‘No moral or ethical foundation’: Solar fund wipeout raises investor hackles (smh.com.au)

For some mysterious reason this reference is not working

If you go to the SMH and search for NEW Energy you will find how the RE works and to expect when you are IN THEIR clutches IN PERPETUITY,

Here is a snippet...

‘No moral or ethical foundation’: Solar fund wipeout raises investor hackles

BySarah Danckert

September 23, 2022 — 12.01am

Save

Share

Normal text sizeLarger text sizeVery large text size

Investors are calling on the manager of ASX-listed solar energy investment group New Energy Solar to waive a $10 million fee from the group, which is now in wind-up mode after failing to deliver on investment expectations.

But the fund’s manager – E&P Financial Group, chaired by former Essendon president David Evans and formerly known as Evans Dixon – is planning to accept the fee despite the plea from investors and New Energy’s board, according to sources who declined to be named for confidentiality reasons.

Solar should be a booming business but Australia’s only pure-play listed group is in wind up mode.CREDIT:BLOOMBERG

Disquiet over the management of New Energy Solar has been growing for some time, with some investors alleging E&P has used the group like a “cash cow”. They also allege that $73 million in fees have been taken out of New Energy, once valued at $300 million, over the course of its seven-year existence.