Home

TM Gravis Clean Energy Income

The Fund

The TM Gravis Clean Energy Income Fund invests in a portfolio of securities listed in developed markets, involved in the operation, funding, construction, generation and supply of clean energy.

The Fund is a UK UCITS V open-ended investment company (OEIC).

Fund Summary

Fund Name
TM Gravis Clean Energy Income Fund
Fund Manager
William Argent
Investment Manager
Gravis Advisory Limited
Launch Date
18 December 2017
Domicile
UK
Structure
UCITS V Open Ended Investment Company
Fund Size 30 Sept 2025
£192.25m
Regulatory Status
FCA Regulated
IA sector
IA Infrastructure
Share Classes
Inc & Acc
Currencies
GBP, EUR, USD

Clean share class

Price Acc (30 Sept 2025)
141.00p
Price Inc (30 Sept 2025)
100.27p
Minimum Investment
£100
AMC (capped)
0.80%
OCF (capped)
0.80%
ISIN Acc
GB00BFN4H792
ISIN Inc
GB00BFN4H461
SEDOL Acc
BFN4H79
SEDOL Inc
BFN4H46
Dividends paid
Jan, Apr, Jul, Oct
12 month dividend (30 June 2025), (Inc)
6.23p
Yield (30 Sept 2025), (Inc)
6.24%

Institutional share classes

Price Acc (30 Sept 2025)
134.79p
Price Inc (30 Sept 2025)
88.23p
Minimum investment
£10,000,000
AMC (capped)
0.70%
OCF (capped)
0.70%
ISIN Acc
GB00BFN4HF75
ISIN Inc
GB00BFN4HB38
SEDOL Acc
BFN4HF7
SEDOL Inc
BFN4HB3
Dividends paid
Jan, Apr, Jul, Oct
12 month dividend (30 June 2025), (Inc)
5.50p
Yield (30 Sept 2025), (Inc)
6.23%

Monthly commentary

The Fund recorded a modest loss of 1.67% in September (C Accumulation GBP). The portfolio rallied strongly in the later stages of the month, recovering from a more significant decline that was evident midway through the period. Looking year to date, the Fund has delivered 6.35% (C Accumulation GBP).

Underlying portfolio companies were broadly evenly split between positive and negative contributors. However, poor performance from a handful of UK-listed renewable energy generators including Octopus Renewables Infrastructure, Foresight Environmental Assets, NextEnergy Solar and Aquila European Renewables shifted the overall balance of returns at Fund level. The performance of this cohort was largely a continuation in trend from August.

In the U.S., a favourable ruling on Revolution Wind, an offshore project backed by Orsted that was subject to a stop-work order issued by the Trump Administration in August, despite being 80% complete, provided the impetus for a rally in clean energy developers operating in the region. A ruling that construction could resume at the project buoyed companies such as EDP Renovaveis, which has exposure to the U.S. offshore wind market potential via its Ocean Winds joint venture with Engie. Separately, U.S. Treasury yields softened at the mid-to-long end of the curve, providing a boost to capital providers in the sector like HA Sustainable Infrastructure and to clean energy infrastructure giants that aim to be highly acquisitive in the sector, like Brookfield Renewables.

During the month, positions in Northland Power, Meridian Energy, Brookfield Renewables, Acciona Energias Renovables, and EDP Renovaveis were reduced following strong relative performance. A new position was established in Redeia, which via its subsidiary “Red Electrica”, operates Spain’s electricity transmission network infrastructure. Redeia is sensitive to electricity demand/usage rather than price, which provides useful diversification in the context of the Fund’s primary exposure to electricity generation and sale. Redeia adds to the existing position in Italy’s Terna Rete Elettrica and increases the portfolio’s underling exposure towards regulated electricity grid infrastructure.

Third quarter distribution announced

Income distributions for the third quarter of 2025, payable in October 2025, amounted to 1.4478p per C Income GBP unit and 1.2738p per I Income GBP unit. As at 30th September, the Fund’s trailing 12-month yield was 6.24% for the C Income GBP units and 6.23% for the I Income GBP units.

Read the factsheet here

Fund ratings

Investment Strategy

The Fund invests in a diversified portfolio of securities listed in developed markets, involved in the operation, funding, construction, generation and supply of clean energy.

Investment manager

The investment manager to the Fund is Gravis Advisory Limited. The Gravis team can call on a wealth of experience and expertise in infrastructure investing across a broad range of sectors.

William Argent is the fund manager.

The team

Administrator and service providers

Investment Manager

Gravis Advisory Limited
24 Savile Row
London
W1S 2ES

Auditors

Johnstone Carmichael LLP
7-11 Melville Street
Edinburgh
EH3 7PE

AFM

Thesis Unit Trust Management Limited
Exchange Building
St Johns Street
Chichester
West Sussex
PO19 1UP

Administrator and Registrar

Northern Trust Global Services SE, UK branch
50 Bank Street
London
E14 5NT

Depositary

Northern Trust Investor Services Limited
50 Bank Street
London
E14 5NT

Custodian

The Northern Trust Company
50 Bank Street
London
United Kingdom
E14 5NT

Distributor

Gravis Advisory Limited
24 Savile Row
London
W1S 2ES

Contact us

Newsletter

Subscribe to Gravis fund updates

Select the funds you’d like to stay up to date with.

Loading...

Due to regulatory requirements, we are only able to share updates with professional investors in those jursidictions dictated in the terms and conditions for each fund. If you enter a personal email address into the form, it is likely that you will not recieve updates, so please, where possible, provide your work email. If you only have a personal email address but qualify as a Self-Certified Sophisticated Investor, or High Net Worth Investor, please get in touch with us directly, by emailing contact.us@graviscapital.com.

We only send emails when we have something to say. We'll never share your information. By submitting, you agree to Hubspot's Privacy Policy and Terms. You can unsubscribe at any time.