The Renewables Infrastru... Share Discussion Threads

[hindsight] 26/6/2023 16:42

Agree topvest, just Resi to crack and 1990s re-run will be complete

[topvest] 26/6/2023 15:27

I've added some more today, so my position size here is now about right. A 6.5% yield (and well covered and increasing) is a good long term bet particularly when you get a 20% discount. This is a quality vehicle. Happy to hold and collect irrespective of short-term weakness. Interest rates and short-term bonds may go a tad higher, but I would be surprised if they don't top out somewhere below 6% both here and in the US. Let's face it, things are going to start breaking 'big-time' after 15 years of free money. The real issue is who is going to be building these assets if the listed vehicles can't raise any money?!

Thinking out loud fundraising anything at the moment is virtually impossible unless you have private equity. Listed markets are closed. Debt and RCFs are too expensive. Recession coming and interest rates will drop like a stone once it is clear that the economy has crashed. The 1% inversion of the yield curve is shouting a massive warning, but is being ignored. Its the biggest inversion for 40 years and is 1-yr old on 5 July!

[the deacon] 26/6/2023 14:03

Agreed. I've added quite a lot here and a few other renewables funds

[pinemartin9] 26/6/2023 13:55

Starting to look very cheap here!

[stewart64] 19/6/2023 11:46

Quite a correction today. When you can get nearly 6% FSCS protected in a 3 year Bond then the yield gap is almost at parity. And to be fair to savers, that's probably right. Why should asset holders and the Government always pay negative real interest rates on their debt. Obvs they still are, but I think that the direction of the two will soon cross. You need to be above the curve ultimately to sort the inflation the MPC/ Government largesse on bennies/ Welfare has unleashed on us.

[tuftymatt] 18/6/2023 09:03

Yeah I hold this along with NESF and a recent position in FSFL too. All look weak in the short term but as we keep being told this is the sector to be in for the long term as it's what the world needs badly.

I agree that interest rates are playing a part in a move from risk on to risk off but as Gateside said, get a decent yield here with a good chance of capital growth too when rates fall at some point next year.

Good luck all 👍🏻

[stewart64] 18/6/2023 08:27

Covid flash crash aside, this is the lowest weekend finish since March 2019. That surprises me, it's not a REIT, it's not debt, it's Equity in the future. Maybe the Bank of England's Banana Republic style incompetence/ 5.75% Base Rates are already priced in at this level

[gateside] 20/5/2023 21:54

I currently hold the following....
Some nice yields.
Buy now while interest rates for cash are still high, that way you'll lock in higher yields, and most likely get some capital gain when the BoE starts reducing interest rates.

NESF 8.1
FSFL 6.9
GSF 6.7
SEIT 6.3
JLEN 6.2
BSIF 6.2
TRIG 5.9
DORE 5.0

[stewart64] 20/5/2023 21:00

Your argument would stand up if we were mirroring the inflation rate of other advanced economies, we are about double the average. He presided over a zero rate interest rate policy coming out of Covid when we there were supply side constraints and overwhelming demand, you couldn't even book a restaurant table and meanwhile the housing Market stepped into overdrive with its ( now) knock on effects on rental and housing costs. These were school boy errors of the first order.

[smidge21] 20/5/2023 17:13

So, what would you have had him do in the face of a global energy spuke and widespread shortages? Surging demand was never the problem. Best they could have hoped for was to limit imported inflation by keeping £ firm and this they have done after allowing for the Truss debacle and, even in that, the BoE orchestrated the end of Truss by ending Gilt support programme. He/they brought down a rogue Administration that would have impoverished us all - but he can hardly say that

[stewart64] 20/5/2023 16:55

Bailey is beyond hopeless he has missed the 2% target by 200% since he took over. ( 20% inflation against just over 6% targeted). We would now need 6 years of zero inflation to get back to where we should be. The least they can do is take away his index linked pension, let him have one that goes up 2% each year. Maybe then he might take the 2% target seriously.

[hindsight] 20/5/2023 12:02

I experienced Bailey in the ECN saga when he was head of FCA. It beggers belief how such hopeless people get these top jobs

Anyway sold some Jlen and added here

[igoe104] 20/5/2023 10:21

Him and the government both countable. Billions of pounds wasted in these business loans, that have never been paid back. Some folks only had small market stalls but still could get upto 50k a per business. No wonder a few months later, loads were filing for bankruptcy. They didn't even bother checking these properly and were giving them 50k within 74 hours. Now the rest of us are having to pay up for the mess with increased taxes like capital gain threshold reductions etc etc

[stewart64] 20/5/2023 10:03

Andrew Bailey's complete incompetence at printing money whilst interest rates were at zero during a post Covid boom now coming home to roost I'm afraid.One and two year cash fixes now approaching 5% and rates are not coming down when we have the worst inflation record of any advanced world economy. Why take the Equity risk when cash is almost matching the best dividend payouts.

How the hell Bailey has the gall to claim it is not his fault. He has done the worst job of any public figure ever

[tuftymatt] 04/5/2023 09:06

I was hopeful of a run towards 135 ahead of ex divi in a week but with wider market issues I am not so sure now.

Good luck all 👍🏻

[igoe104] 16/3/2023 16:59

These are lagging way behind UKW now. Big Director buys, give UKW holders more confidence. I hold both for the record...

[yump] 15/3/2023 13:51

It will just be a reaction to potential gilt yield rises, increased cost of capital, plus some economic contraction which has sent most prices down

[makinbuks] 15/3/2023 11:57

Fund redemptions? This is a closed end investment trust

[igoe104] 13/3/2023 09:46

Probably fund redemptions, they will be forced sellers because their clients are panic selling.. opportunity for those with spare cash...

[gateside] 13/3/2023 08:53

What's causing the fall here?Much weaker than other renewables currently are.

[stewart64] 24/2/2023 08:15

The gilt rates are a reflection of the total failure of the MPC to control inflation. They stoked inflation after lockdown with zirp. Totally unnecessary, the economy was in overdrive and there were supply side constraints, unbelievable school boy errors, Bailey. You couldn't even get a table in a restaurantsuch was the demand. Mann was probably the only exception of sense on the Monetary Chumps Committee. They have left us with sticky inflation, high house and rent prices and wage demands. They should by and large be sacked.
We have the worst inflation record of just about any advanced economy. The Chumps have missed the 2% inflation target by 50% over the last 20 years. BOE have lost all credibility.
The sheer brass neck of the Committee, to blame all this on Truss, that's already worked its way out. It's you BAILEY that needs to fall on your sword.

[tuftymatt] 24/2/2023 08:14

I agree nerja that higher fixed income rates mean risk off is becoming more of a go to over equities.

Like with most things in life there needs to be a healthy balance which is why I am happy to hold here and add a bit on a dip to 120 if it happens. Hopefully it wont and we can push on to 140 though 👍🏻

[nerja] 24/2/2023 06:18

I think the gilts rates going up has a follow on effect for the bond proxies, all mine have come of some, the higher the divi they pay it seems the less they have fallen over the week. Trig and Ukw have what appears the lowest divi of the group so that may explain it. The real question is how high are the rates going up to, if it goes to 5% on a gilt why take the risk of only 5% on these is probably the thinking.

[gateside] 23/2/2023 20:24

Yes they were OK, but something spooked both UKW & TRIG this afternoon.

Maybe a Brokers note knocked them back. Both will do well long term.

[igoe104] 23/2/2023 20:01

Ukw results looked ok to me? 13% increase in dividend as well.