ORIT clarifies NAV position following energy policy review

Increase of 2p per ordinary share

The board and investment manager of the £610.6m Octopus Renewables Infrastructure trust has outlined why the trust's Net Asset Value for the end of September should be considerably higher, following a review of energy policies in the country where the trust holds assets.

In a stock exchange announcement published today (15 December), the board said the NAV for 30 September was "calculated using considerable discounts to market pricing" which "reflected the uncertainty over Government policy in the UK and Europe". The NAV was set at 108.3 pence per ordinary share. However, in light of recent government announcements, which have reduced the uncertainty, the NAV should have been calculated as 2 pence per ordinary share higher at 110.3p. JP Morgan cuts management fee on UK trust The new NAV is based on announcements from the UK, Poland and Sweden. In t...