Ecofin Water&powr Opportunities Share Discussion Threads

[praipus] 12/11/2008 14:04

Ecofin Monthly report is out now



Clusium the following supports your view on corporate debt

[praipus] 11/11/2008 15:19

IMHO. Overall market sentiment might widen discounts as the $2 trillion of credit evaporates and institutions and individuals destabilised dash for liquidity by selling equities. There is no doubt we are in for an serious roller coaster ride.

However Mr Obama's policies could possibly kick utilities and renewable in to a new orbit and valuations could get a lot firmer factoring in safety and surety of income. Ecofin once estimated the need for $13 trillion to build and update infrastructure world wide and that could be very good for us.

Not sure about dilution or capital raising being required. The windup AANAV payable to cap holders is 2.5% below NAV so Ord. holders stand to gain if they Cap holders cash in.

All that said we are at the mercy of mean "Mr Market" and he like share prices can do anything.

[clusium] 11/11/2008 07:42

Very pleased to see the march in the caps yesterday, but the ords continue to weaken, despite recent improvement in their NAV. Has anyone any suggestions as to how I can find out what the effect of March 2009 is going to be on the ords.

It looks as if capital raising or dilution might harm them, but I have no idea how to discern any of this from the original prospectus. There must be some other holders of ECWO who are watching all this, hopefully with more knowledge than mine.

[praipus] 07/11/2008 14:24

Ecofin Water & Power Net Asset Value(s)

RNS Number : 6520H
Ecofin Water & Power Opps PLC
07 November 2008

ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 5 November 2008, the un-audited Net Asset
Values per share of the above investment
trust company were:-
Income Shares: Net Asset Value: 99.60p per share (including undistributed revenue)
Capital Shares: Net Asset Value: 572.90p per share
Ordinary Shares: Net Asset Value: 162.66p per share (including undistributed revenue)
Gross Assets: £617,520,000
Loan Facility: £176,328,000
Net Assets: £441,192,000
Phoenix Administration Services Limited - Company Secretary


This information is provided by RNS
The company news service from the London Stock Exchange

END

[praipus] 06/11/2008 09:53

Ecofin Water & Power Net Asset Value(s)

RNS Number : 5315H
Ecofin Water & Power Opps PLC
05 November 2008

ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 31 October 2008, the un-audited Net Asset
Values per share of the above investment
trust company were:-
Income Shares: Net Asset Value: 101.52p per share (including undistributed revenue)

Capital Shares: Net Asset Value: 514.94p per share
Ordinary Shares: Net Asset Value: 155.45p per share (including undistributed revenue)
Gross Assets: £604,523,000
Loan Facility: £185,200,000
Net Assets: £419,323,000
Phoenix Administration Services Limited - Company Secretary


This information is provided by RNS
The company news service from the London Stock Exchange

END

[praipus] 02/11/2008 20:56

From a portfolio perspective some say you should subtract your age from 100. The result being the % to invest in equities and your age the % to invest in bonds.

Utility equities are considered by many institutions to sit between bonds and equities in terms of risk.

In the example above I mean the term bonds to refer to government bonds or gilts. Not corporate bonds.

The trouble for me with Bonds is that some of my early ECWC holdings are up 975%, though I also bought some at £8.70, £7.40, £6 and £4.40 more recently so down over 50% overall! Gov bonds/gilts at 4.63% interest/yield would take me 210 years to achieve anything like the same return as the early purchases!

Though compared to the later purchases bonds would be much better. In fact I think someone posted here suggesting moving into bonds when ECWC was £7 if I had done that I would be a bit better off today.

[clusium] 02/11/2008 16:08

Quite a bit in the press (e.g. this weekend's FT) about bonds - spreading via a fund, say. Any views?

[praipus] 31/10/2008 14:52

Ecofin Water & Power Net Asset Value(s)

RNS Number : 1024H
Ecofin Water & Power Opps PLC
31 October 2008


ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 29 October 2008, the un-audited Net Asset
Values per share of the above investment
trust company were:-
Income Shares: Net Asset Value: 101.49p per share (including undistributed revenue)

Capital Shares: Net Asset Value: 481.05p per share
Ordinary Shares: Net Asset Value: 149.76p per share (including undistributed revenue)
Gross Assets: £563,552,000
Loan Facility: £160,403,000
Net Assets: £403,149,000
Phoenix Administration Services Limited - Company Secretary


This information is provided by RNS
The company news service from the London Stock Exchange

END

[praipus] 24/10/2008 21:19

If you can cope with the hype these guys on CNBC are positive on dividend payers and renewables, Japan and the US!

[praipus] 24/10/2008 17:05

Ecofin Water & Power Net Asset Value(s)

RNS Number : 6342G
Ecofin Water & Power Opps PLC
24 October 2008


ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 22 October 2008, the un-audited Net Asset
Values per share of the above investment
trust company were:-
Income Shares: Net Asset Value: 101.37p per share (including undistributed revenue)

Capital Shares: Net Asset Value: 491.24p per share
Ordinary Shares: Net Asset Value: 151.36p per share (including undistributed revenue)
Gross Assets: £569,766,000
Loan Facility: £162,023,000
Net Assets: £407,743,000
Phoenix Administration Services Limited - Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange

END

[praipus] 23/10/2008 19:00

The monthly report quite clearly states that for renewables the availability of credit is an issue in future capital expenditure terms.

The rest is sentiment and wont be over come until the US election is out the way or the next set of earnings are announced IMHO.

The credit crisis being sorted through governments realising they need to rescue the economy and jobs before savers, failed banks or failed/toxic derivatives would also help of course.

[bangor] 23/10/2008 11:15

This has now retraced almost two and a half years of gains. The falls are no surprise in this climate - anyone not watching their assets swirl down the plughole is the exception. But disturbingly in the occasional euphoric days when the markets fight back these have hardly participated in the rises.

[clusium] 20/10/2008 17:09

Yes, Praipus. Good addition.

[praipus] 20/10/2008 16:39

Good news flowing in, from the FT

Kedco tests water for interest in clean energy

[clusium] 20/10/2008 15:40

See Breaking Market News report at 15.32 today.

[clusium] 20/10/2008 14:09

Thanks for that, Praipus. I'm probably not as concerned as I should be about the market generally, but am more worried about any built in weaknesses in Ecofin, especially the consolidation in March. Wish they had stuck more closely to WATER, but suppose renewable energy will pay off in the long term if it doesn't get squeezed too hard in the interim.

[praipus] 19/10/2008 20:52

Too frightened to say or do anything in this market Clusium. Though Warran Buffet allegedly has sold all his $500m in US government bonds and bought equities. Specifically not calling the bottom of the market but indicating he thinks stocks are cheap.

Monthly update

[clusium] 19/10/2008 16:21

In this unrelieved spell of gloom, so far, for both the caps and ords holders, apart from general market conditions, is there anything in particular that either the caps or the ords need to be especially wary about as March approaches? How does anyone see the ords behaving after the consolidation?

I have been a longterm holder of ECWO but am wondering if I need to look elsewhere, even at this late stage - or should I just relax in the thought that, as Matthew Bolton said 250 years ago, "Power is what everyone wants"?

[praipus] 17/10/2008 15:45

Ecofin Water & Power Net Asset Value(s)

RNS Number : 1145G
Ecofin Water & Power Opps PLC
17 October 2008

ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 15 October 2008, the un-audited Net Asset
Values per share of the above investment
trust company were:-
Income Shares: Net Asset Value: 101.26p per share (including undistributed revenue)

Capital Shares: Net Asset Value: 479.70p per share
Ordinary Shares: Net Asset Value: 149.37p per share (including undistributed revenue)
Gross Assets: £557,228,000
Loan Facility: £155,120,000
Net Assets: £402,108,000
Phoenix Administration Services Limited - Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange

END

[praipus] 13/10/2008 11:16

"the underlying shares should recover - but will the caps be swallowed into ords by then and we lose the gearing?"

Possibly this crash/crisis doesn't look like ending soon.

However on the bright side

The United States presidential election, scheduled for Tuesday November 4, 2008.

Historically there has been a strong rally after the political/fiscal/monetary uncertainty is lifted. The $ seems to be strengthening against all world currencies so though I'm not happy the relative strengths of utilities is still there IMHO and I'm staying long of capital shares.

Gearing is an important consideration. In the scenario you describe and if the capital structure going forward only consisted of ordinary shares you could presumably always utilise CFD's.

[david77] 11/10/2008 08:14

"It is announced that at the close of business on 8 October 2008, the un-audited Net Asset
Values per share of the above investment trust
company were:-
...
Capital Shares: Net Asset Value: 506.98p per share"

The benefit(??) of gearing:

".. 31 August 2008, .. Capital Shares: Net Asset Value: 820.28p .."

".. 3 September 2008, .. Capital Shares: Net Asset Value: 803.55p .."

".. 10 September 2008, .. Capital Shares: Net Asset Value: 746.40p .."

".. 17 September 2008, .. Capital Shares: Net Asset Value: 667.07p .."

".. 24 September 2008, .. Capital Shares: Net Asset Value: 667.60p .."

I realise that everthing is falling out of bed but I thought that utilities are relatively safe - they shouldn't go broke and the underlying shares should recover - but will the caps be swallowed into ords by then and we lose the gearing?

[praipus] 10/10/2008 19:40

CNBC calls today the bottom!

[praipus] 10/10/2008 14:39

Ecofin Water & Power Net Asset Value(s)




RNS Number : 5873F
Ecofin Water & Power Opps PLC
10 October 2008


ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 8 October 2008, the un-audited Net Asset
Values per share of the above investment trust
company were:-
Income Shares: Net Asset Value: 101.15p per share (including undistributed revenue)

Capital Shares: Net Asset Value: 506.98p per share
Ordinary Shares: Net Asset Value: 153.37p per share (including undistributed revenue)
Gross Assets: £569,091,000
Loan Facility: £155,208,000
Net Assets: £413,883,000
Phoenix Administration Services Limited - Company Secretary


This information is provided by RNS
The company news service from the London Stock Exchange

END