The Finite Solar Finance Fund
Last Updated 04/05/2024
This fund recently launched or we are in the process of collecting the data
Shows hypothetical growth of $1000 since inception
$9.98
Nav Per Share
0%
Current Yield
0.00%
Total Return
11/23/2021
Inception
$3,662,777
Total Managed Assets*
SOLRX
Ticker
$500
Minimum Investment
2.23%
Net Expense Ratio
*represents total managed funds for the fund complex
About The Fund
Finite Management, LLC, the adviser operated by Finite Corporation, Inc., registered the Finite Solar Finance Fund (the "Fund") on 2/9/2021. The Fund subsequently opened to investors on 12/31/2021 with the ticker SOLRX.
The Fund aims to generate total return with a focus on current income, by investing primarily in private loans used to finance the development, purchase, and installation of solar power systems in the United States.
SOLRX represents the first-ever interval fund with an explicit focus on creating a positive climate impact, and also provides retail investors access to private credit investments – traditionally only accessible by the ultra-wealthy and institutional investors. With a $500 minimum initial investment, it also offers the second-lowest upfront minimum of any interval fund.
Finite Management, LLC, based out of Santa Monica, CA, is a newly-formed adviser and SOLRX is their first fund. The portfolio managers have deep experience in both solar loan origination and asset management,.
From the Fund's prospectus:
The Fund: The Finite Solar Finance Fund (the “Fund”) is a newly organized Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company. The Fund is continuously offering common Shares of beneficial interest (the “Shares”) and operates as an “interval fund.”
Investment Objective: The Fund’s investment objective is to provide total return with an emphasis on current income. There can be no assurance that the Fund will achieve its investment objective.
Principal Investment Strategies: The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its Managed Assets, directly or indirectly, in alternative-lending related securities and other investments issued primarily for solar financing, including credit instruments related to the development, purchase or installation of solar energy equipment or the purchase and lease of renewably generated electricity and securities of solar finance companies, specialty finance companies and other solar industry participants (“Solar Finance Assets”).
The Fund will primarily be invested in Solar Finance Assets that are expected to generate interest or other streams of payments from consumers and commercial entities that have elected to finance the development, purchase or installation of Solar Energy Systems (defined below) or that have committed to purchase solar-generated electricity, and from securities of Solar Loan Originators (defined below) and of certain other U.S. solar participants. The Fund’s assets will be allocated among Solar Finance Assets that the Adviser believes offer the potential for regular current yield. The Fund may also be invested in equity securities and convertible bonds of Solar Loan Originators or other solar participants that offer the potential for capital appreciation.
Adviser: Finite Management, LLC
Administrator: U.S. Bank Global Fund Services
Legal Counsel: Blank Rome LLP
Partner: Stacy H. Louizos
Public Accounting Firm: KPMG LLP
Distributor: Foreside Fund Services, LLP
Custodian: U.S. Bank, N.A.
Transfer Agent: U.S. Bank Global Fund Services
Fund Materials
Fund Class Docs
HISTORICAL DATA
Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day.