Which shares does this community hold?

I started one but no idea how I’d link it to this page? Was interesting. I had Tilray. Sold and bought Aphria now.

I can’t comment on the other three, but I am familiar with quite a few of the holdings in INRG.
Are you comfortable with the relative price of many of its top holdings?

I definitely think that renewable energy is the future and it is the reason why I bought into some of its constituents, but the relative prices like P/E ratio are getting a bit over the top. For example, Plug power which is 9.3% of the ETF has revenues of 300 million in the last 12 months (based on Yahoo Finance) and a market capitalisation of well over 30B USD a few days ago. Even if it has potential high margins and rapid growth rate it’s hard to believe.

I am interested in seeing what you think.
Also, is it just a very small position for the charity?

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Thank you for the warning. This ETF was suggested by our advisors. You make me take a closer look. Plug Power at 9.3% is indeed making a big bet. I will share with our investments committee. We have also been thinking about TRIG Renewables Infrastructure Group. But note it has 12% premium to NAV.

The charity is particularly concerned to make investments with an ESG profile and we have been thinking that making investments in themes such as innovation, healthcare and clean energy can be a way to ensure our equity exposure avoids areas like oil.

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I guess the question has to be, how much is that 1.5m in the grand scheme of things, and don’t tell us.

If it is 100% of spare funds, then its a pretty big bet on generic tracker funds on the ‘in the moment’ of 2020 sectors.

It all depends on your investment ethos, but I hope you’re not paying a lot to your advisers, only to tell you to invest in bespoke index ETFs.

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I appreciate the comments which make me think. Part of the appeal of these thematic funds is to get away from active management, where we have to assess how well the managers are doing. The other is the ESG character that these funds have.

We have been discussing benchmarks for our investments. One suggestion is the FTSE 100 on the grounds we are a UK institution with UK liabilities. I think that is silly, as FTSE 100 is hardly ESG in character, having oils, miners and tobacco in 5 of its top 10. Better to challenge ourselves against a global index like MSCI World, or an ESG version like SUWS.

I am the least qualified of the people on our investments committee. Others are people with 40 year careers in the city.

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Benchmark wise, I always think globally. So how are you doing in comparison to a global equity tracker.

It depends on what you are aiming for.

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