Guinness Asset Management Launches Guinness EIS 4 to Invest in UK Sustainable Energy Companies

LONDON, October 9, 2012 /PRNewswire/ –

Guinness Asset Management announces that Guinness EIS 4 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.

Sustainable Energy

Guinness EIS 4 is targeting attractive risk-weighted returns by making investments in Sustainable Energy companies which have predictable revenues, low technology risk and low correlation with other asset classes.

We have identified investment opportunities in renewable energy and energy efficiency companies which have these investment characteristics.  Renewable energy investment opportunities include solar photovoltaic and biomass projects, while energy efficiency projects focus on reducing energy costs in office and commercial buildings.  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.

Strong team

Guinness EIS 4 will be managed by Shane Gallwey, Tom Hill-Norton 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, Andrew Martin Smith and Lord Flight, Chairman of the EIS Association.

Exciting pipeline

Tom Hill-Norton, Fund Manager commented on the wealth of investment opportunities:

«The UK has a number of powerful drivers that make sustainable energy investments particularly attractive right now: high and rising energy costs; attractive government incentives for renewables; and a maturing renewables sector with falling technology costs and increasingly experienced developers, installers and asset managers.

Guinness EIS 4 will continue our strategy of backing small-scale companies as these typically benefit from higher subsidies, lower competition for deals and on-site end users willing to enter long-term offtake agreements – all of which contribute to compelling financial returns.

Our pipeline includes exciting new investment opportunities as well as follow-on investments in existing companies where we already have terms agreed. «

The Enterprise Investment Scheme – the positive way to invest tax efficiently

Shane Gallwey, Fund Manager said:

«EIS is a proven way for investors to invest in small, early stage companies.  These companies are an essential part of the UK Government’s growth strategy for the economy.  EIS helps create jobs and tax revenues by providing capital to growing businesses, even where the banks won’t lend.

The UK Government offers attractive tax benefits that are explicitly defined by HMRC.  On top of that, HMRC provides advance assurance prior to investments being made so that investors can be more confident that they will qualify for the expected tax benefits.  EIS is one of the only ways to invest and gain tax benefits that is explicitly outside the scope of the General Anti Avoidance Rule to be introduced in the Finance Bill 2013. «

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.»

Guinness Asset Management    http://www.guinnessfunds. com/EIS

Background

 

The EIS benefits for investors are well documented, and include:-

• 30% Income Tax Relief (increased from 20% in March 2011
• No Capital Gains Tax
• CGT Deferral Relief
• No Inheritance Tax
• Loss relief

Structure

• Target Fund Size: £10 million
• Minimum Individual Investment: £10,000
• Closing Date: 31 December 2012
• Expected Life of Fund: 4 to 5 years

Guinness Asset Management

Guinness Asset Management 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, the firm currently manages US$800 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 is authorised and regulated by the Financial Services Authority. Guinness Atkinson Asset Management is authorised and regulated by the SEC.

For further information please contact:

Shane Gallwey / Tom Hill-Norton / Edward Guinness, Tel: +44(020-7222-3475, shane.gallwey@guinnessfunds.

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