Distributions in excess of the Fund’s earnings and profits will be treated as a return of capital. Is now a wise time to be investing in art? Fleet House, 59-61 Clerkenwell Road, EC1M 5LA The latest fund information for The Renewables Infrastructure Group Limited Ord GBP, including fund prices, fund performance, ratings, analysis, asset allocation, ratios & fund manager information. “If a pension fund wants an allocation to infrastructure, they are more mindful to go for a manager that can aggregate smaller projects and deploy their capital within six months rather than looking at a mega manager who will take three years for capital to be committed.”, But the very size of projects can itself be a handicap. Renewables (especially wind and solar) are the fastest-growing energy infrastructure category in the world.

As Christine Senior writes, this poses both pros and cons. Such dividends and capital gains may also be subject to state or local taxes. The prospectus and summary prospectus contains this and other important information about the Fund, and may be obtained by calling 844-95-KAYNE or visiting www.kaynefunds.com. This website and its content are provided for informational purposes only. The renewable energy infrastructure sector is much broader however than just wind and solar energy.

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fund’s investments in unlisted renewable energy infrastructure.As with real estate, it may be appropriate for the Bank also to be permitted to hold more than 10 percent of the voting shares in listed renewable energy infrastructure companies. For federal income tax purposes, all dividends and distributions of ordinary income and capital gains that you receive are taxable, whether reinvested in additional shares or received in cash, unless you are exempt from taxation or entitled to a tax deferral. As Christine Senior writes, this poses both pros and cons.

James Wilson, co-head of Macquarie Infrastructure Debt Investment Solutions, says: “Because the projects are relatively small, it can be difficult to invest significant amounts of money quickly. By contrast renewables tend to be smaller, relatively quick to get up and running, yet they offer some similar characteristics. Pension funds have a yield problem. Because the projects are small, it can be challenging to aggregate up to a reasonable investment size. But it is also vital so that, after flattening the Covid curve, we can finish flattening the carbon emissions curve as well. This means growth is driven more by market demand from actual consumers of electricity, which are buying renewable energy at an unprecedented scale. The major risk is all the work put in may not result in the plant actually being built. The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The Kayne Anderson Renewable Infrastructure Fund seeks total return through a combination of current income and capital appreciation. The “Fund ESG Quality Score” is provided on a 0-10 score, with 0 and 10 being the respective lowest and highest possible fund scores. In an auction process, there is strong bidding for these investments now, so returns are coming down.”. For more information please visit https://www.msci.com/esg-fund-ratings. Amarik Ubhi, senior associate at Mercer, says renewables are considered more akin to infrastructure than real estate. Onshore wind farms are considered more tried and tested than their offshore counterparts, which are more challenging to build and maintain. Investors who wish to purchase or redeem Fund shares through a financial intermediary should contact the financial intermediary directly. These companies may be more vulnerable to disruptions arising from ESG events. Step 1: Calculate the “Fund Weighted Average ESG Score” of the underlying holding’s “Overall ESG Scores”. Daum says: “Fixed-income 10 years ago was yielding 4% to 5%, but nowadays it’s yielding 1%, or even less for short-term government bonds from AAA-rated countries. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. We like renewables in the UK because the renewable obligation is enshrined in legislation and, secondly, because there is a legal precedent on the government trying to renege on their commitment.”. Milwaukee, Wisconsin 53201-0701, U.S. Bancorp Fund Services, LLC Whilst traditional ‘safe bets’ seek to retain cash and cut payouts, renewable infrastructure funds have in contrast remained well positioned to meet their payment obligations thanks to the way that energy contracts are often fixed well in advance, offering … What Investment is the premier magazine in the UK for private investors, exploring opportunities across the market, seeking out the best funds, shares and ideas. Although a clear path through the pandemic has not yet revealed itself at the time of writing, we believe firmly that maintaining our investment philosophy and discipline is the best way we can serve our investors’ interests. Also, as the market is characterised by a broad array of operators and developers who are sometimes not as sophisticated as you see in other infrastructure sectors, there can be a real difference in project finance-ability. Bonhill Group plc, Get access to the digital pdf and have the physical magazine delivered to your door. A portion of the distribution may be a return of capital. While pension fund investors see some types of renewable investment as a sub asset class of infrastructure and so most likely to figure in their alternatives allocation, for others it acts as higher yielding alternative to fixed income.
Wilson says: “Because we are focused on debt, particularly inflation-indexed, we see debt in well-structured renewables projects as an illiquid alternative to index-linked gilts.

This site shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Christopher O’Dea reports, Copyright © 1997–2020 IPE International Publishers Limited, Registered in England, Reg No. A significant part of our portfolio is invested in anaerobic digestion (AD) plants, which feed a renewable biogas directly into the mains gas network, as well as generating electricity to keep their own operations going on site. About Kayne Anderson Capital Advisors, L.P. Kayne Anderson Capital Advisors is a leading alternative investment management firm focused on infrastructure, real estate, credit and private equity. Instead, offshore wind power is the new ‘go-to’ investment sector, as there has been a sea-change in costs. The key event was the 2017 auction for the development of the Hornsea Project Two and the Moray East fields, when 15-year contract for differences (CfDs) were awarded, at just £57.50p per MWh; this compares with the 2018 £100 per MWh target that had been set previously by the Government. The Fund's investment strategy is distinct in the marketplace as it focuses exclusively on investing in companies that develop, build, own and operate the renewable power infrastructure necessary to transition global power generation to a cleaner future, including wind farms, solar parks, energy storage and the infrastructure to bring that energy to market. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws.

Chris Holmes is co-lead investment adviser to environmental infrastructure investment fund JLEN, Further reading: Investing in the clean energy sector. The MSCI ESG Fund Ratings is designed to assess the resilience of a fund’s aggregate holdings to long term ESG risks. Prior performance shown above is for the Ecofin Global Renewables Infrastructure Fund Limited, established in November 2015 (which later changed its name to the Tortoise Global Renewables Infrastructure Fund Limited in May 2019), (the “Predecessor Fund”), an unregistered Cayman Islands limited liability company. At the end of the 20-year period, you don’t have any terminal value. Indeed, in early April we completed the acquisition of a stake worth £11m in the Peacehill Farm Anaerobic Digestion plant located in Fife, Scotland, our 8th plant in this sector. “For real estate or other infrastructure assets – airports toll roads, etc – quite a bit of value creation is only realised when you sell the asset. Shareholders should not assume that the source of a distribution from the Fund is net profit. PensionDanmark has the size and clout to invest directly in renewables. For many investors, REIFs offer an attractive means of securing exposure to the benefits of rising UK investment in these sectors, much of which is backed by long-term contracts delivering generally solid and secure returns. MSCI ESG materials have not been submitted to, nor received approval from, the US SEC or any other regulatory body. Is mining responsible investment enough for an ESG portfolio? The “Fund ESG Quality Score” assesses the resilience of a fund’s aggregate holdings to long term ESG risks. Kayne manages over $30 billion in assets (as of 6/30/20) for institutional investors, family office, high net worth and retail clients and employs nearly 370 professionals in five offices across the U.S. ² Net expenses reflect contractual fee waivers through July 22, 2022. Current performance may be lower or higher than that shown based on market fluctuations from the end of the reported period. Registered Office: 1 Kentish Buildings, 125 Borough High Street, London SE1 1NP, Henderson Park snaps up €421m Lagoas business park in Lisbon, Northern Horizon seeds care home fund with €30m Danish asset, Florida SBA creates new $400m REIT mandate. You have a special purpose company that is created, you have leverage, it’s also fairly decorrelated from the rest of the market. Missouri LAGERS backs ex-Garrison execs’ property fund, Commerz Real buys three wind farms in Sweden for €82m, IFM, Trafigura create renewables venture to target 2GW portfolio, Greenfield infrastructure: investor appetite goes from red to amber, Analysis: Testing times for infrastructure. NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE. Stampe says: “During the last couple of years more people have moved into this asset class. As a result, the Fund may be exposed to risks that the exchange rate of the U.S. dollar relative to other currencies may change in a manner that could have an adverse effect on the gain and loss generated from the fund’s investments denominated in currencies other than the U.S. dollar.

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