Groups Feed

The AIC Industry News tab (if you have not discovered this it is worth reading) had a report on 5 November about Renewable Energy trusts. It said that the government incentives that these companies receive, which were supposed to continue until 2030, may now be withdrawn in April 2026. It stated that many of these companies receive a significant proportion of their revenue from the incentives.

I had understood that renewable energy costs were now below that of other producers such as gas, in which case the renewables should be profitable without incentives, but it is probably more complicated than that. As noted in the Newsletter, the sector may be due for change.

Welcome to our group itnmembers Group! A space for us to connect and share with each other. Start by posting your thoughts, sharing media, or creating a poll.

Yesterday I received an email from Hargreaves Lansdown saying that by Monday midday I must decide whether I wanted to take the new ETF shares or opt for cash. I see that those taking cash must bear all the costs of the reconstruction (£950,000), which seems unreasonable. The effect of those costs on a single shareholder will depend on how many people opt for cash. I am not clear whether I would do better to accept the ETF shares and then sell them. Any suggestions?

I am participating in the Open Offer for TwentyFour Income shares but I was wondering if it would be helpful to compare that company to Fair Oaks Income, reviewed in the Newsletter not so long ago?

Greetings All,

If you were to reconstruct your porfolio with max 5 ITs capturing both income and growth.

What would your picks be?

Regards,

Imtiaz

There is an interesting article in The Times today about investment trusts and whether the directors have skin in the game. This is based on a report by Investec (which I have not seen). The only conclusion I could draw was to avoid investment trusts where the aggregate directors' shareholding is less than the aggregate board fees. Examples are: Fair Oaks Income, Ecofin US Renewables, Aquila Energy Efficiency, and JPMorgan Emerging Europe.

Last Friday it was announced that, following pressure from Saba, Middlefield were proposing to convert into a UCITS ETF. This would be the first time that an investment trust has rolled over into an actively managed ETF structure. I feel rather hostile to any proposal from Saba but it appears that there could be advantages in this idea. I have never dealt in ETFs and would like to hear what others have to say.

Any views on which is the best firm for Investment Trust Research (over and beyound this excellent Newsletter)? Shortlist would presumably be amongst

Deutsche Numis

Winterflood

Stiefel

Cost of research is reasonably high. So is there a consensus, to pick just one firm for Investments Trusts Research ?

Interested in PE, Infra, Renewables, Property, etc etc

I remember reading in ITN that it is quite difficult to distinguish between an investment trust and an investment company. I have always considered BP Marsh to be an investment trust. Apparently, it is not, yet it has a discount and a discount mechanism, so it looks like a duck, walks like a duck, so surely it is a duck?