NextEnergy Solar Fund - NESF - Share Chat

The company aims to provide investors with a sustainable and attractive shareholders that increases in line with RPI over the long term by investing in a diversified portfolio of solar PV assets that are primarily located in the UK. To give investors with an element of capital growth through the reinvestment of net cash generated in excess of the target dividend in accordance with the investment policy of the company. The company intends to achieve its investment objective by investing exclusively in solar PV assets primarily located in the UK. Up to 15% of the investment may be invested in solar PV assets that are located outside the UK.

Just found this on DividendMax. It looks like a great company in the renewables sector. I especially like the dividends increasing with RPI. Any excess funds are then ploughed back into investments to grow the business.

Are these on :freetrade:? I can’t find them?

I can’t find either and I’m not locked to an isa

I’ll change it.

They are not yet on FreeTrade☹️

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They are on freetrade now.
Aim is for a mix nav and dividend increases

NEXTENERGY SOLAR FUND

At IPO

Interview with manager
https://www.theaic.co.uk/companydata/nextenergy-solar-fund/announcements/509957

https://www.theaic.co.uk/aic/find-compare-investment-companies?sec=REI&sortid=NetGearCum&desc=true

High gearing partly preference shares partly revolving credit.
Exdividend yesterday fell further than dividend.
Big discount at 29%
Dividend in excess of 10%
Dividend Covered 1.3x
Buy backs in progress.

Edit double check no purchase tax domiciled jersey

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An aside roughly half the debt is fixed at 4.5%.
I wonder if a RCF will be available in the next 5 years that low.
IE 3% base rates plus 1.5% extra. You would have to be very low risk to get it as low at 1.5% for the extra.

Reference the 4.5% preference shares, I couldn’t find them on Hargreaves Lansdowne. So asked them if they were available, assuming the person I contacted was competent they said they couldn’t find them.
This implies they were never listed and were sold directly to institutes.

Good chance of nextenergy falling out of the FTSE 250 index.
May explain share price weakness.
Probably but not a certainty it could fall further if it does