Jlen Environmental Assets Share Discussion Threads

[spectoacc] 30/8/2019 17:00

;) Mildly regretting having sold out long ago.

Tho I've yet to see a "long term" premium hold on an IT - LTI's day is coming...

I remember buying the infrastructure ITs when they fell close to par, from c.20%+ premiums - took a lot of averaging & a bid for HICL to get out!

[jonwig] 30/8/2019 14:32

Spec you rogue ... in the infrastructure funds area sales were generally made at a premium to "NAV", suggesting the official NAV might be understated.

More seriously, though, so-called "safe" assets are all trading at a premium. If you don't like such as JLEN or TRIG, you can always buy German bonds.

[spectoacc] 30/8/2019 13:49

"JLEN Mental Premium to NAV Limited". ;)

[phillkay] 30/8/2019 13:18

Thanks jonwig

[jonwig] 29/8/2019 07:04

Sorry, can't change the header title to the new name: "JLEN Environmental Assets Group Limited".

[jonwig] 14/8/2019 06:29

@ phillkay. It's the way they work: no problem.

Borrow money, buy some assets, do a share issue, repay borrowing. Operations cover dividends. This is the latest summary (£m):

Cash from ops ...... 36
Share issue ....... 103
Assets acquired ... (77)
Repay temp. loan .. (32)
Divis paid ........ (29)

Net change of (0.4).

[phillkay] 14/8/2019 00:23

I'm interested in JLEN, very strong metrics, but I'm concerned about the large negative figure for "price to cashflow per share", what are your thoughts? Thanks, Phill

[a0002577] 03/8/2019 14:17

There is no doubt that JLEN, UKW, TRIG, BSIF, FSFL and NESF are quality stocks but like all shares they go on their annual share price walkabout. They had all become a little toppy and are adjasting downwards to a fairer price. Not quite time to buy back in.

[asmodeus] 02/8/2019 20:20

Many thanks, Jonwig. But to my mind, renewables must be a "no-brainer" ( and I don't mean that only those with no brains will buy them), but we hear unceasing propaganda and haranguing about "saving the planet" etc. that surely trusts investing in renewables must have an obvious future? So I can unferstand not buying them at a premium - but to sell them seems going to far. But I have to say "questor's" income prtfolio has not been a brilliant performer. (-0.5% since 2016/7, it says today)...

[jonwig] 02/8/2019 11:32

asmodeus - yes, I read that. I thought Labour was aiming mostly at water and PPI, but it does seem to be a bit fuzzy at times! Commenting on politics it's rarely possible to be totally objective, but I suspect Labour's hard-left socialism won't be a practical problem for investors any time soon!

Maybe Questor is right that premiums are a bit heavy, though.

[asmodeus] 02/8/2019 11:14

Richard Evans in yesterday's "Questor" columns stated that he will be selling this fund and also Greencoat UK Wind and GCP infrastructure, mainly, it seems, because "they are on high premiums, and "increasingly exposed to political risk". I have all these funds precisely because they are invested in renewable energy, and it is the carbon-producing providers that are exposed to that risk. What do others think?

[macc1] 03/7/2019 08:50

4 minute investor overview video:

[macc1] 19/6/2019 14:44

Here's a video from the management, talking around their latest results:



We've got a series of vids about them in the pipeline & will post

[spectoacc] 05/6/2019 08:17

@Sw - definitely. Just no reduction in fees ;)

[8w] 05/6/2019 08:15

No reduction in costs from synergies?

[jonwig] 05/6/2019 07:32

JLG is selling its investment division to Foresight, so the investment managers will move across. Apart from a change of name (Foresight Environmental Assets?) there should be no change in personnel.

Foresight are supposed to be well-regarded, but they made quite a hash of a VCT they ran a few years ago.

[a0002577] 24/4/2019 21:50

Hi Pyufak, glad you found it useful. I have put a lot more over on the Lemon Fool (the successor to the Motley Fool boards) which is worth a look - there is too much to post here.

Try this link

If you have to subscribe to look at it - there is no charge - just use the same name there as here It's a good site full of knowledgeable people

[pyufak] 24/4/2019 21:19

Thanks A000

that is very helpful. After the recent performance of TRIG I am currently looking at re-balancing. I struggle to explain why less diversified funds such as TRIG trade more expensive that JLEN so any thoughts on this welcome.

I have also been looking at adding some European funds into the mix and Greencoat renewables I like the look of - a wind play but not trading at as big as a a premium to NAV and has a solid dividend yield. What i don't know is the specifics of the Irish energy subsidy agreements and so I have a fun night of reading ahead for me!

[a0002577] 16/4/2019 15:53

These are my latest figures on the six GREEN infrastructure shares

Stock Bid Offer DIVI Y'ld BID Y'ld/Offer NAV Premium

BSIF 136.00 137.00 7.68 5.65% 5.61% 114.41 19.74%
Jlen 113.00 113.50 6.51 5.76% 5.74% 102.80 10.41%
TRIG 122.40 122.60 6.64 5.42% 5.42% 111.60 9.86%
FSFL 120.00 120.50 6.76 5.63% 5.61% 111.20 8.36%
UKW 140.60 140.80 6.94 4.94% 4.93% 123.10 14.38%
NESF 121.50 122.00 6.65 5.47% 5.45% 108.80 12.13%

since 28th March they have risen on average by more than 4.5% with BSIF rising 6% and FSFL and NESF rising 5%. JLEN has only risen by 3% but had risen sharply before 28th.. I know this cos I set up a portfolio on ADVFN on that date and so the % increases are on the offer buy prices + charges then and the bid prices for today.

FSFL seems to be 'best buy' -- Hope this is useful.

regards A000

[pyufak] 15/4/2019 22:10

thanks A000

[pyufak] 15/4/2019 22:08

I bought a small holding so I can keep my eye squarely on this hoping for a pullback - have been adding to Greencoat renewables as premium seems low and euro margin is so cheap at the moment.

[a0002577] 15/4/2019 10:06

I have just sold minne, Pyufak, and am holding the cash to buy back in when they drop in price as they were looking a bit toppy. Good company and as you say AD is unique to this one and there should be limited upside for a life extension of a few of their assets..

[pyufak] 13/4/2019 16:03

Hi,

I am looking for exposure to AD and this seems one of the few renewable funds with solid exposure. Any others I am struggling to find via Google? Secondly, any thoughts on potential for this fund to raise? 10% premium is the top end of the range - some explained by the expect NAV uplift from life extension. I want in, but not keen to pay this level of premium. Thanks

[chc15] 03/4/2019 12:12

Going ex div didn't really affect this..