Gravis

In extremely welcome news this morning, the government and FCA announced that they are finally addressing the issue of double counting of Investment Company costs. Commenting on today’s announcement by both HM Treasury and the FCA, Gravis’s William MacLeod commented:   “What's happened today is a lot less dramatic than the big bang in the 80s, but for those of us in the sector and all Investment Company investors, it is no less seismic.   “HMT and the FCA have, between them, proposed to change the reporting requirements for Investment Companies. They have applied forbearance with immediate effect and will be consulting on the new Consumer Composite Investments regime (CCI) later this year.   “Even though the forbearance is to take place with immediate effect, I suspect it will be November before this washes through. The database for costs, the EMT, is updated monthly, so to it may take a few weeks to be cleansed.   “Thereafter, we should all be focused on proposals for the new CCI regime. At the beginning of the year, roughly 330 industry participants called for the exclusion of ICs from the CCI, the replacement to PRIIPs. In doing so, we drafted an alternative method of sharing company expenses (much like any other company) but distinct from KIDs and cost disclosure.   “There will be consultation on this issue in coming months which we will all need to study carefully. The new CCI regime will, we hope, cement these temporary changes in law in 2025, so it’s imperative we get it right.   “It is momentous breakthrough that is long overdue. The campaign group – helped immensely by the support and dedication of Baronesses Bowles and Altman - has worked tirelessly for these changes for a number of years now and today is a day of both relief and celebration.   “Righting this wrong is profound for the UK market, the sector, and investors of all sizes.” You can read more about this here: https://lnkd.in/ee9zXsEJ Or more here: https://lnkd.in/d7WS_v72 #CostDisclosure #DoubleCounting

What wonderful news today from HM Treasury and the FCA applying immediate forbearance for the removal of so called 'costs' for Investment Companies (IC). I feel like the Ribena berry shouting 'Yipee'! Firstly, enormous thanks are due to Baroness Sharon Bowles and Baroness Ros Altmann and I suspect to Lord Livermore for their tireless work on this issue. Even though this action is to take place with immediate effect, it probably take until November before this washes through. The database for costs, the EMT, is updated monthly, so it may take a few weeks to be cleansed. Thereafter, we should all be focused on proposals for the new Consumer Composite Investments regime. At the beginning of the year, roughly 330 industry participants called for the exclusion of ICs from the CCI, the replacement to PRIIPs. In doing so, we drafted an alternative method of sharing company expenses (much like any other company) but distinct from KIDs, KIIDs and cost disclosure. We very much hope that the emphasis of what we are proposing, namely transparency, simplicity and understand-ability are maintained. There will be consultation on this issue in coming months which we will all need to study carefully.

Gill Wadsworth talks to Philip Kent, CEO Gravis Capital about the firm's growth, firmly linked to the green transition. Read more here: https://lnkd.in/dhUYXb8j

☕️🍰 + 🛋️🦞 = A truly Gravis afternoon! Yesterday, we treated a few journalists to an afternoon tea they won’t soon forget (cue scones, finger sandwiches, and bottomless tea - along with some leftovers for the family). But it didn’t stop there… We then pivoted from posh to playful, whisking them away to the Friends Experience in London! From “pivoting” sofas to recreating that famous coffee house vibe, we definitely made it a day to remember. At Gravis, we know the best networking happens with a touch of nostalgia... and a whole lot of tea! Sam Slator | Daniela Santos | Jenna Brown | Amaya Urgoiti Basurto | Amelia Weitzman | #FriendsExperience #HowYouDoin

******* IMPORTANT NEWS ****** A great day - please see below release from the Government, and the link within it to the FCA release. The measures are temporary, but I would be surprised if they are rowed back on! This is recognition that investment trusts deserve bespoke treatment in our legislative and regulatory framework, and the specific mention of Article 50(2)(b) and Article 51 of the MiFID Org Regulation clearly shows HMT and the FCA have heard our arguments. This is recognition that investment trusts do not have costs that are deducted from the share price. No victory laps quite yet - we need to be absolutely certain of the right treatment and support Baroness Sharon Bowles with her PMB. A longer post thanking the right people will follow at the appropriate time. Today is a great day for the investment trust sector!!!

This summer I spent 6 weeks as an intern with Gravis, an alternative asset management company, that manages funds investing primarily in infrastructure.   Over this time, I completed Gravis’ internal financial modelling course, including introduction to project finance and valuation using a discounted cash flow. This built upon the financial modelling course I completed earlier this year. In my last week, I presented research to the investment team covering an emerging asset class, which was a valuable experience that has helped me improve both my confidence and presentation skills. I had the opportunity to assist with other papers and policies for two different funds.   I also visited Birmingham Bio Power Ltd (BBPL), a 10.3MW waste wood gasification plant. This was a new experience and added to my internship experience as I could see the physical asset within GCP Infrastructure Investments Ltd.   Another aspect that I valued was the volunteer day at Surrey Docks Farm where we gave back to the community and learnt more about sustainable practices that align with Gravis’ values.   I would like to thank everybody at Gravis who took the time to talk with me and offered guidance on tasks. Thank you to Bianca McMillan (née Marwaha) who was an excellent mentor for the duration of my time at Gravis and ensured that I made the most of my internship and took the time to answer all my questions.   Finally, I would like to thank the Young Women Into Finance programme, Catherine Goodhind and Dan McCarthy for all their hard work and support for the young women on the programme and allowing us to access these great internships.

🔊 Welcome to the fourth issue of Gravis's LinkedIn newsletter: A word in your shell-like. Subscribe to receive our latest views and news monthly. 💡 In this issue: 1️⃣ Three reasons to go active for next generation property 2️⃣ Private credit: The pros and cons of different investment structures 3️⃣ Three ways to invest in electric vehicles 4️⃣ Baroness Sharon Bowles discusses the Listed Investment Companies (Classification etc) Bill 5️⃣ UK REITs poised for significant re-rating 6️⃣ A new dawn for UK infrastructure: capitalising on opportunity amid a new political landscape Professional investors only. Capital at risk. The content of this newsletter should not be taken as investment advice.

We're excited to announce that this year, Gravis is proud to support The Guide Dogs for the Blind Association as one of our Charities of the Year. For over 90 years, Guide Dogs has been transforming lives with their incredible range of services, with and without dogs, to support people living with vision impairment. From children to adults to friends and family, their expert staff, dedicated volunteers, and life-changing dogs help individuals live actively, independently, and well. As the world's largest assistance dog organisation, Guide Dogs leads the way in puppy socialisation and dog training, being the only UK organisation to breed and train guide dogs. At Gravis, we're thrilled to play our part by naming and raising a puppy this year! Our puppy is set to be born very soon, and we can't wait to share more updates. You can read more about this incredible charity here: https://lnkd.in/ehgaMQXb #Charity #GuideDogs #Community

We are thrilled to announce that Daniela Santos, Marketing Executive at Gravis, has been shortlisted for The Financial Services Forum's 'Young Marketer of the Year' award! This award recognises rising stars in the financial services industry, and Daniela is a shining example of talent, dedication, and innovation. Since joining Gravis, she has made incredible strides, expanding her skillset by recording, producing, and editing our branded video content across all strategies. Her creativity and drive to learn new, vital skills have been key to enhancing our digital presence. We wish her the best of luck! #YoungMarketeroftheYear #Innovation

At the heart of the Women in Green Business Awards, we celebrate individuals who are not only advocates for sustainability but also champions of diversity and inclusion. These extraordinary finalists for Diversity and Inclusion Champion of the Year have been instrumental in driving real progress for women, ethnic minorities, and other marginalised groups across the green economy. Amy Carter, DAF Trucks UK Bianca McMillan (née Marwaha), Gravis Charmaine Coutinho, LCP Delta Clara Navarro Veiga, DS Smith Dorothy O., giffgaff Juliette Sanders a.k.a. Killah Jules, Energy UK Mitakshi Sirsi, Broadway Malyan Rhian Sherrington FRSA, Founder / Head Coach, Women in Sustainability Network Sara Warwick, Sizewell C Shivali Mathur, Amberside Advisors, part of Steer Group Visit the Women in Green Business Awards website to see the entire shortlist and reserve your table 👉https://incm.pub/4en4Fpk #WGBA