US Solar Fund in negotiations with potential new manager after failed sale attempt

NAV revised down due to various factors

Valeria Martinez
clock • 2 min read

The US Solar Fund (USF) is in negotiations to replace its current investment manager in the latest move to reassure shareholders after failing to find a suitable buyer for the trust.

In a stock exchange notice today (7 August), the board said it had granted a potential new investment manager a period of exclusivity to negotiate a new investment management agreement. The move follows the announcement on 10 July that USF's existing investment management agreement with New Energy Solar Manager (NESM) would not be extended beyond the expiry of the initial five-year term in April 2024. During the period of exclusivity, the potential new manager and the board will work to obtain the necessary regulatory and shareholder approvals required for the potential new manager to...

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