View more on these topics

Guinness raises money for EIS

Guinness Asset Management is raising up to £10m for its EIS Fund 3, an enterprise investment scheme fund aiming for growth by investing in the renewable energy and energy efficiency sectors. These sectors are described as sustainable infrastructure.

Guinness says the current economic climate of low interest rates, volatile stockmarkets and high property prices is challenging for investors because it is hard to know where to invest for attractive returns without exposure to

high risks. It intends that the EIS fund 3 will provide  attractive risk-adjusted returns by investing in unquoted companies that develop, build, own and operate sustainable infrastructure projects in the UK.

Guiness says investment opportunities in sustainable infrastructure projects are being driven by high and rising energy costs, environmental and climate change policy and ensuring security of energy supply rather than being wholly dependent on oil from the Middle East and natural gas piped from Russia.

The Guinness EIS previously tapped in to the benefits of combining feed-in tariffs with EIS tax reliefs with its first two ETF funds. This third EIS fund will identify companies with similar characteristics to FITs projects, such as highly predictable revenues, contracting with blue chip companies, proven technologies with established operating history and low correlation with other asset classes.

The fund is targeting returns in excess of £1.20 net of fees for each £1 invested and expected to have a life of four to five years. To reduce risk, the EIS team aims to invest after planning consents and will avoid funding early stage project development. It also intends to work only with good quality developers and contractors with a consistent track record of delivering projects on time and on budget.

Renewable energy and energy efficiency are popular sectors among EIS funds and Guinness is known as an energy investment specialist, which could be attractive. However, competition could be provided by the Sustainable Technology Investors EIS fund, plus the forthcoming renewable energy and energy efficiency EIS funds expected from Ingenious.


FTSE closes down over 5% this week

The FTSE 100 has fallen by over 5 per cent this week amid continued concerns over Greece and Spain. The blue-chip index ended the week down 5.52 per cent, to stand at 5267.62. European markets also suffered with the German Dax down 4.7 per cent and the French Cac 40 down 3.9 per cent this […]

Tyrie: BoE crisis role needs wider review

Reviews into the Bank of England’s response to the financial crisis are too narrowly focused and should have been done much earlier so they could inform the current regulatory shake-up, according to Treasury select committee chairman Andrew Tyrie. Yesterday, the Bank announced it has set up three internal reviews into its response to the financial […]


Standard Life launches industry body to improve client communications

Standard Life has launched an industry consulting body to improve customer communications around changes such as the RDR and gender neutral pricing. The Customer Communications Council will debate ideas to improve communications by working with advisers and the wider financial services sector. It will also aim to keep advisers informed of future plans for customer […]


PIMS: Firms say FSA is unsure over role of platforms

Axa and Seven Investment Management say the FSA is confused over whether platforms are service providers or product providers. Speaking at the PIMS conference yesterday, Axa managing director of UK distributors David Thompson said the regulator seems to be undecided about what kind of businesses platforms operate. Thompson said: “It seems like the FSA cannot […]

Benefits - thumbnail

Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm