JLEN Environmental Assets Group Ltd Appointment of Foresight Group LLP as AIFM (9981X)
11 Januar 2022 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 9981X
JLEN Environmental Assets Group Ltd
11 January 2022
11 January 2022
JLEN Environmental Assets Group Limited
(the "Company")
Appointment of Foresight Group LLP as AIFM
The Company announces that it has today appointed its investment
adviser, Foresight Group LLP ("Foresight Group"), as its external
alternative investment fund manager ("AIFM") with discretionary
investment management authority for the Company. Foresight Group
has been appointed pursuant to an investment management and AIFM
agreement (the "Investment Management Agreement") in substitution
for, and on materially the same commercial terms as, the existing
investment advisory agreement between the Company and Foresight
Group which has now been terminated.
Until now, the Company has been a self-managed alternative
investment fund which took its own investment management decisions
on the basis of advice from Foresight Group. As discretionary
investment manager, Foresight Group LLP will take investment
management decisions on behalf of the Company, subject to the terms
of the Investment Management Agreement. The fees payable by the
Company to Foresight Group under the new Investment Management
Agreement remain unchanged.
As AIFM, Foresight Group will remain subject to the Company's
published investment policy and the supervision of the Company's
board of directors (the "Board"). The Board also retains overall
responsibility for the Company's activities, including reviewing
its investment activity, performance, business conduct and policy.
In addition, in accordance with the terms of the Investment
Management Agreement, certain investment decisions are reserved to
the Board, including in respect of very large investments, those
which would involve taking the Company near to the limits of its
available borrowing facilities, those involving the Company
investing in new geographies or technologies and those which may
cause reputational risk to the Company.
In connection with Foresight Group's appointment as AIFM, the
Company has appointed NatWest Trustee and Depositary Services
Limited ("NatWest") as its depositary. NatWest will perform the
functions required of a depositary of an alternative investment
fund that is incorporated outside the European Economic Area, such
as the Company, which has an EEA entity, such as Foresight, as its
AIFM.
The Company will continue to retain an administrator and a
registrar in Guernsey.
For further information, please contact:
Foresight Group
Chris Tann er
Chris Holmes +44(0)20 3667 8100
Winterflood Investment Trusts
Neil Langford
Chris Mills +44(0)20 3100 0000
SEC Newgate
Elisabeth Cowell
Megan Kovach +44(0)20 3757 6880
Sanne Fund Services (Guernsey) Limited
Matt Falla
Gemma Woods +44(0)1481 755530
About JLEN
JLEN's investment policy is to invest in a diversified portfolio
of Environmental Infrastructure. Environmental Infrastructure is
defined by the Company as infrastructure assets, projects and
asset-backed businesses that utilise natural or waste resources or
support more environmentally friendly approaches to economic
activity, support the transition to a low carbon economy or which
mitigate the effects of climate change. Such investments will
typically feature one or more of the following characteristics:
-- long-term, predictable cash flows, which may be wholly or partially inflation-linked;
-- long-term contracts or stable and well-proven regulatory and legal frameworks; or
-- well-established technologies, and demonstrable operational performance.
JLEN's aim is to provide investors with a sustainable,
progressive dividend per share, paid quarterly and to preserve the
capital value of the portfolio over the long term on a real basis.
The target dividend for the year to 31 March 2022 is 6.80 (1) pence
per share. The dividend is payable quarterly.
Further details of the Company can be found on its website
www.jlen.com .
LEI: 213800JWJN54TFBMBI68
(1) These are targets only and not profit forecasts. There can
be no assurance that these targets will be met or that the Company
will make any distributions at all.
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END
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