Ignoring the alternative trusts which have the highest discounts, the market seems to be discounting the trusts at a broadly equivalent rate (roughly 9-10% at first glance). Here are the levered WACCs in order of discount to NAV:
- US Solar Fund: c. 7.2% (exact not announced)
- Ecofin: 7.5%
- Octopus: 7.5%
- Aquila: 7.2%
- Downing: 7.7%
- NextEnergy: 7.3%
- Foresight: 7%
- Gore Street: 9.3%
- VH Global: 8.8%
- TRIG: 7.2%
- UKW: 10%
- Harmony: 10%
- BSIF: 7.25%
- Atrato: c. 8.5% (levered back up)
- JLEN: 8.4%
- ThomasLloyd: c. 11%
- Gresham: 10.8%
- Greencoat: 9%
Only outliers look like TRIG and BSIF, which are both mature and large with low OCF which might explain it.