[Request] Downing Renewable & Infrastructure Trust (DORE)

This trust IPOd this month and was available to investors via PrimaryBid among other brokers (no PrimaryBid - Freetade connection unfortunately).

Could we see this added to expands Freetrades green/renewable energy options?

Info:

  • Strategy: A diversified portfolio of renewable energy generating assets and other infrastructure assets in the UK, Ireland and Northern Europe.
  • Seed assets: An option to buy a c. £40 million portfolio of operational UK solar PV projects with an average operating track record of around six years.
  • Exclusive assets and pipeline: A pipeline with a value in excess of £1.5 billion has been identified, and exclusivity secured on assets with a total equity value of approximately £70 million in the wind and hydro sectors in Sweden and Norway.
  • Target dividends: Paid quarterly from June 2021, targeting 3% p.a. in calendar year 2021, 5% p.a. in calendar year 2022, progressive policy thereafter.*
  • Target total return on net asset value (NAV): 6.5% p.a. - 7.5% p.a.* over the medium to long-term.
  • DORE has been awarded the Green Economy Mark by the London Stock Exchange.
  • Experienced fund manager : Downing LLP has over a decade of track record deploying capital and delivering exits in the renewables space, with an average return of 9.2%** before fees. The firm is committed to responsible investment and takes an integrated approach to ESG.
  • Energy & Infrastructure team: 27 investment specialists.
  • Internal asset management team : In-house technical and commercial specialists who are responsible for protecting and adding value throughout an asset’s lifecycle.
  • Investment management fee: 0.95% p.a. of the company’s net asset value up to £500 million, and then 0.85% p.a. over £500 million.
  • Performance fees: N/A.

https://www.downing.co.uk/news/dore-acquires-first-investment-since-ipo

Downing is pleased to announce that Downing Renewables & Infrastructure Trust plc (“DORE”) has exchanged contracts to acquire its first investment, a portfolio of eight operational hydropower plants (the “Portfolio”) in central and southern Sweden. The Portfolio is being acquired from Fortum Sweden AB (“Fortum") for a purchase price of €64.5 million on a debt and cash free basis and the transaction is expected to complete in February 2021.