- 2009
- 2008
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An investment with a following wind
"Even though I'm a "green" cynic, I still buy into the commercial logic of wind power. As a private investor I find it a difficult market to get into. All of the big infrastructure funds and private equity players have been bidding up prices to laughable levels.But there is one interesting exception that I am definitely considering taking a punt on. It's a venture capital fund that's close to being fully invested, with an operating portfolio of assets that's already producing a tax-free stream of income.
It's called Ventus venture capital trust (VCT) 1, managed by Climate Change Capital. I think it's one of the best non-equity-correlated investments on offer.
Ventus looks appealing in my book. It has been designed to throw off an income stream that should produce 8p per share in 2009 or 2010.
There are, of course, risks. Some of the projects could develop technical problems, subsidies might drop, and electricity prices may fall. Ventus 1 might not make that 8p a year distribution until 2011 and 3.5 per cent annual management costs might start to eat into the asset base. These risks could become real but, on balance, I think they're unlikely.
If you're looking to save the earth and put in place a cheap, efficient, long-term green portfolio, I can think of no better fund at the moment - apart from Ventus 1."
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