Clean power attractive

The Merrill Lynch New Energy Technology investment trust (MLNET) is in the process of finalising the purchase of its first unquoted investment. The £164.9m trust, launched in October, has the ability to invest up to 25% of its portfolio into unquoteds. Fund manager Robin Batchelor, however, believes a realistic end of year target is closer to around 10%. He said: "There is no imperative to invest to capacity straight away, the allowance is simply a means to add flexibility to our decision making." The trust was trading on a premium of 12.6% on 31 January. Batchelor thinks a number of ...