Bluefield Solar Income Fund
Bluefield Solar Income Fund Ltd. is a close ended balanced mutual fund launched by Numis Securities Limited. The fund is managed by Bluefield Partners LLP. It invests the United Kingdom. The fund primarily invests in large-scale, long-life solar photovoltaic energy infrastructure assets with a focus on utility-scale assets and portfolios on greenfield, industrial and commercial sites through equi… Read more
Bluefield Solar Income Fund (BSIF) - Net Assets
Latest net assets as of December 2025: GBX638.28 Million GBX
Based on the latest financial reports, Bluefield Solar Income Fund (BSIF) has net assets worth GBX638.28 Million GBX as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX639.13 Million) and total liabilities (GBX853.00K). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX638.28 Million |
| % of Total Assets | 99.87% |
| Annual Growth Rate | 15.05% |
| 5-Year Change | 46.39% |
| 10-Year Change | 124.24% |
| Growth Volatility | 34.64 |
Bluefield Solar Income Fund - Net Assets Trend (2014–2025)
This chart illustrates how Bluefield Solar Income Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Bluefield Solar Income Fund (2014–2025)
The table below shows the annual net assets of Bluefield Solar Income Fund from 2014 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-06-30 | GBX690.11 Million | -11.70% |
| 2024-06-30 | GBX781.56 Million | -8.50% |
| 2023-06-30 | GBX854.19 Million | -0.49% |
| 2022-06-30 | GBX858.39 Million | +82.08% |
| 2021-06-30 | GBX471.43 Million | +8.75% |
| 2020-06-30 | GBX433.50 Million | -0.66% |
| 2019-06-30 | GBX436.40 Million | +4.15% |
| 2018-06-30 | GBX419.00 Million | +2.54% |
| 2017-06-30 | GBX408.61 Million | +32.77% |
| 2016-06-30 | GBX307.75 Million | +6.71% |
| 2015-06-30 | GBX288.39 Million | +95.29% |
| 2014-06-30 | GBX147.68 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bluefield Solar Income Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 577.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (June 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX46.30 Million | 6.71% |
| Common Stock | GBX643.81 Million | 93.29% |
| Total Equity | GBX690.11 Million | 100.00% |
Bluefield Solar Income Fund Competitors by Market Cap
The table below lists competitors of Bluefield Solar Income Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Pennexx Foods Inc
PINK:PNNX
|
$100.75 |
|
Pardus Ventures Inc.
V:PDVN-P
|
$100.82 |
|
Resqunit AB
ST:RESQ
|
$100.99 |
|
INTILAND DEV
MU:DIIA
|
$101.04 |
|
BlockQuarry Corp
PINK:BLQC
|
$100.16 |
|
PHSC PLC
LSE:PHSC
|
$100.07 |
|
Net One Systems Co. Ltd
PINK:NONEY
|
$100.00 |
|
Gase Energy Inc
PINK:GASE
|
$99.84 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bluefield Solar Income Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 781,557,000 to 690,108,000, a change of -91,449,000 (-11.7%).
- Net loss of 28,471,000 reduced equity.
- Dividend payments of 52,346,000 reduced retained earnings.
- Share repurchases of 10,738,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX-28.47 Million | -4.13% |
| Dividends Paid | GBX52.35 Million | -7.59% |
| Share Repurchases | GBX10.74 Million | -1.56% |
| Other Changes | GBX106.00K | +0.02% |
| Total Change | GBX- | -11.70% |
Book Value vs Market Value Analysis
This analysis compares Bluefield Solar Income Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 72.38x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 77.03x to 72.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-06-30 | GBX1.09 | GBX84.00 | x |
| 2015-06-30 | GBX1.27 | GBX84.00 | x |
| 2016-06-30 | GBX1.04 | GBX84.00 | x |
| 2017-06-30 | GBX1.16 | GBX84.00 | x |
| 2018-06-30 | GBX1.13 | GBX84.00 | x |
| 2019-06-30 | GBX1.18 | GBX84.00 | x |
| 2020-06-30 | GBX1.17 | GBX84.00 | x |
| 2021-06-30 | GBX1.20 | GBX84.00 | x |
| 2022-06-30 | GBX1.72 | GBX84.00 | x |
| 2023-06-30 | GBX1.40 | GBX84.00 | x |
| 2024-06-30 | GBX1.28 | GBX84.00 | x |
| 2025-06-30 | GBX1.16 | GBX84.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bluefield Solar Income Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.13%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -115.67%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 1.00x
- Recent ROE (-4.13%) is below the historical average (6.74%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 6.40% | 87.17% | 0.07x | 1.01x | GBX-5.32 Million |
| 2015 | 5.25% | 86.90% | 0.06x | 1.09x | GBX-13.69 Million |
| 2016 | 2.82% | 85.36% | 0.02x | 1.59x | GBX-22.11 Million |
| 2017 | 15.67% | 98.71% | 0.16x | 1.00x | GBX23.18 Million |
| 2018 | 8.30% | 97.51% | 0.09x | 1.00x | GBX-7.10 Million |
| 2019 | 10.29% | 97.92% | 0.11x | 1.00x | GBX1.29 Million |
| 2020 | 6.51% | 96.52% | 0.07x | 1.00x | GBX-15.11 Million |
| 2021 | 5.20% | 95.93% | 0.05x | 1.00x | GBX-22.63 Million |
| 2022 | 20.34% | 99.36% | 0.20x | 1.00x | GBX88.73 Million |
| 2023 | 5.48% | 5164.79% | 0.00x | 1.00x | GBX-38.63 Million |
| 2024 | -1.23% | -28.16% | 0.04x | 1.00x | GBX-87.76 Million |
| 2025 | -4.13% | -115.67% | 0.04x | 1.00x | GBX-97.48 Million |
Industry Comparison
This section compares Bluefield Solar Income Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $395,694,700
- Average return on equity (ROE) among peers: -81.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bluefield Solar Income Fund (BSIF) | GBX638.28 Million | 6.40% | 0.00x | $100.72 |
| 3I Infrastructure PLC (3IN) | $1.09 Billion | 8.57% | 0.18x | $396.99K |
| 450 PLC (450) | $1.30 Million | -791.13% | 5.03x | $1.71K |
| abrdn Asian Income Fund Limited (AAIF) | $431.48 Million | 11.10% | 0.09x | $315.37 |
| Abrdn Asia Focus PLC (AAS) | $464.40 Million | -2.37% | 0.15x | $434.78 |
| Albion Technology & General VCT PLC (AATG) | $34.46 Million | 4.41% | 0.01x | $78.71 |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $492.42 Million | 0.00% | 0.32x | $16.61 |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $2.38K |
| Aquila European Renewables Income PLC (AERI) | $320.23 Million | -9.29% | 0.00x | $2.45K |
| Artemis UK Future Leaders plc (AFL) | $84.35 Million | -40.52% | 0.02x | $401.26 |
| AVI Global Trust PLC (AGT) | $938.94 Million | 2.59% | 0.12x | $2.83 Million |