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To provide Shareholders with an attractive return, principally in the form of quarterly income distributions by being invested primarily in solar energy assets located in the UK.
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Did the same.
The raft of director buys at around £1 are a good indication this is oversold. I started buying at around 103p, and have build most of my position slowly over the last month.
I reinvested today after top slicing elsewhere.
Perhaps too early if this ftse rise reverses but the expected dividend next couple of weeks and then DRIP into a mid to long term hold should be fine and somewhat a level of insulation.
Nice dig up on BSIF .. looks like old news though ... AJ Bell are pretty useless in my view ... I left and moved over to Interactive Investor in 2021 ... saved me £1000 a year in AJ Bell fees for a better on line system that didn't crash as frequently as AJ Bells plus and this was the big irritation ... getting money out of AJ Bell was impossible where I had to stop trading for a week to satisfy cleared fund criteria. Useless.
Well, I wasn't going to buy any more BSIF, as I was already overweight renewables including a good-sized holding of BSIF. But BSIF stood out like a sore thumb today as my only holding in the red for the day. The price has just got silly, at 97.5p. That's a discount of 28% to latest NAV, and a forward yield of 9% (probably still 2x covered). Also, gas prices (which have probably contributed to the falling share price) have been creeping back up, though that could easily change again. I can't help feeling that the reason BSIF has been particularly singled out is because some platforms have been warning potential buyers about it or even blocking them from buying it altogether! (See https://citywire.com/investment-trust-insider/news/aj-bell-blunders-deepen-row-over-fair-value-restrictions-on-trusts/a2440235)
I was puzzled by the idea of BSIF falling an FCA "fair value assessment" (thanks for posting, DaveysShares). So I did some googling and found this:
https://www.lemonfool.co.uk/viewtopic.php?f=54&t=42922
It looks like it can be safely ignored.
James Carthew: ‘Buy’ great opportunities in run-down renewables
https://www.theaic.co.uk/aic/news/industry-news/james-carthew-buy-great-opportunities-in-run-down-renewables
Whatever the reason it's overdone in my view.
The whole sector's down. Something to do with coming elections IMO.
FYI, on Saturday I received an email from A J Bell which advised me as follows:-
"We’ve got an important update for you about an investment you hold – BLUEFIELD SOLAR INCOME FUND LTD.
Recently, this investment failed a fair value assessment, carried out by the manager of the investment itself. This means the investment may not offer you good enough value over the long term. "
I imagine this is why there was a sell off/so drop on Monday.
Apparently the FCA require a fair value assessment to be carried out periodically.
Why is the Bluefield Solar Income Fund so far under NAV?
https://www.ig.com/uk/news-and-trade-ideas/why-is-the-bluefield-solar-income-fund-so-far-under-nav--240305
I have recently bought both BSIF and NESF . They both seem an excellent investment at this time to me.
As Buffet said, be greedy when others are fearful.
All the below are now pushing out over 11% divis. Spoilt for choice. Got all these but not selling. Quite the opposite.
Usf might start buy backs soon.
Good to see Bsif director buys when dips occur.
GSF Gore Street Energy Storage Fund
USF US Solar Fund
NESF NextEnergy Solar Fund
Solar PV is now the cheapest source of electricity around the world – including in the UK, where the cost of utility scale solar has fallen in cost by 88%.
https://www.energy-uk.org.uk/insights/electricity-generation/
Doubled my holding at 99.74p. This is the best opportunity to buy this trust IMO.
https://www.energy-uk.org.uk/insights/electricity-generation/
I was very tempted to add yesterday below 100p. But I've already got 25% of my portfolio in renewable energy funds. I really ought to diversify more. But nothing else I look at seems to be as good risk/reward value. Today I spent some time seriously looking at BBGI. It's probably safer than a renewable energy fund, but lower return and more vulnerable to inflation. I just couldn't bring myself to do it.
We’ll done. I’ve been in this since day one and never thought I’d see the sp back at this level.
Keep buying these heavily discounted ITs. :=))
Bought 25000 at 101.20p
Bought or sold? There's a transaction for 25,000 shares but it's listed as a Sell.
Just bought 25000 shares.
Oh, just seen my 12k buy recorded as a sell. When will LSE stop bothering with providing information that is misleading at best. Just record the trades.
Been watching this for a short while after the recent fall. Decided that now is a good time to start building up a position here for the future.
The buy backs are a good use of funds, given dividend is 2x covered.
Having a government more committed to carbon neutral will help. Its on it way.
GLA