The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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That's where I heard about itn
Therefore in my opinion a considerable increase in income and NAV to come.
Projects in construction are valued at cost.
Contacted GSEO about capital needed to finish projects. They have £74 million cash and they said
"All the projects that are currently in construction are fully funded. We do not require additional capital to fulfil these commitments."
Https://citywire.com/investment-trust-insider/tag/renewable-infrastructure
Citywire has great coverage on investment trusts. Article from yesterday on gseo.
Yes, GSEO seems incredibly cheap: 8% yield with under 60% of capital deployed and virtually no leverage. And if I understood correctly, it claims that all its contracts are fully inflation linked. I noticed that the contracts for its US storage are only 3 years. We just have to assume that there's going to be continued demand for those. And I generally prefer funds with a proven track record. We've seen other new funds turn out to be badly managed. But I'm optimistic enough about this to risk a 3% investment.
I was always rather doubtful about battery storage funds, fortunately as it turned out. I did get into GSF late last year, when it was already at a 40% discount, but later changed my mind, getting out with a modest profit. I think the battery funds are at too much risk of the grid operators changing the rules on them. At least the generating funds like UKW have much of their income covered by subsidies and guaranteed prices. It would be pretty extreme for the government to renege on those. I'm more concerned about their market revenues, as it's the government that sets the rules of the market, and we know those are going to be changed.
Prospects look really good here - especially taking into account that more of our assets here will be revenue generating soon. Did you miss out on GRID ? I wish I’d missed it !!!
I went ahead and bought some GSEO, my standard initial position size (about 3% of my total investments).
I've only just discovered GSEO. Strange I haven't come across it before, because I've been looking at a lot of different renewables funds over the last 2 years or so. I currently hold UKW, BSIF and AERI. I wasn't going to buy any more renewables as they already make up over a quarter of my investments. But I have some cash to invest, after taking some profits (not in renewables, needless to say!), and I'm having difficulty finding any thing else I like. I was waiting for a bit of a market pullback. But GSEO looks cheap (even after today's price bump), so I'm thinking of going for it. There's also some diversification benefit, relative to my other renewables.
"Continuing to accumulate whilst at a disproportionate discount"
Discount is bigger than it appears. Assets yet to come on stream are valued at cost. One Trust recently sold a “shovel ready “ project at twice its valuation as it was valuing at cost.
Valuing at cost is similar to buying land getting planning permission but still Valuing at the original cost of the land.
Annual report worth a read.
Continuing to accumulate whilst at a disproportionate discount.
I’m a gluten for punishment, I just keep buying these trusts who are way below their declared nav and fundamentals/risk. Fads and sentiment can be a huge driver one way or the other.
Some have been a disaster but management have been at fault in all the cases I lost large amounts of money. The only recompense is that yearly income from shares, etc eventually wipe out losses. Shouldn’t be like that but management quality seems to be getting worse over the years I’ve been involved with investing....70’s onwards.
This one still is at a huge discount. Management appear to be competent. Diversified Geo assets. I’m a long term holder.
See where we are next year. GLA.
I always assume that the buybacks have stopped the sp falling even further!
But the rns this morning surely served to point out just how crazy market treatment of the company (and of Gore Street too) is. A growing, fully covered (just) dividend of around 9% and a discount to nav of over 40%. What's not to like?
Is the downturn in renewables finally turning? Not in all shares by the look of it.
Gseo buying back shares since last Sept with no real effect on sp.
Good to see today’s RNS.p and initial reaction.
Added more yesterday but well down on average sp.
Read an article recently indicating Renewables and Infra probably at a good entry point.
:-))
Looks as if my broker has resumed my broad desire to be fully invested as a dealing note has been sent to me for a bargain executed in my ISA. The ISA for self and separate one for wife are managed on a discretionary basis. I doubt I will add anything to further intelligence but most equities in portfolio tend to be held for an average 3 years, though some for much longer, of course.
Can’t win, pump up for Divi then issue a placing. Back we go again.
Movement at last. First dividend.
A lot of these green IT’s at IPO have a Nav below the normal 100p history shows they can go down before they go up. Some of the usual suspects are now below the original ipo from many years ago. Only a small amount in this trust initially....dead money until the divis start. They are building up their assets so not long before a meaningful return?
Gave it 5 months before deciding I'd broken my golden rule - ie never buy something HL recommends !
As I said earlier - may have the HL kiss of death !
I've learned in the past that companies like this take a long time to produce profits and pay dividends. Now I don't consider them for the first year as I only invest for dividends these days. As it happens, my broker won't even let me invest here, no idea why, they never give reasons. Sure it will come good eventually.
anybody know why this has sunk below the 100 ?
Im just hoping it isnt another Hargreaves Lansdown - 'push one of your chums investments' scenario !
Does anybody know what they have lined up? Any news in the pipeline?
GSEO Non Exec Directors will help themselves to £220k annually, but they have shown their 'faith' by investing £35k between them in GSEO shares. So after 8 weeks they are in clover.
This club now has four members! Let's see what happens.