I’ve bought 15030 shares in FGEN for 10k ahead of the xd date next week.

The current booked profit for the Trust is £1,847.00

HY25 Results Highlights

28 November 2025

FORESIGHT ENVIRONMENTAL INFRASTRUCTURE LIMITED

(“FGEN” or the “Company”)

Half-year results for the six months ended 30 September 2025

FGEN, a leading investor in private environmental infrastructure assets across the UK and mainland Europe, is pleased to announce the Company’s interim results for the six months ended 30 September 2025.

Ed Warner, Chair of FGEN, said:

“FGEN has delivered another period of solid progress despite persistent sector headwinds. Our diversified portfolio continues to generate strong cash flows, providing a dependable foundation for dividend growth and long-term value creation.

“We remain on track to meet our full-year dividend target, supported by proactive portfolio management and disciplined follow-on investments that unlock further value. While the market backdrop has been challenging, our strategy positions FGEN to deliver sustainable income and NAV growth without reliance on new fundraising.

“Looking ahead, we are confident in our portfolio’s combined ability to deliver long-term predictable income for investors alongside attractive upside potential from our growth assets. We remain optimistic about the structural drivers underpinning the green economy.

“We continue to be fully committed, alongside our Investment Manager, to closing the discount to NAV and ensuring that FGEN’s share price more accurately reflects the intrinsic value of its portfolio.”

Summary of results:

Resilient Earnings and NAV :

•   NAV per share of 104.7 pence, delivering positive NAV total return for the period of 2.0% after payment of dividends.

•   Annualised NAV total return of 7.2% since IPO.

•   Company remains on track to deliver the full year dividend target of 7.96 pence, representing a yield of 12% on the share price at the date of this report.

Strong operational performance:

•   Strong operational performance with assets generating dividend cover of 1.22x in the period, after amortisation of project-level debt facilities.

•   Company remains on track to maintain or improve operational performance over the remainder of the financial year.

•   Generation +0.5% over budget¹, with anaerobic digestion facilities continuing to perform particularly well.

Growth assets already delivering NAV uplift:

•   CNG Fuels growing truck numbers and maintaining profitability.

•   Rjukan aquaculture now fully operational, after successfully delivering its first trout harvest in the period.

•   The Glasshouse continues to onboard new customers and targets being cash flow breakeven later this year.

1.  After accounting for the anticipated recovery of downtime from operator guarantees and insurances

Top 10 most-popular funds in October 2025

Fund	IA sector	Change on last month	One-year return (%)	Three-year return (%)
Royal London Short Term Money Market (Accumulating)	Short Term Money Market	No change	4.5	15
Vanguard LifeStrategy 80% Equity	Mixed investment 40%-85% shares	No change	17.3	45
L&G Global Technology Index Trust	Technology	Up one	38.5	160.5
Artemis Global Income I Acc	Global Equity Income	Down one	44.6	93
Vanguard FTSE Global All Cap Index	Global	Up one	19.8	54
HSBC FTSE All-World Index C Acc	Global	Down one	20.4	58.1
Vanguard LifeStrategy 60% Equity	Mixed investment 40%-85% shares	Up one	14.2	35.6
Vanguard LifeStrategy 100% Equity A Acc	Global	Down one	20.5	54.7
Fidelity Index World	Global	No change	20.3	60.3
Jupiter Gold & Silver I GBP Acc	Specialist	New entry	87	172.4

Source: interactive investor. Performance data to 3 November 2025. Note: the top 10 is based on the number of “buys” during the month of October. Past performance is not a guide to future performance.

Top 10 most-popular trusts in October 2025

Ranking	Investment trust	Change from September	One-year return to 31 October (%)	Three-year return to 31 October (%)
1	Scottish Mortgage Ord (LSE:SMT)	Unchanged	35.7	63.2
2	Polar Capital Technology Ord (LSE:PCT)	Up 2	53.4	151.6
3	Greencoat UK Wind (LSE:UKW)	Down 1	-13.2	-9.8
4	City of London Ord (LSE:CTY)	Down 1	26.9	49.4
5	Temple Bar Ord (LSE:TMPL)	Unchanged	46.5	96.3
6	Golden Prospect Precious Metal Ord (LSE:GPM)	New	96.1	187.7
7	Henderson Far East Income Ord (LSE:HFEL)	New	20	38.4
8	Fidelity China Special Situations Ord (LSE:FCSS)	Down 2	55	96
9	NextEnergy Solar Ord (LSE:NESF)	New	-7.5	-24.4
10	JPMorgan Global Growth & Income Ord (LSE:JGGI)	Down 3	6.9	54.8

Source: FE Analytics. Performance data to 31 October 2025. Note: the top 10 is based on the number of “buys” during the month of October. Past performance is not a guide to future performance.

2025 dividends to date £10,879.00

Cash for re-investment £11,023, 10k to be re-invested in a Trust with a near xd date and 1k into FSFL

The Snowball booked a profit of £907.80 with TRIG.

The Snowball only owned the share for one week, sometimes it’s better to be lucky than clever. The intention is to use ‘part’ of the windfall to do some dividend washing, where you buy a share before the xd date and sell either on the day or later, to provide contingency income for 2026, just in case any dividends are cut.

So the Snowball has sold LAND, earning a dividend of £307.00 paid in January, for a loss of £13.00. If you get the timing right, sometimes it can also print a tiny profit.

There are dividends to be received tomorrow of £641.00, 1k to be re-invested in FSFL, maybe.

Among those set to exit the FTSE 250 is Pinewood Technologies Group PLC, rounding off a short stint in the mid-cap index. The provider of software to the automotive retailing sector replaced Warehouse REIT in the index after the logistics warehouses investor was acquired by Blackstone Inc.

Among those set to exit the FTSE 250 is Pinewood Technologies Group PLC, rounding off a short stint in the mid-cap index. The provider of software to the automotive retailing sector replaced Warehouse REIT in the index after the logistics warehouses investor was acquired by Blackstone Inc.

Foresight Solar Fund Ltd, an investor in environmental infrastructure, is also set for relegation.

Real Estate Credit Investments Limited (the “Company”)

Ordinary Dividend for RECI LN (Ordinary shares)

Real Estate Credit Investments Limited announces today that it has declared a second dividend of 3.0 pence per Ordinary Share for the year ending 31 March 2026. The dividend is to be paid on 02 January 2026 to Ordinary Shareholders on the register at the close of business on 05 December 2025. The ex-dividend date is 04 December 2025.

My 2 favourite growth stocks just plunged 25% in a month – time to consider buying more?

Harvey Jones made a big bet on these 2 FTSE 100 growth stocks, but the last month has been brutal. So does he sell, hold or steel himself to buy more?

Posted by Harvey Jones

Published 26 November

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.

My top two growth stocks have just taken a beating, and I won’t deny it hurts. Both plunged 25% in the last month and are the biggest fallers on the FTSE 100 over that short period. So what do I do?

The first is the private equity and infrastructure specialist 3i Group (LSE: III). Until recently, it was one of my standout investments, more than doubling my money in the two-and-a-bit years after I added it to my SIPP.

Should you buy 3i Group plc shares today?

3i Group shares slump

Since 1945, 3i has built a strong track record of buying underperforming companies, scrubbing them up and selling at a profit. It worked wonders for decades. The shares are still up 200% over five years, but now they’re down 11% over 12 months. Personally, I’m still up 48%, but that’s less than it was.

I was starting to feel uneasy about 3i. Much of the excitement came from one stunningly successful holding, European retailer Action. It’s opened thousands of stores across the continent and has a new growth market in Switzerland, but now accounts for almost three-quarters of 3i’s total assets. That is a lot of concentration risk.

On 13 October the group warned sales growth at Action may fall short of forecasts due to a slowdown in France. The rest of the business is trading well but that was all it took to spark a heavy sell-off.

I have no plans to sell 3i Group. I buy shares with a long-term view and over that time frame, it remains attractive. In fact, I topped up my position last week, and two senior directors did the same, investing far bigger sums than me. I’m now heavily exposed by my modest standards, so I’ll stop here. Action’s monster growth has to slow at some point and the group needs to find new opportunities. Yet I still think it’s worth considering for long-sighted investors.

JD Sports has tripped up

My second falling favourite was struggling rather than thriving when I bought it in January 2024. JD Sports Fashion (LSE: JD.) looked absurdly cheap with a price-to-earnings ratio of around 7.5, and I expected to benefit from a robut share price recovery once trading improved.

The rebound hasn’t come yet. Consumers are still under severe strain across the UK, Europe and the US. On 20 November the board issued another profit warning, blaming rising unemployment and softer spending. Should I take advantage and buy more?

I’ve already averaged down on three occasions since my original purchase, but now I’m wary. JD Sports’ core market is younger people, which spells trouble as youth unemployment climbs. Rapid advances in artificial intelligence may hurt their long-term job prospects and squeeze their spending power harder.

The JD Sports share price is even cheaper now. The P/E stands at 5.95 but a strong Christmas sales period could lift the mood. Contrarian investors may still consider the stock but I’ve decided to hold my position and look elsewhere for recovery plays.

Both growth stocks face different challenges but remain central to my long-term plan. I believe the 3i dip is a great long-term buying opportunity for a share that had outrun itself, which is why I dived in. JD Sports should recover one day but for now I’m sticking rather than twisting.

3i : very dangerous to buy Trusts that trade at a big premium.

Nov. 25, 2025 8:57 AM

Lawrence Fuller

Investing Group Leader

Summary

• Stocks surged broadly, led by tech, as nine of eleven S&P 500 sectors rose and the Nasdaq posted its best day since May.
• Bitcoin’s rally signaled speculative excess has been reduced, setting the stage for a potential year-end stock market rally.
• Fed officials’ dovish comments increased expectations for a December rate cut, now seen as 85% likely, supporting further market gains.
• Despite labor market concerns, strong consumer spending and falling inflation expectations point to a soft economic landing and renewed growth in 2026.

Investors returned in force yesterday to buy stocks, led by the beaten up technology sector, but it wasn’t just tech, as nine out of 11 sectors that constitute the S&P 500 index rose. The Nasdaq Composite had its best day since May. It is no coincidence that Bitcoin rallied off its recent low of approximately $80,000 to surpass $88,000, prior to the burst in stock prices, along with the rest of the cryptocurrency space. That tells me that we have wrung out a lot of the speculative excess in this market, which sets the stage for the year-end rally.

The selling in crypto land exacerbated the selling in magnificent ones, which collectively soared 3.2% yesterday, led by Alphabet. I am less sanguine about a near-term recovery in these seven names to new all-time highs as I am expecting a broadening of the participation we have seen since the April lows. I think this will be instigated by productivity increases for the 493 companies in the S&P 500, which are just starting to realize the benefits from AI. That should override valuation concerns for the broad market, as higher profit margins support higher valuations for the names left behind in this bull market. This will be the story of 2026 that leads to the next leg up.

Friday’s rally was instigated by comments from New York Fed President John Williams who sees a rate cut in December as more likely than not. We had further confirmation that another rate cut is coming yesterday from San Francisco Fed President Mary Daly, who indicated that labor market weakness is a higher priority than the rate of inflation right now. Then Boston Fed Governor Christopher Wall repeated that he would like to see the rate lowered at the December 10 meeting. The probability for a rate cut has now risen to 85%.

There are increasing concerns about the weak labor market, which is understandable. This is a risk that should not be ignored. But most investors don’t recognize that the number of jobs created does not go into the calculation for the rate of economic growth, nor is it the primary driving force behind consumer spending, which is the most important input to growth. We will finally have the retail sales number for September this morning, and I suspect it will show that consumers are still spending at a healthy clip, which makes me less concerned about the labor market. Spending is the primary driver of job creation.

Furthermore, inflation expectations in the marketplace have collapsed from the tariff-tantrum days, which is probably why a growing number of Fed officials are more focused on stimulating growth in 2026 with lower short-term interest rates. This is what a soft landing looks like, which most investors have never seen before unless they were involved in the markets in the mid-1990s. This landing has not been smooth, as the economy bounced off the runway earlier this year in April when the Consumer Price Index (CPI) touched 2.3%. I expect we will take another shot at that landing next year, but this time it will be a successful one.

Backdoor AI Beneficiary Yields 8.8%, Trades at 13% Discount

Brett Owens, Chief Investment Strategist
Updated: November 26, 2025

Drug development will never be the same! AI is compressing time-to-market and extending the sales calendar for pharma. More profits from new medications. More new medications, too.

Many pharma and biotech stocks will boom as we enter the “sci-fi” stage of research and development. And this elite 8.8% dividend will directly benefit.

It typically takes 10 to 15 years to develop a new drug. Every month matters because patents last only 20 years. The faster a company gets a drug to market, the more months and years it enjoys with monopoly pricing power.

When patents expire, the generic versions hit the market. And the profit party is over for the original blockbuster.

AI is changing all of this in favor of pharma profits.

Drug discovery cycles are already compressing. From 10 to 15 years, they will soon approach six years or less. Industry experts, in fact, are saying three to six years will be the new normal. Whoa! That shift hands pharma a decade or more monopoly pricing!

No, AI isn’t replacing scientists—it’s multiplying them. These tech models run overnight, on weekends, forever. They eliminate dead ends and push more viable drug candidates into trials.

In the years ahead, pharma will have more shots on goal. Which will result in more drug candidates and approved medications. And by getting these drugs to market faster, these companies will have more time to monetize the winners.

Cash flow is about to compound. So, let’s dial in this 8.8% divvie while we still can.

BlackRock Health Sciences Term Trust (BMEZ) is a closed-end fund (CEF) that owns the companies benefitting directly from pharma’s new sci-fi age. Faster drug development cycles will buoy their bottom lines. Bigger profits will boost stock prices and BMEZ’s net asset value (NAV).

Then, a higher NAV will reward investors with price gains! It will also support BMEZ’s 8.8% payout. And likely reduce or eliminate the CEF’s current 13% discount to NAV.

About that discount. A fun feature of CEFs, unlike ETFs, is that they often trade at discounts to NAV. They have a limited pool of shares, so increased demand for the stock boosts the price. ETFs trade at par—no discount or premium—to NAV. They issue more shares when their funds are in high demand and take shares away when their funds are out of favor.

CEFs “let it ride” with a fixed share count. Which means discounts (and premiums) happen with market emotion. Often. Good for us—buy low and sell high!

As we speak, BMEZ trades at a 13% markdown to its NAV. So, we’re literally paying 87 cents for $1 of assets. A fantastic deal considering the sector’s fundamentals are this strong.

BMEZ’s top holding Alnylam (ALNY) is a pioneer in “RNA interference”—a cutting-edge class of medicine that essentially turns off disease-causing genes. Alnylam’s therapeutics are being explored for treating genetic, heart and neurological diseases.

With AI, these explorations will run faster and better than ever before.

Bad genes? Alnylam fixes them. This company is going to have an R&D “field day” as it deploys AI into its laboratories.

Alnylam’s research also benefits from less regulation. The stock soared under Trump 1.0, racking up 300%+ gains. And the sequel is shaping up to be even bigger with ALNY already up 90% in Trump 2.0.

With holdings like ALNY, why does BMEZ fetch such a large discount? Earlier this year, drug developers were the market’s unwanted stepchild. Wall Street assumed Trump 2.0 would hammer drug prices even harder than Biden’s Inflation Reduction Act (IRA) already did.

Remember, Trump 1.0 kicked off the insulin caps. Biden’s IRA bill followed with price limits on ten blockbusters starting in 2026—a potential $160 billion profit hit to Big Pharma. Then Trump returned and chased Most-Favored-Nation (MFN) pricing, aiming to tie US drug prices to the lowest in the world.

Bad for pharma profit margins, to say the least! Investors dumped healthcare shares across the board in a final selling effort. After five years of underperformance, these stocks were wiped out.

But on cue, pharma did what pharma always does—it lobbied! MFN pricing stalled. The lobbyists slowed the political avalanche.

Meanwhile, the White House struck a headline-friendly deal with Pfizer. Then AstraZeneca. And three more big pharma firms. It looked like pharma was getting squeezed, but the fine print gave drugmakers exactly what they wanted: longer patents, faster reviews and cleaner reimbursement rules.

It’s a public relations win for the Administration. But most notably, it’s a quiet victory for the drugmakers. Firms are already benefiting from softer regulatory gloves and faster review cycles—the fastest ways to cash for any pharma firm.

More drugmakers will cut deals with Washington. More drugs will come to market thanks to AI. More companies will profit from their patent window as drug development times compress.

But BMEZ is still priced as if the 2024-25 pharma washout is ongoing, even though regulatory clouds are parting and AI is supercharging R&D! Let’s take the dividend deal while we can.