim dividend of 5.75p – in line with previous quarters – but its revenue reserves are running down as it uses these to top up income lost to dividend cuts by companies in its portfolio. Revenue reserves at 30 June were 14.6p, having been […]
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11 Jun 2020 4 min read
JLEN sets out its plans for the future
JLEN’s results covering the year ended 31 March 2020 have been published. Highlights for the period were: NAV of 97.5 pence as at 31 March 2020 (31 March 2019: 104.7 pence), reduction primarily driven by the effect of the long-term power price forecast on the portfolio value Total dividends declared of 6.66 pence (2019: 6.51 […]
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28 May 2020 1 min read
QuotedData’s morning briefing 28 May 2020
In QuotedData’s morning briefing 28 May 2020: Aberdeen Standard European Logistics Income (ASLI) posted a NAV total return of 8.6% in 2019 it reported today in full year results. IFRS earnings per share for the year was 9.6 euro cents, covering a dividend of 5.75 euro cents. Earlier this week ASLI made a NAV announcement for […]
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02 Apr 2020 1 min read
JLEN buys Peacehill anaerobic digestion plant
JLEN buys Peacehill anaerobic digestion plant – JLEN has announced an investment in the Peacehill Farm anaerobic digestion (AD) plant for an aggregate amount of £11m. Unusually, the investment takes the form of the provision of a debt facility and an investment to gain a minority equity stake in JLEAG AD Limited, the company which holds, […]
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26 Mar 2020 2 min read
covid-19 update from JLEN Environmental
covid-19 update from JLEN Environmental – “The JLEN portfolio has made a positive start to the calendar year, with generation approximately 15% over budget including very strong performance from the wind assets due to good wind resource. Foresight anticipates that there may be a further short-term reduction in power prices due to an anticipated drop […]
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02 Mar 2020 1 min read
Report: UK government to renew support for onshore windfarms
It was announced earlier today that the UK will reintroduce support for onshore windfarms, four years after deciding to end support for new projects. It is believed that the policy reversal reflects a view that onshore wind will be crucial to the UK’s chances of delivering on its target of net zero carbon emissions by […]
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28 Feb 2020 1 min read
QuotedData’s other news 28 February 2020
In QuotedData’s other news 28 February 2020: Aberdeen Standard European Logistics has announced a 4% increase in its NAV (in euro terms) which translates into a small fall in its sterling NAV as the pound strengthened following the election. The NAV moved from €1.07 to €1.11 and 94.95p to 94.21p. The company continues to pay quarterly […]
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27 Feb 2020 1 min read
QuotedData’s other news 27 February 2020
In QuotedData’s other news 27 February 2020 JLEN Environmental’s fundraise was significantly oversubscribed. The placing, which was only available to professional investors, will result in the issue of 49,701,820 new shares at 115p, raising gross proceeds of £57.2m. JLEN will use the money to finance “an identified pipeline of near-term opportunities across the bioenergy and flexible […]
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11 Feb 2020 1 min read
QuotedData’s other news 11 February 2020
In QuotedData’s other news 11 February 2020 – Investment Company (INV), which invests in the UK growth and income sector, reported interim results to 31 December 2019. Over the period. the company’s NAV increased by 7.61 %, compared with the FTSE all-share index’s 3.44% return. We also have a major update on the future of Hadrian’s Wall […]
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1 min read
JLEN Environmental Assets announces restructuring in its management arrangement and placing proposal
JLEN Environmental Assets Group (JLEN) has announces that, following an internal restructuring at Foresight Group, Foresight Group LLP (Foresight) has replaced Foresight Group CI Limited (Foresight CI) as investment adviser to JLEN. As announced by the company on 5 June 2019, Foresight CI was appointed as investment adviser to JLEN with effect from 1 July […]
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05 Feb 2020 1 min read
Marten & Co Income Strategies Conference 2020
Marten & Co Income Strategies Conference 2020 Many thanks to those of you who made it to our inaugral Marten & Co Income Strategies Conference. We had some great presentations from a diverse range of income funds. JLEN Environmental – Shires Income – Civitas Social Housing – Henderson Diversified Income – Polar Capital Global Financials The […]
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29 Jan 2020 1 min read
JLEN NAV impacted by power price fall
JLEN NAV impacted by power price fall – JLEN’s NAV has dropped from 104.7p to 101.8p over the final three months of 2019. The reason is a fall in assumptions about long-term power prices – a topic we covered in another story this morning – “electricity price forecasts have reduced by c. 7.5% from the […]
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1 min read
Renewable energy funds under attack from brokers
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
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28 Jan 2020 1 min read
JLEN gets diversified exposure to new build assets
JLEN gets diversified exposure to new build assets – JLEN has made a €25m commitment to Foresight Energy Infrastructure Partners SCSp (“FEIP”), a Luxembourg limited partnership investment vehicle. The majority of the partnership’s investments will be in construction-stage European renewable energy generation infrastructure such as wind farms and solar parks, and FEIP will also have an […]
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13 Dec 2019 2 min read
JLEN Environmental Assets acquires anaerobic digestion plant
JLEN Environmental Assets acquires anaerobic digestion plant – JLEN Environmental Assets (JLEN) has acquired an anaerobic digestion plant and a associated waste collection business. It has bought a 70% stake in Bio Collectors Holdings (BCH). BCH, through its subsidiary companies holds the rights and operational assets that make up the anaerobic digestion (AD) plant and the Bio Collectors waste […]
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21 Nov 2019 3 min read
JLEN Environmental scope for further diversification
JLEN Environmental scope for further diversification – at 30 September 2019, JLEN Environmental’s NAV stood at 104.7p per share, unchanged from the value at the end of March. Within the portfolio, things seem to be on the right track but positive developments were offset by lower energy price forecasts. The dividend target has been met, […]
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29 Aug 2019 1 min read
JLEN Environmental buys Norfolk AD plant
JLEN Environmental buys Norfolk AD plant – JLEN Environmental Assets Group is buying Warren Power Limited for an initial consideration, including working capital, of GBP14.8 million, plus possible additional deferred payments up to GBP0.8m. Warren Power owns 100% of the equity in Warren Energy Limited, which holds the rights and operational assets that make up the Warren […]
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19 Jul 2019 2 min read
John Laing Environmental Assets Group adds low head hydro and battery storage
John Laing Environmental Assets Group (JLEN) has announced that it has acquired Yorkshire Hydropower Holdings Limited (YHH”) for a total consideration, including working capital, of £4.3 million. YHHL is an entity that owns 100% of the equity in Yorkshire Hydropower Limited (YHL), which in turn holds the rights to two operational hydro projects and an […]
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13 Jun 2019 4 min read
JLEN diversification creates opportunities for higher returns
John Laing Environmental Assets has released results for the year ended 31 March 2019. Over that period, the NAV rose from 99.6p to 104.7p; the trust met its 6.51p dividend target and announced a 6.66p target for the current financial year. The dividend was covered 1.2x by cash flow generated by the portfolio. The chairman […]
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05 Jun 2019 2 min read
John Laing team on the move – Environmental Assets little affected
John Laing team on the move – Environmental Assets little affected. The board of John Laing Environmental Assets Group has announced a change of investment adviser – from John Laing Capital Management (“JLCM”) to Foresight Group CI Limited, which is expected to be effective from 1 July 2019. Increased resources, same fees John Laing Group […]
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20 May 2019 1 min read
QuotedData’s other news 20 May 2019
John Laing Environmental Assets Group (JLEN) has announced the appointment of Hans Joern Rieks as a non-executive director of the company, commencing 13 June 2019. LXi REIT (LXI), the specialist inflation-protected very long income REIT, has reported annual results for the year ended 31 March 2019. LXI’s leases are typically 20 to 30 years to expiry […]
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19 Dec 2018 1 min read
John Laing Environmental Assets buys Biogas Meden anaerobic digestion plant
John Laing Environmental Assets Group (JLEN) has announced that it has acquired an anaerobic digestion asset, Biogas Meden Limited, for £16.2m. Biogas Meden owns the Welbeck Anaerobic Digestion Plant. Following this acquisition, JLEN has a portfolio of six anaerobic digestion projects and the total capacity of the renewable energy assets in the JLEN investment portfolio […]
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12 Sep 2018 1 min read
John Laing Environmental Assets launches a Placing, Offer for Subscription and Intermediaries Offer
John Laing Environmental Assets launches a Placing, Offer for Subscription and Intermediaries Offer – John Laing Environmental Assets Group (JLEN) is targeting an issue of £50 million through the issue of new ordinary shares at a price of 102 pence per share. The issue price of 102 pence per share represents a premium of 2.4% to the last published NAV as […]
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16 Aug 2018 1 min read
John Laing Environmental Assets acquires another anaerobic digestion plant
John Laing Environmental Assets acquires another anaerobic digestion plant – John Laing Environmental Assets (JLEN) has announced the acquisition of an anaerobic digestion (AD) asset, from Merlin Renewables Limited for a total consideration, including working capital, of c. £18.1 million. Location The Merlin AD plant is located in Hibaldstow, North Lincolnshire and was commissioned in September 2014. The […]
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21 Feb 2018 1 min read
John Laing Environmental Assets announces £30m bookbuild
John Laing Environmental Assets announces £30m bookbuild – Further to the announcement on 12 February 2018 of its intention to undertake a share issuance programme, JLEN has further announced that they will be targeting the raising of £30m via a bookbuild. This is to be used to repay amounts drawn under the revolving credit facility in order to finance […]
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02 Feb 2018 1 min read
John Laing Environmental adds another anaerobic digestion asset
John Laing Environmental adds another anaerobic digestion asset – John Laing Environmental Assets has announced an investment in the Icknield Farm anaerobic digestion (AD) plant. The investment consists of the provision of a debt facility to repay existing loans and acquisition of a minority equity stake from private individuals who were the project’s developers for an […]
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12 Dec 2017 1 min read
John Laing Environmental buys Welsh wind farm
John Laing Environmental buys Welsh wind farm – John Laing Environmental Assets has announced the acquisition of Llynfi Afan Wind Farm from John Laing Group for a cash consideration, including working capital, of GBP43.0 million. Llynfi Afan Wind Farm is located in the Afan Valley, Abergwynfi, West Glamorgan in Wales and comprises 12 Gamesa 2MW G80 turbines […]
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06 Nov 2017 1 min read
John Laing Environmental gets replacement for David Hardy
John Laing Environmental gets replacement for David Hardy – The board of John Laing Environmental Assets Group says that it has been notified by John Laing Capital Management (“JLCM”), the investment adviser to the Company, that Chris Holmes will join JLCM in January 2018 to take on the role as joint lead adviser to the company. […]
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29 Aug 2017 1 min read
John Laing Environmental buys anaerobic digestion plant
John Laing Environmental buys anaerobic digestion plant – John Laing Environmental Assets Group has acquisition of Vulcan Renewables Ltd for a total consideration, including working capital, of GBP15.3 million. The acquisition, in partnership with experienced operator Future Biogas Ltd, is the Company’s first investment in the anaerobic digestion sector, further diversifying the Company’s portfolio of […]
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07 Jul 2017 1 min read
John Laing Environmental Assets’ placing raises £40m at 103p per share
John Laing Environmental Assets (JLEN) has announced that its placing has raised £40 million through the issue of 38,834,951 new ordinary shares at a price of 103 pence per new ordinary share. JLEN says that the Placing was significantly oversubscribed and applications have been scaled back in accordance with the terms of the placing. The […]
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19 Jun 2017 1 min read
John Laing Environmental extends credit facility
John Laing Environmental extends credit facility for a further year – John Laing Environmental Assets, the listed environmental infrastructure fund, has signed a new three-year (with an uncommitted option to extend for a further year) facilities agreement which provides for a committed revolving credit facility of GBP130 million and an uncommitted accordion facility of up to […]
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06 Jun 2017 1 min read
John Laing Environmental Assets acquires CSGH Solar Portfolio for £12.2m
John Laing Environmental Assets (JLEN) has announced that it has acquired the CSGH Solar Portfolio for a total consideration, including working capital, of £12.2 million from sPower Holdings (UK) Limited. The acquisition, which was effected by purchasing the entire share capital of the holding company of the CSGH Solar Portfolio, was funded by a draw-down […]
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22 May 2017 1 min read
John Laing Environmental Assets acquires the Moel Moelogan 1 wind farm for £3.0m
John Laing Environmental Assets (JLEN) has announced that, further to the acquisition of the Moel Moelogan 2 wind farm (made of the on 20 April 2017), it has made a follow-on acquisition of the Moel Moelogan 1 wind farm (pictured) for a total cash consideration of £3.0m, including working capital and the repayment of a […]
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20 Apr 2017 1 min read
John Laing Environmental Assets acquires the Moel Moelogan 2 wind farm for £22.65m
John Laing Environmental Assets has announced that it has acquired the Moel Moelogan 2 wind farm (MM2) for £22.65m cash, including working capital and the repayment of a project finance loan at completion. The acquisition was funded by a draw-down under the Company’s revolving credit facility. Moel Moelogan 2 is an onshore wind farm located […]
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19 Jan 2017 1 min read
John Laing Environmental Assets proposes £25m fund raise
John Laing Environmental Assets (JLEN) has announced that it is proposing to raise £25m by way of an initial placing under its placing programme, the prospectus for which was published on 16 December 2016. It intends to use the net proceeds to fund a near term pipeline of opportunities across the Solar, Wind and Biomass […]
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23 Nov 2016 2 min read
John Laing Environmental held back by adverse weather
John Laing Environmental Assets has published its half-year results to 30 September 2016. The NAV was 98.3p at 30 September 2016 (31 March 2016: 96.7p) with the positive movement in the period reflecting primarily an increase in forecast electricity prices. The portfolio valuation as at 30 September 2016 was GBP320.7m (31 March 2016: GBP264.5m). Total dividends were […]
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22 Jul 2016 1 min read
John Laing Environmental Assets acquires Kettering wind farm for £11.8m
John Laing Environmental Assets has announced that it has acquired New Albion Wind Farm from John Laing Group plc for a cash consideration of £11.8m, including working capital. New Albion Wind Farm is located near Kettering, Northamptonshire and comprises seven Senvion MM92 turbines with a total generating capacity of 14.4MW. The site has been operational […]
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30 Jun 2016 1 min read
John Laing Environmental buying Dungavel wind farm
John Laing Environmental has announced the acquisition of Dungavel Wind Farm from John Laing Group for a cash consideration, including working capital, of GBP38.2 million. Dungavel Wind Farm is located in South Lanarkshire, South-West Scotland and comprises 13 Vestas 2MW V80 turbines with a total generating capacity of 26MW and is accredited for 0.9 ROCs. […]
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17 Jun 2016 3 min read
John Laing Environmental impacted by lower power prices
John Laing Environmental Assets has published results for the year ended 31 March 2016. Over the 12 month period to 31 March 2016 shareholders have seen a share price total return of –2.5% whilst over the same period the NAV total return per share was +3.1%. The discrepancy is largely due to the reduction in […]
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27 May 2016 1 min read
John Laing Environmental Assets raises £35m
John Laing Environmental Assets has announced that its placing has raised gross proceeds of £35.19m through the issue of 36m ordinary shares at 97.75p per ordinary share. The company says that the net proceeds of the Placing will be used to repay amounts drawn down on the Company’s revolving credit facility. The company expects that […]
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21 Apr 2016 1 min read
John Laing Environmental Assets placing to raise up to £65m
John Laing Environmental Assets has announced that it is proposing to raise up to £65m by way of a cash placing of new ordinary shares to institutional investors. The company says that the net proceeds of the Placing will be used to repay the Company’s facility to provide capital for pipeline acquisitions. On 17 March, […]
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17 Mar 2016 1 min read
John Laing Environmetal acquires Pylle Southern Solar Park for £6.1m
John Laing Environmental Assets has announced the acquisition of Pylle Southern Solar Park, near Shepton Mallet in Somerset, for £6.1m (including working capital). The company has also extended its revolving credit facility from £50m to £65m. Commissioning of the solar park was completed in December 2015 and it has a total generating capacity of 4.99MW. […]
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03 Dec 2015 1 min read
John Laing Environmental Assets buys Burton Wold Extension
John Laing Environmental Assets has announced that it has purchased the Burton Wold Extension Wind Farm from John Laing Group plc for a cash consideration, including working capital, of £21.8m. The wind farm is located near Burton Latimer in Northamptonshire and comprises nine General Electric 1.6MW-100 turbines with a total generating capacity of 14.4MW. The […]
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20 Nov 2015 1 min read
John Laing Environmental looking at refinancing wind assets
John Laing Environmental has published interim results covering the six months ended 30 September 2015. Its NAV of 101.2 pence as at 30 September 2015 was unchanged from 31 March 2015 after adjusting for dividends paid during the period ands despite the impact of the subsidy changes announced in July. The interim dividend was 3.027p, up from […]
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17 Nov 2015 1 min read
John Laing Environmental Assets buys additional solar PV portfolio
John Laing Environmental Assets has announced the acquisition of a solar photovoltaic portfolio for a cash consideration, including working capital, of £9.7m. The fully operational 2.3 MW solar energy generation portfolio comprises 303 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations, distributed across England, Wales and Scotland. The company says that […]
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02 Nov 2015 1 min read
John Laing Environmental acquires 4.2MWp solar portfolio for £18.8m
John Laing Environmental Assets has announced the acquisition of a 4.2 MWp solar energy generation portfolio for £18.8m. The portfolio comprises 796 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations, distributed across England, Wales and Scotland. The portfolio benefits from the UK feed-in tariff for 25 years from the date […]
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03 Aug 2015 1 min read
John Laing Environmental buys two more solar projects
John Laing Environmental Assets has bought two solar plants for £20.37m. Monksham Solar is located near Frome in Somerset, with a total generating capacity of 10.7MW and is accredited for 1.6 ROCs. John Laing Environmental Assets has bought all its ‘B’ shares plus other economic interests from the founding shareholders and Green Nation, the developers of […]
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09 Jul 2015 1 min read
Budget changes to Climate Change Levy hit Renewables
Changes in yesterday’s budget in relation to the Climate Change Levy (removal of Climate Change Levy exemption) for renewable electricity have had a knock-on effect on the net asset values of companies operating in the renewable energy sector as it changes the assumptions used to calculate them. Greencoat UK Wind says it was already factoring […]
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04 Jun 2015 1 min read
John Laing Environmental shrugs off fire damage and low wind speeds
John Laing Environmental Assets has published its first set of results covering the period from its launch on 31 March 2014 to the end of March 2015. The NAV at the end of the period, adjusting for the dividend, was 98.2p – this compares to the 100p launch price and the 98p initial NAV of the company […]
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01 Apr 2015 1 min read
John Laing Environmental buying a solar park and two wind farms
John Laing Environmental is buying a solar park and two wind farms off John Laing Group for £42.54m. They are funding the transaction from their £50m credit facility. The solar park deal relates to Branden solar park where they are buying a 64% stake. Branden Solar comprises two separate solar parks located near Bodmin in Cornwall, with […]
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20 Nov 2014 1 min read
Everything on track at John Laing Environmental
JLEN : Everything on track at John Laing Environmental John Laing Environmental Assets has published its first set of figures since it listed in March, covering the period up to the end of September 2014. They raised £160m and invested all of that into seven environmental infrastructure assets on nine sites. The initial net asset […]
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11 Sep 2014 1 min read
John Laing raising cash to fund three acquisitions
JLIF : John Laing raising cash to fund three acquisitions John Laing Infrastructure is raising up to £50m via a tap issue of stock. The money will be used to fund three acquisitions it announced today. They are spending £39m on a 50% stake in the South East London Police Stations project (four South East […]
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07 Aug 2014 1 min read
John Laing Environmental says fire will not affect dividend
JLEN : John Laing Environmental says fire will not affect dividend A fire that struck John Laing Environmental’s Frog Island Mechanical Biological Treatment Facility in East London has been brought under control. The full extent of the damage is still being assessed. The facility is fully insured and John Laing Environmental says it expects the […]
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09 Jul 2014 1 min read
Independent Investment Trust : IIT – interim results
Independent Investment Trust, managed by Max Ward (pictured), delivered a total return on its net asset value of 5.2% over the six months ended 31 May 2014 compared to returns of 4.8% for the FTSE All-Share Index and 4.0% for the FTSE World Index. The discount widened from 6.5% to 8.6%. The dividend is unchanged at […]
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11 Apr 2014 1 min read
John Laing Environmental Assets : JLEN – acquisitions
John Laing Environmental has announced that it has completed on its deals to acquire Amber Solar, Castle Pill & Ferndale Wind and Bilsthorpe Wind projects from the John Laing Group. They already tied up the acquisitions of the Dumfries & Galloway Waste, Hall Farm Wind and Tay Wastewater Projects and so John Laing Environmental has now […]
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20 Aug 2024 2 min read
JLEN Environmental Assets board recommends against discontinuation
Hannah Williford, Portfolio Adviser, 20 August 2024: The board of JLEN Environmental Assets Group, a listed infrastructure trust, has unanimously recommended shareholders vote against a discontinuation of the company at its annual general meeting on 13 September. JLEN, which was launched in 2014, is trading at a 17% discount to its net asset value as […]
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15 Aug 2024 1 min read
JLEN Environmental Assets sells off £68m in assets to pay debts and launch share buyback
Elliot Gulliver-Needham, Investment Reporter, CityAM, 15 August 2024: JLEN Environmental Assets Trust has sold off half of its anaerobic digestion portfolio to Future Biogas for £68.1m. The trust, which invests in environmental infrastructure assets, sold the facilities at their June valuation. After the deal, it will continue to own the other 49 per cent of […]
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10 Jun 2024 1 min read
Investment trust insider on GRID’s tie-up with Octopus
Investment trust insider on GRID’s tie-up with Octopus – James Carthew: Could Octopus stretch to a bid for battery funds? Following a ‘landmark’ deal with Gresham House Energy Storage, Octopus could do the same with for-sale Harmony Energy as its next contract in two years. Life in the investment companies sector continues to be eventful. […]
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28 May 2024 1 min read
Investment trust insider on biodiversity
Investment trust insider on biodiversity – James Carthew: Governments are finally taking biodiversity seriously Government action to address falling wildlife numbers is creating opportunities for some businesses, with tradeable biodiversity credits one incentive. Last week, 22 May was the International Day for Biodiversity. There are ‘days’ for just about anything that you can think of […]
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26 Feb 2024 2 min read
Perfect Storm
Cherry Reynard, Portfolio Adviser Magazine, February 2024: Investment trusts have a well-deserved reputation as an effective way to manage such illiquid assets as property, smaller companies and infrastructure, yet the past 18 months have also highlighted the problems of this type of vehicle, as discounts have widened in response to higher interest rates, cost-disclosure problems […]
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11 Jan 2024 1 min read
Investment trust bargains: how to find them and where to look in 2024
by Kyle Caldwell from interactive investor, 11th January 2024: There are various ways to improve the odds of investment success, including having a diversified portfolio, investing over the long term, and rebalancing a couple of times a year. Another one is to keep a close eye on valuations and seek out undervalued areas of the […]
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19 Dec 2023 1 min read
INTO THE HEADWIND
James Carthew in The Investment Trusts Handbook 2024: James Carthew reviews a tough year for the alternative asset trusts In the years following the global financial crisis, the investment companies industry boomed as investors in search of income poured money into alternative assets. Not everything worked. Aircraft leasing and reinsurance funds proved to be notable […]
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07 Aug 2023 1 min read
Bargain Hunter: four investment trust discounts not reflecting reality
by Faith Glasgow for interactive investor, 7th August 2023: Most major markets rose in July, as did hopes that a US recession can be averted, while better-than-expected inflation news provided a welcome fillip for interest-rate sensitive sectors of the investment trust world such as infrastructure and growth capital. Investment trust discounts have therefore tended to […]
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1 min read
Infrastructure and renewables – big yields, big discounts
Matthew Read, for Investment Week, 4 August 2023: The outlook for the UK equity market feels particularly depressed and it is not hard to see why. Even after June’s better-than-expected inflation figures, core UK inflation remains high, which suggests higher interest rates for longer. Commentators are expecting that the base rate, which at 5.25% is […]
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05 Jul 2023 1 min read
The funds and trusts that can’t be replaced with an ETF
by Sam Benstead from interactive investor, 5 July 2023: When it comes to sales, there has only been one winner in the active versus passive fund battle over the past decade, with the latter cleaning up. In 2007, before the financial crisis struck, the amount held in tracker funds was a mere £29 billion, which […]
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01 Jun 2023 1 min read
Investment trusts ditch their ‘inflation protection’ tag
By Val Cipriani, Investors’ Chronicle, June 1, 2023: Investment trusts are announcing below-inflation dividend increases, making it more difficult for investors to maintain the real value of their income – although some might be able to catch up in 2024 or 2025. Last week, core infrastructure trust HICL Infrastructure (HICL) said it intends to maintain […]
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20 Apr 2023 1 min read
Delving into the dividend: nine income trusts delivering top total returns
by Kyle Caldwell from interactive investor, 19th April 2023: There are sound reasons to look beyond ‘dividend hero’ investment trusts, as this research shows. Many investors like to buy funds and investment trusts that invest in dividend-paying companies or income-producing bonds… Investors should look beyond the dividend heroes However, investors should not just simply stick […]
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18 Apr 2023 1 min read
Investment trust insider on discounts
James Carthew: This selloff has gone too far Looking at my portfolio, the past few months have felt a bit frustrating. Investment companies that I am convinced are sound have been derated, sometimes aggressively. Investors seem irrational, perhaps even panicky. Fundamentals are being ignored and sentiment rules all. Fortunately, the bulk of my investments are […]
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17 Mar 2023 1 min read
Look beyond the dividend heroes
Andrew Courtney, for Investment Week, 15 March 2023: The dividend hero and next generation hero lists published by the AIC are a great marketing tool for the investment companies industry and tend to generate a considerable amount of press attention, despite being a relatively simplistic yardstick (funds that have grown their dividend every year for […]
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15 Mar 2023 1 min read
Investment trust insider on Greencoat UK Wind
Investment trust insider on Greencoat UK Wind – James Carthew: Renewables de-rating won’t last. Funds like UK Wind are too important The end of the month sees a big milestone for the investment companies sector – Greencoat UK Wind (UKW), the first of the renewable energy infrastructure trusts, will be 10 years old. The initial […]
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21 Feb 2023 1 min read
Can energy investment trusts withstand higher rates?
By Val Cipriani, Investors Chronicle, February 17, 2023: For a sector that prides itself on offering attractive yields with an eye on capital preservation, renewable energy trusts have had a bumpy ride over the past few months. Having soared in early 2022 as energy prices spiked, share prices plummeted following the Truss-Kwarteng ‘mini’ Budget in […]
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01 Feb 2023 1 min read
Investment trust insider on green hydrogen
Investment trust insider on green hydrogen – James Carthew: Case for green hydrogen grows About 18 months ago, I wrote about the launch of HydrogenOne Capital Growth (HGEN), the sole fund in the AIC’s Renewable Energy Infrastructure sector focused predominantly on capital growth. Investors’ enthusiasm for the trust waned over the course of 2022, on […]
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05 Dec 2022 1 min read
Clearer picture, calmer nerves for renewables?
James Carthew of QuotedData for Investment Week, 5 December 2022: Shifting sentiment has led to a widening of discounts to net asset value across many parts of the investment companies’ industry. One of the more unexpected deratings has occurred within the renewable energy infrastructure sector, despite two thirds of these funds generating double-digit NAV returns […]
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30 Nov 2022 2 min read
Renewable energy infrastructure trusts hold out against extra profits levy
By Val Cipriani, Investors’ Chronicle, November 30 2022: Renewable energy infrastructure trusts are taking a relatively small hit from the electricity generator levy, as its effect on their net asset value (NAV) is offset by high power prices and inflation in the latest round of portfolio updates – but share prices are still recovering quite […]
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20 Oct 2022 1 min read
When will renewable energy investment trust prices recover?
By Val Cipriani, Investors’ Chronicle, October 19, 2022: While equities and bonds have taken a battering, infrastructure has become an increasingly popular asset class in the past year, with a reputation for helping investors’ fortunes while traditional strategies were busy plummeting. Renewable energy in particular looked attractive in an environment where energy can be sold […]
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12 Jul 2022 1 min read
Why these defensive investments will continue to deliver
Sam Benstead from interactive investor, 12th July 2022: Amid a sea of red this year, one sector is flashing green: infrastructure and renewables. Investors have had very few places to hide this year, as higher interest rates and inflation spark an exodus from the stock market. Year-to-date, US shares have fallen around 20% (S&P 500 […]
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1 min read
The best renewable energy infrastructure trusts
By Cherry Reynard, Investors’ Chronicle, July 6, 2022: Amid febrile stock markets, renewable energy infrastructure trusts should be a rare sweet spot. They offer inflation protection at a time of double-digit price rises, high dividends when income is scarce and access to renewables as policymakers strive to decarbonise. They are also exposed to rising power […]
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15 Jun 2022 1 min read
Wind farms, schools and broadband: Are infrastructure investment trusts the key to inflation-busting returns?
By MIKE SHEEN FOR THIS IS MONEY 14 June 2022 Infrastructure assets have long been regarded as a go-to means of achieving inflation-beating returns and, while prices soar elsewhere, the London market may currently offer investors bargain options… Renewable energy infrastructure trusts have raised more than £1billion since the start of the year, according to […]
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16 May 2022 1 min read
Are NAV increases on renewable infrastructure trusts here to stay?
Kathleen Gallagher, Investment Week, 11 May 2022: At the beginning of this week (9 May) the JLEN Environmental Assets trust flagged that its Q1 NAV is likely to be 13-15% higher than the end of last year. The trust, and a number of its peers, are sitting on double digit premiums as they benefit from, […]
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15 Mar 2022 1 min read
Investment trust insider talks to Foresight’s Bernard Fairman
Investment trust insider talks to Foresight’s Bernard Fairman – James Carthew: Investors, UK show lack of energy foresight Last week I talked to Bernard Fairman, one of the two co-founders of fund manager Foresight Group (FSG). With two renewable energy funds – Foresight Solar Fund (FSFL) and JLEN Environmental Assets (JLEN) – and the newly […]
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21 Jan 2022 1 min read
The investments to beat inflation: These six shares and five investment trusts can keep rising
ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY, 15 January 2022: You need only look at your weekly food shopping receipt to know that prices are rising. …some companies are better able to deal with inflation than others because they are able to pass on rising costs to their customers… Here are stocks, and four funds, that […]
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15 Nov 2021 1 min read
Renewable trust NAV declines are unnerving some investors
QuotedData’s James Carthew looks at how declining forecasts of long-term power prices are impacting renewable investment trusts ESGClarity, 15 November 2021 / Opinion Following a successful £210m new issue from Harmony Energy Income, there are now 20 companies in the AIC’s renewable energy sector and at least two more – Atrato Onsite Energy and ThomasLloyd Energy […]
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04 Oct 2021 1 min read
How to cash in on the international supply crisis
Demand for oil, copper and other commodities is growing — could this help investors to beat the pressures of inflation David Brenchley, Saturday October 02 2021, 12.01am, The Times The prices of lithium, aluminium and copper are soaring, wholesale gas prices have jumped sixfold and the oil price has hit a three-year high. All of […]
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14 Jun 2021 1 min read
Investment trust insider on renewables
Investment trust insider on renewables – James Carthew: Navigating the NAV declines in renewables If you follow the renewable energy sector, you will have noticed the reductions in net asset values (NAVs) that have been prevalent over the last few quarters. Last week JLEN Environmental Assets (JLEN) and GCP Infrastructure (GCP), which has around 60% of […]
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23 Feb 2021 1 min read
Investment trust insider on renewables
Investment trust insider on renewables – James Carthew: How the renewables class of 2013 has changed beyond recognition Following the recent new issues and the oversubscribed £198m placing by Greencoat UK Wind (UKW) last week, the now 17 investment companies in the sector have a combined market value of about £10.5bn and are within a […]
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17 Dec 2020 1 min read
Shape the things to come
SHAPE THE THINGS TO COME Portfolio Adviser IT Guide, 16 December 2020 James Carthew, Director QuotedData Shareholders in investment companies have a significant edge over their open-ended counterparts when it comes to seeking out ESG-oriented investments The investment world has a big role to play in shaping the future of the planet for the benefit […]
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22 Nov 2020 1 min read
Investment trust insider on Downing Renewables
Investment trust insider on Downing Renewables – Another potential investment company launch emerged this past week as Downing Renewables & Infrastructure Trust (DORE) published an intention to float announcement and followed up with its prospectus today. It joins an increasingly crowded field – there are already 14 funds in the AIC’s Renewable Energy Infrastructure sector. However, […]
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16 Apr 2020 1 min read
Alternative income trusts for the dividend drought
Alternative investment trusts for the dividend drought By Dave Baxter, Investors Chronicle, 16 April 2020 Some 45 per cent of UK companies had scrapped their dividends by 5 April and the situation is likely to deteriorate… But equity trusts are not the only source of income – many investment trusts focused on alternative asset classes such […]
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31 Mar 2020 1 min read
Renewable energy infrastructure companies hit by falling power prices
Renewable energy infrastructure companies hit by falling power prices By David Brenchley , Investment Week, 9 March 2020 A fall in power prices that has significantly reduced net asset value (NAV) of renewable energy infrastructure investment companies over the past six months is likely to remain a headwind for a sector that has been popular […]
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25 Mar 2020 1 min read
Risky Renewables: the bulls vs the bears
Risky Renewables: the bulls vs the bears by Jennifer Hill, Issue 53, Investment Trust Insider ezine Until recently, shares in renewable infrastructure investment trusts were trading at all-time highs, reflecting investor enthusiasm and flows into the asset class. However, a string of negative broker notes has cast doubt on the sustainability of returns and caused their premiums over net asset value (NAV) to drop. […]
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28 Mar 2019 2 min read
Top ISA picks for 2019
Top ISA picks for 2019 – QuotedData’s James Carthew is one of a number of analysts suggesting investment companies that could be worth considering for this year’s ISA. This article was written by Investors Chronicle’s Leonora Walters. 10 investment trusts for your Isa 2019 Investment trusts are a good option for many different types of […]
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05 Mar 2019 1 min read
Investment Trust Insider on Greencoat UK Wind
Investment Trust Insider on Greencoat UK Wind – James Carthew: renewables swap subsidies for price rises Despite the volumes of hot air emerging from Westminster, UK wind speeds have been below seasonal averages for some time. This impacts on the earnings of the renewable energy generators with UK wind exposure. These are: Greencoat UK Wind (UKW), […]
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26 Oct 2018 2 min read
QuotedData – Private Investor Events
QuotedData, the award-warning research house, has come on board as a sponsor for Master Investor Show 2018 and will join the Main Stage line-up on Saturday, 17 March, at London’s Business Design Centre. QuotedData’s CEO Edward Marten will host a panel session titled ‘Investment Companies – why are they the largest and fastest growing sector […]
