Foresight raises over £650 million in retail funds for tax year 2019/20

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  • Record fundraise of over £650 million reflects an increase of 200% on previous year
  • Increasing popularity of infrastructure-based OEICs sees net inflows of £450 million
  • Increasing demand for Environmental, Social and Governance strategies
  • Successful relaunch of Foresight Accelerated ITS with Joint Life Second Death option
  • Foresight’s Assets Under Management exceed £4.5 billion of which retail funds under management exceed £2 billion

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London 27 April 2020: Foresight Group (“Foresight”), a leading independent infrastructure and private equity investment manager, surpassed its previous record for retail funds raised in a single tax year, attracting in excess of £650 million in the tax year 2019/20.

In a period of considerable market volatility, there was continuing strong demand for Foresight Capital Management’s (FCM’s) Open-Ended Investment Companies (OEICs), FP Foresight UK Infrastructure Income Fund (FIIF) and FP Foresight Global Real Infrastructure Fund (GRIF), which saw net inflows of more than £450 million in the period.

Following the successful foray into the OEIC market with the launch of FIIF in December 2017, which saw Foresight being awarded Fund Manager of the Year at the PLC Awards in February 2019, Foresight Capital Management launched its second OEIC, GRIF in June of 2019, and funds under management for FIIF and GRIF had grown rapidly to some £571 million by 31 March 2020. The infrastructure focused OEICS have proved resilient during the volatility experienced by capital markets throughout the period and more recently during the Covid-19 lockdown.

Demand for Foresight VCT plc, one of the UK’s strongest performing VCTs since launch, saw it raise its target of £25 million in just 10 weeks.

In March 2020, Foresight relaunched the Foresight Accelerated Inheritance Tax Solution (Foresight Accelerated ITS), which combines Business Relief with a Group Life Insurance Policy with a new policy option of Joint Life Second Death (JLSD). JLSD has the advantage of reducing the insurance costs for married couples or those living in civil partnerships who automatically benefit from interspousal transfer on the first death, offering to payout on the second death, to give certainty of protection for beneficiaries until the investment should qualify for Business Relief.

Commenting on the record fundraise, Mike Currie, Partner at Foresight said: “Our 35-year track record of investing for a smarter future, supporting small businesses across the UK and specialising in renewable energy infrastructure, is a powerful story that resonates with advisers and their clients. People are looking for products that show resilience to market volatility, predictable revenue streams and smart innovations that meet their needs. We are grateful to all the advisers and their clients for putting their trust in Foresight”

ENDS

For more information contact:

Ben Thompson, Foresight Group: bthompson@foresightgroup.eu / +44 (0)20 3667 8155

Notes to Editors

About Foresight Group (“Foresight”)

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 35 years.

Foresight has in excess of £4.5 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Open-Ended Investment Companies (OEICs), Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs) and Inheritance Tax Solutions using Business Relief (BR).

Foresight was named ‘Fund Manager of the Year’ at the PLC Awards 2018, ‘Generalist VCT of the Year’ at the Investment Week Tax Efficiency Awards 2018/19 and was a finalist in the 2018 Unquote British Private Equity Awards as Venture and Growth Capital House of the Year.  In 2017, Foresight was voted ‘Best VCT Investment Manager’ at the Growth Investor Awards, having been previously awarded ‘VCT House of the Year’ at the 2016 Unquote British Private Equity awards.

Foresight currently manages more than 240 renewable energy generation assets globally, with a total generating capacity of 2.25GW, generating enough clean electricity to power more than three quarters of a million UK homes.

Foresight’s Private Equity team, comprising 28 investment professionals, pursues four discrete but complementary investment styles: venture, impact, growth and replacement capital through its growing regional office network.

Foresight has an office in London with regional UK offices in Cambridge, Manchester, Nottingham, Milton Keynes, Leicester, Edinburgh, Cambridge and Guernsey and international offices in Sydney, Rome, Madrid and Seoul.

www.foresightgroup.eu