The fund seeks long-term beneficiaries of the major trends associated with the energy transition. It invests in companies which have secular growth opportunities related to changes in the way energy is produced and consumed.
Fund Stats as of 28/09/2023:
NAV
€130.62
Number of Positions
27
ISIN
IE00BYVQ9740
Legal Structure
UCITS
Base Currency
EUR
Subscriptions/Redemptions
Daily
Investment minimum for Founders
€5,000,000
The fund seeks long-term beneficiaries of the major trends associated with the energy transition. It invests in companies which have secular growth opportunities related to changes in the way energy is produced and consumed. The fund’s objective is to maximize risk-adjusted returns by investing in companies focused on more efficient use of resources and emissions reduction. The sectors exposed to the energy transition include utilities, technology, cleantech, industrials, mobility, specialty chemicals and waste.
Produced by MSCI ESG Research as of 30 June 2023
Philosophy
The investment team concentrates on sustainability, incorporating critical layers of ESG analysis in an effort to mitigate climate change-related tail risks, influence corporate behaviour by engaging with companies’ managements, and deliver strong risk-adjusted returns for investors.
Process
The investment process incorporates top-down analysis to identify key industry, regulatory, technology and environmental themes. Portfolio allocation decisions are based on fundamental bottom-up analysis, including ESG research, to assess individual company outlooks.
Fund information
As of 31/08/2023
Launch Date
1 August 2018
Base Currency
EUR
Currencies
EUR/USD/GBP/SEK/NOK/CHF
Portfolio Manager
Ecofin Advisors Limited (formerly known as Tortoise Advisors UK Limited)
Investment minimum for Founders 1
€5,000,000
Benchmark
MSCI World Index
Distribution Policy
Accumulating
Fund AUM
€15.7M
ISIN
IE00BYVQ9740
Legal Structure
UCITS
Subscriptions/Redemptions
Daily
Subscription/Redemption Notice
3 business days
Administrator
Société Générale/ Securities Services, (SGSS (Ireland) Limited)
Fees
| Share Class | Management Fee 2 | Performance Fee 3 |
|---|---|---|
| Class A | 0.85% | - |
| Class B | 0.80% | 10.00% |
| Class C | 0.75% | 10.00% |
| Class D | 1.25% | - |
| Class E (Founder) | 0.60% | - |
| Class F (Founder) | 0.50% | 10.00% |
Different investment minimums are available, dependent on share class/currency
Per annum on the net asset value of the fund.
Total expenses (excluding investment management fee) will not exceed 1.0% per annum of the net asset value of the fundOn the outperformance of the MSCI World Index.
Portfolio Exposure (% of invested capital)
As of 31/08/2023
Top 10 Positions
| Company | % of Total |
|---|---|
NextEra Energy, Inc. | 5.8% |
Constellation Energy | 5.4% |
EDP - Energias de Portugal SA | 5.2% |
TE Connectivity Ltd | 5.2% |
Rohm Co Ltd | 5.2% |
| Company | % of Total |
|---|---|
Prysmian SpA | 5.1% |
Infineon Technologies AG | 4.5% |
Trane Technologies PLC | 4.4% |
Schneider Electric SE | 4.4% |
Enel SpA | 4.4% |
Top 10 Positions as % of Investment Securities: 49.6%
Fund holdings are subject to change and are not recommendations to buy or sell any security. Reflected as a percentage of long-term investments.
Net Performance as of 30/06/2023
| Class/Name | QTD | 1 Year | 3 Year | Since Inception |
|---|---|---|---|---|
| NAV | 1.76% | 11.19% | 37.62% | 46.57% |
| MSCI ACWI | 5.73% | 11.66% | 40.75% | 52.94% |
Net Performance as of 31/08/2023
| Class/Name | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | Since Inception |
|---|---|---|---|---|---|---|
| NAV | -6.74% | -3.09% | -4.57% | -10.97% | 15.56% | 37.47% |
| MSCI ACWI | -1.25% | 4.72% | 7.76% | 5.57% | 34.82% | 54.91% |
Annual Performance (Class E) (EUR)
| (total return in €) | 2018 (since inception) | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| NAV | -18.3% | 35.7% | 39.3% | 14.0% | -20.3% |
| MSCI ACWI | -10.7% | 29.9% | 6.6% | 27.5% | -13.0% |
As of 31/12/2022
PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE RESULTS. Performance is shown net of fees. Performance is run on the Founder share class (Class E) which has a preferential management fee of 60bps and no performance fee; performance is extracted for the period since 14 September 2018. Returns may increase or decrease due to currency fluctuations.
The MSCI ACWI Net Total Return EUR Index captures large and mid cap representation across 23 Developed Markets (DM) and 26 Emerging Markets (EM) countries. With 3,046 constituents, the index covers approximately 85% of the global investable equity opportunity set. It is not possible to invest directly in an index.
Source: Bloomberg and Ecofin Advisors Limited.
Ecofin Energy Transition UCITS Fund EETU
Energy Transition
30/06/2023
Ecofin Energy Transition UCITS 2Q 2023 Commentary
Until 5 June 2019, the Ecofin Energy Transition UCITS Fund (the "Fund"), a sub-fund of the Gateway UCITS Fund PLC, was managed by GCA Investment Management LLC, with Ecofin Advisors Limited providing investment advisory services from early February 2019. On 6 June 2019, Ecofin Advisors Limited was formally appointed as the investment manager of the Fund.
EETU is passported for distribution in the UK, Ireland, France, Norway, Denmark, Sweden, Finland, Spain, Italy, the Netherlands, and Ireland; access to information on this Fund is not intended for prospective EU investors outside of these jurisdictions other than under a local regulatory exemption.
Information on this website is provided by Ecofin Advisors Limited ("Ecofin UK"), in relation to this Fund in respect of which Ecofin UK manages the portfolio.
Ecofin UK is a leading investment management advisor within the Ecofin family, specialising in sustainability and impact investing globally across the energy transition value chain. It has been FCA regulated since 1992 and SEC registered since January 2006.
Office: London