Gore Street Energy Storage Fund - GSF - Share chat

I too would like Gore Street Energy, I weigh renewable energy trusts quite heavily in my portfolio and Gore Street is missing, I love me a bit of battery storage, especially when companies like Gresham Energy are doing gangbusters from a revenue perspective.

They’re also raising new shares at a small discount via a few brokers and primary bid for the next few hours

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I’m genuinely surprised this is not in Freetrade still, it’s a main market equity. I want some of those dividends.

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I asked for this to be added months ago but still no luck so went to trading212 as they had it.

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GRID, which is on FT, could be an alternative but it may get caught up in the complex products debacle.

@freetrade any update on if/when this will be added to freetrade

I would suggest it is unlikely that it’ll be added. This is from the KID

Intended retail investor
The product is intended for institutional investors, professionally-advised retail investors, and non-advised retail investors with at least basic market knowledge and experience

Freetrade does not have a way of assessing anyone’s knowledge.

It’s worth noting that in their own KID they list the 5-year upside in a favorable scenario of 17.25%. You can get that in so many less risky investments.

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@NeilB Thanks for the update.

I’ve been on freetrade for a year now and am still not bankrupt or lost my house, surely that would show i now have some basic knowledge and experience.

In D&D terms i would say i was a level 3/4 nvestor. Currenly on a quest up Lubu mountain searching for a bag of holding.

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What’s Important to remember is this wording means different things to different people. It all comes down the Freetrade being able to prove they’re not enabling someone to buy something they potential don’t understand.

Freetrade have a duty of care in the same way your employer might be liable for falling ladder if they haven’t trained you properly & had systems in place.

This shouldn’t be read as personal.

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I agree 100% but as others have said that should mean crypto is definitely off the table. I guarantee most do not understand crypto in any way, shape or form🤪
Would be interesting to know how it is actually worked out what level we know is acceptable or not. I thought 4D would make me money😥

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Crypto is probably, I don’t know for sure, on the back burner right now.

Securities like this are regulated by the FCA and it is complying with regulation that has led to Freetrade turning off some securities this week.

Crypto is also most unregulated so can’t be compared, it should be regulated which is probably why Freetrade have slowed work on it.

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I’m not sure what is complex about Gore St but then again I don’t know much about it so maybe that’s the point. I thought they just owned and operated BESS.

One concern I would have though is whether or not they have factored the decommissioning costs, which are likely to be substantial, into their financial modelling. I’ve heard rumours that some BESS companies may not be. Which I could believe because it feels like a far away problem. It also makes the levelised cost of storage look a whole lot better if you conveniently leave it out.

Of course as a proponent of vanadium flow and potentially other redox batteries I would say that.

I am not an expert on this: nevertheless I note that on its web page it states

Gore Street Capital Limited is an entity authorised and regulated by the Financial Conduct Authority, to act as the Alternative Investment Fund Manager (“AIFM”) to the Gore Street Energy Storage Fund PLC.

That means it comes under the The Alternative Investment Fund Managers regulations. Note in particular the comments under ###What does the underlying EU regulation and UK law do?

AIFs are funds that are not regulated at EU level by the Undertakings for Collective Investment in Transferable Securities (UCITS) Directive. These funds are usually aimed at professional and institutional investors, although it is possible for AIFs to be marketed to retail investors, subject to meeting certain requirements. Hedge funds, private equity funds, and most kinds of unregulated collective investment schemes are traditionally AIFs. It is also possible for listed investment companies whose securities are traded on the London Stock Exchange and other regulated markets, and authorised open-ended funds to be AIFs. Professional and institutional investors are ‘sophisticated’ in nature, and are mainly organisations making investments on behalf of their members, for example pension funds, insurance companies and corporates.

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I think what this post has made me realise is that in the context of an organisation that owns and operates assets I don’t understand what the difference is between a fund and a company. I.e. gore street 100% owns the majority of its projects. How does that make it different to say Anesco which also owns and operates BESS but is a company? Like how is it different to say Greggs calling themselves ‘The sausage roll fund’ with a range of 100% owned bakery projects?

I understand the difference when it’s a fund that owns (but doesn’t directly operate) a range of different assets on behalf of investors in the fund. Although now I’ve said that I’m not sure I’m even 100% clear why those funds couldn’t / shouldn’t just operate as listed companies?

I need look more closely at Gore st. I’m not an investor but I do like to keep an eye on which battery technologies are being purchased where.

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Look who was wrong! :man_facepalming:t2:

Is it up and running then is it? It’s not showing for me on the app, but from past experience i know it can take a little while.

Will be taking a look at it tomorrow then :grin:

One of the :freetrade: ’grown ups’ made it live, I just merged the topics

I’m tempted to add GSF or GRID as I don’t have much exposure to infrastructure. Charges for the latter seem more reasonable at 1.23% vs 2.20% plus a performance fee. However, I’m concerned that GRID could later be pulled because it seems to trade on the Specialist Fund Segment.

Setting that concern aside, I’m not sure I can bring myself to pay a double-digit premium to NAV – how do others reconcile that? For me, it’s either wait until sentiment changes and the premium comes in or buy a broader trust like JLEN which trades closer to NAV and includes exposure to energy storage.

Decisions, decisions! :thinking:

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Still can’t see it. :confused:

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