LONDON, September 30, 2013 /PRNewswire/ --
Guinness Asset Management announces that Guinness EIS 5 is now open for investment. This is a discretionary managed service that will invest in UK Sustainable Energy companies through the tax-efficient EIS structure.
Guinness EIS 5 is targeting attractive risk-weighted returns by making investments in UK Sustainable Energy companies which have predictable revenues, low technology risk and low correlation with other asset classes.
We have identified investment opportunities in Sustainable Energy companies which have these investment characteristics. Investment opportunities include solar photovoltaic, wind, hydro electric, anaerobic digestion and biomass projects. We aim to deliver returns in excess of £1.50 to investors (including £0.30 EIS Income Tax Relief) net of all fees per £1.00 invested.
Guinness EIS 5 will be managed by Shane Gallwey and Edward Guinness who bring extensive private equity and renewable energy experience and have raised and invested Guinness' existing EIS offerings. They are supported by an Investment Committee that complements the team with the experience of Tim Guinness, Tom Hill-Norton, Andrew Martin Smith and Lord Flight, Chairman of the EIS Association.
Shane Gallwey, Fund Manager commented on Guinness EIS 5:
"We continue to see a wealth of investment opportunities in the small-scale renewables sector. The UK has a maturing renewables sector with falling technology costs and increasingly experienced developers. The country's high and rising energy costs has led many businesses to look to renewables as a way of reducing these costs.
Our pipeline includes exciting new investment opportunities as well as follow-on investments in existing companies."
Diversification and low correlation with equity markets
Edward Guinness, Fund Manager said:
"We are seeing many investors making EIS investments as a means of diversifying their portfolios, generating returns with low correlations to the equity markets and making investments that have attractive returns and tax benefits."
Notes to Editors
Enterprise Investment Scheme ("EIS")
The EIS benefits for investors are well documented, and include:-
- 30% Income Tax Relief
- No Capital Gains Tax
- CGT Deferral Relief
- No Inheritance Tax
- Loss relief
- Target Fund Size: £10 million
- Minimum Individual Investment: £10,000
- Closing Dates: first close on 31 December 2013; second close on 1 April 2013; final close on 30 June 2014
- Expected Life of Fund: 4 to 5 years
Guinness Asset Management Limited
Guinness Asset Management Limited is a London-based specialist fund management company that is recognised as being a leader in energy investing. Together with its US sister company, Guinness Atkinson Asset Management Inc, the firm currently manages over US$600 million.
Guinness Asset Management manages EIS portfolios for a large number of clients invested across renewable energy companies. The firm also runs seven quoted funds focusing on global long only equity investing. The Guinness range of quoted funds includes The Guinness Global Energy Fund, the Guinness Alternative Energy Fund, the Guinness Global Equity Income Fund and the Guinness Global Money Managers Fund.
Tim Guinness founded the company in 2003 following the acquisition of previous business, Guinness Flight Global Asset Management, by Investec Asset Management.
Guinness Asset Management Limited and Guinness Atkinson Asset Management Limited are authorised and regulated by the Financial Conduct Authority. Guinness Atkinson Asset Management Inc is regulated by the SEC.
For further information please contact:
Shane Gallwey / Edward Guinness / Hugo Vaux
Guinness Asset Management
SOURCE Guinness Asset Management