WHEB Asset Management has launched a sustainable investment fund focusing on worldwide megatrends.
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The IM WHEB Sustainability fund will invest globally and offer investors exposure to three main megatrends - water, climate change and demographics.
It will invest predominantly in international and UK companies that provide solutions to major global issues, such as water resource shortages, climate change and ageing populations.
The company said the fund would aim to take advantage of a variety of market conditions and position its portfolio defensively or towards growth stocks.
Under normal circumstances, the fund will hold cash on deposit up to 10 per cent of the value of the fund.
But WHEB said the managers may increase cash holdings to more than 10 per cent, which, in the first six months following launch, may be the case. The fund may also invest in derivatives to reduce risk.
The fund will be managed by Clare Brook and Nicola Donnelly, who will be supported by the WHEB research and advisory teams, which include leading figures in the environmental and financial industries.
According to WHEB, although many of the companies operating in the areas of focus for the fund have fallen sharply over the last year, they are now benefiting greatly from global stimulus packages.
With this in mind, the managers said now was a good time to invest in quality, established businesses at the heart of the "third industrial revolution" - or those companies that address clean energy, water infrastructure, efficient resource use and shifting demographics.
Brook said: "I have been investing in environmental companies since 1990, but I have never seen such an exciting combination of compelling valuations and actual change in legislation that is driving profitability."
Donnelly said she was "extremely confident" in the launch due to timing factors, market conditions and the underlying support they had at WHEB.
Fund Facts:
Minimum investment: £3,000
Initial charge: 5 per cent
AMC: 1.5 per cent
NEWS - Commodites, Agriculture, Green Investment - NEWS
6/11/2009
Pictet unveils agriculture-focused fund
Pictet & Co on Wednesday declared that its fund distribution firm, Pictet Funds (PF), has unveiled the PF (LUX)-Agriculture fund, according to a report in Eye of Dubai.
The new vehicle, which will be available to institutional, private banking and retail investors in select countries worldwide, will be run by Gertjan van der Geer, senior investment manager at the Swiss private bank.
The new vehicle, which will be available to institutional, private banking and retail investors in select countries worldwide, will be run by Gertjan van der Geer, senior investment manager at the Swiss private bank.
6/03/2009
Blue Marble Capital Launches Cleantech Hedge Fund
May 8, 2009
Canadian asset manager Blue Marble Capital Partners is going ‘green’ with the launch of its first hedge fund. The firm has recently unveiled a cleantech-focused hedge fund that will invest in carbon credits and clean technologies.
The new vehicle, the Carbon Alternative Fund, will be managed by Trevor Giles.
Half of the fund, which will invest globally, will be focused on carbon credits and other carbon-related investments, while the remainder will be invested in public and private clean technology companies, or firms that provide raw materials for these companies.
Blue Marble was formed to provide investors with annual absolute return capital appreciation by managing investments that are expected to benefit from a global transition towards carbon constrained societies, the emergence of global carbon markets, and related transitory resource and commodity imbalances, according to the firm’s Web site.
The new fund is open to Canadian and other international investors, but is currently not open to U.S. citizens.
Blue Marble is also in the process of developing what it believes will be Canada's first carbon-linked note and its first carbon-linked bond.
Canadian asset manager Blue Marble Capital Partners is going ‘green’ with the launch of its first hedge fund. The firm has recently unveiled a cleantech-focused hedge fund that will invest in carbon credits and clean technologies.
The new vehicle, the Carbon Alternative Fund, will be managed by Trevor Giles.
Half of the fund, which will invest globally, will be focused on carbon credits and other carbon-related investments, while the remainder will be invested in public and private clean technology companies, or firms that provide raw materials for these companies.
Blue Marble was formed to provide investors with annual absolute return capital appreciation by managing investments that are expected to benefit from a global transition towards carbon constrained societies, the emergence of global carbon markets, and related transitory resource and commodity imbalances, according to the firm’s Web site.
The new fund is open to Canadian and other international investors, but is currently not open to U.S. citizens.
Blue Marble is also in the process of developing what it believes will be Canada's first carbon-linked note and its first carbon-linked bond.
5/28/2009
Eurex to launch four agricultural futures in July
Hedgeweek
Thu, 28 May 2009
The international derivatives exchange Eurex is expanding its product range to include the agricultural products asset class.
Trading will start in July 2009 with four new futures based on the agricultural products hogs, piglets and potato crops (London potatoes and European processing potatoes).
All four futures are settled in cash. Market price indices act as underlyings which aim to increase market transparency.
Peter Reitz, member of the Eurex executive board, says: 'Our entry into the segment of agricultural derivatives is the systematic continuation of our strategy of covering all important asset classes with our own products. We aim to bring the well known advantages of our global network and central clearing system into this market that has had a strong national focus thus far. The strengths of the Eurex business model will accelerate international growth in this segment considerably.'
Plans are underway to expand the product offering of agricultural derivatives in 2010.
Thu, 28 May 2009
The international derivatives exchange Eurex is expanding its product range to include the agricultural products asset class.
Trading will start in July 2009 with four new futures based on the agricultural products hogs, piglets and potato crops (London potatoes and European processing potatoes).
All four futures are settled in cash. Market price indices act as underlyings which aim to increase market transparency.
Peter Reitz, member of the Eurex executive board, says: 'Our entry into the segment of agricultural derivatives is the systematic continuation of our strategy of covering all important asset classes with our own products. We aim to bring the well known advantages of our global network and central clearing system into this market that has had a strong national focus thus far. The strengths of the Eurex business model will accelerate international growth in this segment considerably.'
Plans are underway to expand the product offering of agricultural derivatives in 2010.
Hedge Funds Bet Most Since August on Commodities
By Chanyaporn Chanjaroen
May 26 (Bloomberg) -- Hedge funds are making the biggest bet in nine months that commodity prices will rise as the global economy rebounds from its steepest slump since World War II.
The CHART OF THE DAY shows an index of the net long position in U.S. commodity futures, or bets prices will rise, held by hedge funds and other large speculators. The index, consisting of 20 raw materials monitored by the U.S. Commodity Futures Trading Commission, rose to its highest since August.
The gain “indicates further willingness for investors to take on asset classes which they were earlier cautious of,” said Kevin Norrish, an analyst at Barclays Capital in London. The index plunged from a peak of 1.37 million in February last year to as little as 86,220 in December.
Sugar and corn had the largest net-long positions by the week ended May 19, while investors held the largest net-short positions in natural gas and copper.
“Agricultural products are not going to be as vulnerable to the current economic retrenchment as things like metals or oil,” Norrish said.
The Reuters/Jefferies CRB index of 19 raw materials rose 6.3 percent this year, after a 36 percent decline in 2008.
(To save a copy of the chart, click here.)
To contact the reporter on this story: Chanyaporn Chanjaroen in London at
May 26 (Bloomberg) -- Hedge funds are making the biggest bet in nine months that commodity prices will rise as the global economy rebounds from its steepest slump since World War II.
The CHART OF THE DAY shows an index of the net long position in U.S. commodity futures, or bets prices will rise, held by hedge funds and other large speculators. The index, consisting of 20 raw materials monitored by the U.S. Commodity Futures Trading Commission, rose to its highest since August.
The gain “indicates further willingness for investors to take on asset classes which they were earlier cautious of,” said Kevin Norrish, an analyst at Barclays Capital in London. The index plunged from a peak of 1.37 million in February last year to as little as 86,220 in December.
Sugar and corn had the largest net-long positions by the week ended May 19, while investors held the largest net-short positions in natural gas and copper.
“Agricultural products are not going to be as vulnerable to the current economic retrenchment as things like metals or oil,” Norrish said.
The Reuters/Jefferies CRB index of 19 raw materials rose 6.3 percent this year, after a 36 percent decline in 2008.
(To save a copy of the chart, click here.)
To contact the reporter on this story: Chanyaporn Chanjaroen in London at
5/18/2009
Impax AUM down 19 pct, cautiously optimistic on H2
05/13/2009 HedgeWorld
* Cites weak equity markets
* H1 profit before tax falls to 1.3 mln stg
* Aims to maintain annual dividend of 0.35p/shr
* Sees expansion opportunities in Asia
(Adds CEO's, COO's comments, updates share movement)
By Shivani Singh
BANGALORE, May 13 (Reuters) - Environmental investment manager Impax Group Plc said assets under management declined 19 percent in the first half of its financial year due to weak equity markets but it is cautiously optimistic about the second half.
"We are pleased with the last six months and cautiously optimistic about the next period and very optimistic about the medium to long term," Chief Executive Ian Simm told Reuters in an interview.
Impax invests in sectors such as renewable energy, water treatment and waste management that may benefit from government environmental initiatives globally.
The company said assets under management fell to 889 million pounds ($1.35 billion) as of March 31 from 1.10 billion pounds on Sept. 30, but had recovered to 986 million pounds by April 30.
Net outflows were about 48 million pounds in the period, characterised by "a small percentage of reductions in investments (by clients) rather than clients walking away completely," Chief Operating Officer Charlie Ridge told Reuters.
Impax posted a first-half profit before tax of 1.3 million pounds, hurt by an increase in operating costs. It reported a profit of 1.6 million pounds before tax a year ago.
Revenue rose 11 percent to 5.5 million pounds, including exceptional non-recurring fees of 945,620 pounds, for the six months ended March 31.
Impax, which paid a 0.35 pence maiden annual dividend for the year to last September, plans to maintain the dividend at the same levels as last year, CEO Simm said.
The company did not propose an interim dividend as it plans to have a single annual dividend subject to market conditions.
EXPANSION PLANS
Impax, which has 32 employees, plans to add another 10 to 15 people in London over the next couple of years, CEO Simm said.
The company expects to grow organically and is not actively looking at acquisitions as a strategy for growth.
Its funds, including Impax Environmental Markets Plc, have the capacity to double the amount of money they manage, Simm said.
Impax, which has operations in London and Hong Kong, associates in Europe and partners in the United States and Japan, expects to expand activities in Asia over the next 12 months.
The company is in discussions regarding research and distribution opportunities including selling funds to Indian nationals, institutions and non-resident Indians with a financial institution in India, Simm said.
At 1230 GMT, shares of Impax were up 5 percent at 25 pence on the London Stock Exchange. The shares have gained about 19 percent in the past six months.
($1=.6582 Pound) (Editing by Mike Miller)
((shivani.singh@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: shivani.singh.thomsonreuters.com@reuters.net)) Keywords: IMPAX/
* Cites weak equity markets
* H1 profit before tax falls to 1.3 mln stg
* Aims to maintain annual dividend of 0.35p/shr
* Sees expansion opportunities in Asia
(Adds CEO's, COO's comments, updates share movement)
By Shivani Singh
BANGALORE, May 13 (Reuters) - Environmental investment manager Impax Group Plc
"We are pleased with the last six months and cautiously optimistic about the next period and very optimistic about the medium to long term," Chief Executive Ian Simm told Reuters in an interview.
Impax invests in sectors such as renewable energy, water treatment and waste management that may benefit from government environmental initiatives globally.
The company said assets under management fell to 889 million pounds ($1.35 billion) as of March 31 from 1.10 billion pounds on Sept. 30, but had recovered to 986 million pounds by April 30.
Net outflows were about 48 million pounds in the period, characterised by "a small percentage of reductions in investments (by clients) rather than clients walking away completely," Chief Operating Officer Charlie Ridge told Reuters.
Impax posted a first-half profit before tax of 1.3 million pounds, hurt by an increase in operating costs. It reported a profit of 1.6 million pounds before tax a year ago.
Revenue rose 11 percent to 5.5 million pounds, including exceptional non-recurring fees of 945,620 pounds, for the six months ended March 31.
Impax, which paid a 0.35 pence maiden annual dividend for the year to last September, plans to maintain the dividend at the same levels as last year, CEO Simm said.
The company did not propose an interim dividend as it plans to have a single annual dividend subject to market conditions.
EXPANSION PLANS
Impax, which has 32 employees, plans to add another 10 to 15 people in London over the next couple of years, CEO Simm said.
The company expects to grow organically and is not actively looking at acquisitions as a strategy for growth.
Its funds, including Impax Environmental Markets Plc
Impax, which has operations in London and Hong Kong, associates in Europe and partners in the United States and Japan, expects to expand activities in Asia over the next 12 months.
The company is in discussions regarding research and distribution opportunities including selling funds to Indian nationals, institutions and non-resident Indians with a financial institution in India, Simm said.
At 1230 GMT, shares of Impax were up 5 percent at 25 pence on the London Stock Exchange. The shares have gained about 19 percent in the past six months.
($1=.6582 Pound) (Editing by Mike Miller)
((shivani.singh@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: shivani.singh.thomsonreuters.com@reuters.net)) Keywords: IMPAX/
Investir dans l’énergie reste attrayant
Le Temps - Par Youri Vorobiev*
Même en phase de baisse des cours du brut, l’efficience énergétique et la sécurité de l’approvisionnement rendent les placements dans les énergies alternatives attrayants
Les cours élevés du pétrole sont considérés comme un motif d’investissement dans les énergies alternatives. Depuis son record historique l’été dernier, le prix du baril a reculé d’environ deux tiers. La perte de compétitivité qui s’en est suivie pour les énergies alternatives a remis en cause les investissements dans ce secteur.
Efficience: potentiel élevé
Sous l’angle des coûts, les technologies telles que l’énergie solaire, éolienne et hydraulique sont nettement moins intéressantes que les énergies conventionnelles. Toutefois, les entreprises spécialisées dans l’efficience énergétique représentent aussi un segment au sein du secteur de l’énergie. Ces entreprises basent leur activité sur un constat: 80% de l’énergie produite est perdue avant même d’être utilisée. Par conséquent, la réduction des pertes d’énergie au cours de la production, de la transformation, du transport et de la consommation peut considérablement améliorer la consommation et les coûts de l’énergie, même lorsque le pétrole est bon marché. Les entreprises qui cherchent à optimiser la production d’énergie ou la transformation de l’électricité et son transport offrent donc un potentiel considérable.
La sécurité énergétique est aussi un thème majeur. Comment couvrir les besoins croissants en énergie de la planète et réduire les risques de rupture d’approvisionnement? La réponse à cette question est à rechercher du côté de la diversification et trouve sa source dans les facteurs qui mettent en péril la sécurité énergétique. En effet, la forte concentration des ressources d’énergie fossiles constitue l’un des plus grands risques à cet égard: les réserves d’énergie conventionnelle se situent dans un nombre limité de pays. Ainsi, les pays membres de l’OPEP disposent des trois quarts des réserves de pétrole mondiales contre 7% pour les pays de l’OCDE qui consomment pourtant 60% du pétrole produit. La situation est similaire pour le gaz dont plus de la moitié des réserves se concentre dans trois pays: Russie, Iran et Qatar alors que les pays de l’OCDE monopolisent plus de 50% de la consommation mondiale.
Quelques grands pays de l’UE ont pris l’entière mesure de cette dépendance en décembre dernier lorsque le conflit autour du gaz qui a opposé l’Ukraine à la Russie a entraîné une rupture de l’approvisionnement en gaz en plein hiver. La concentration des réserves d’énergie conventionnelles constitue l’un des principaux risques pour la sécurité énergétique mondiale. Toutefois, la menace croissante que représente le changement climatique n’est pas non plus négligeable. Les conditions climatiques extrêmes qui, selon les experts, n’iront qu’en s’aggravant, sont un risque à prendre très au sérieux. Les récentes catastrophes climatiques ont démontré toute l’importance de la garantie de la sécurité énergétique qui sera assurée au mieux en diversifiant les sources d’énergie et en ayant recours à des technologies plus efficientes. Dans ce contexte, les ressources renouvelables telles que l’eau, le vent, le soleil ou la biomasse jouent un rôle essentiel. Certes, ces sources d’énergie ne remplaceront pas les formes traditionnelles d’énergie à court ou moyen terme, mais un mix d’énergies pourra contribuer à la sécurité énergétique.
Cherté du brut inévitable
L’évolution de l’offre et de la demande en énergie est aussi déterminante pour l’attrait de ces investissements. Les réserves mondiales de ressources limitées telles que le pétrole brut, le gaz naturel ou l’énergie atomique commencent à s’épuiser alors que leur consommation augmente massivement depuis 100 à 150 ans. L’Agence internationale de l’énergie (AIE) prévoit une hausse de la demande en énergie primaire de 45% d’ici à 2030. La Chine et l’Inde consommeront à elles seules plus de la moitié de cette énergie. L’augmentation des besoins en pétrole dans le monde est essentiellement alimentée par le secteur des transports qui a prouvé par le passé sa quasi-insensibilité aux fluctuations du prix de l’or noir. Une hausse des cours du brut est donc inévitable. Ces perspectives augmentent un peu plus encore l’attrait des investissements dans les énergies renouvelables. Si l’on ajoute à cela la diversification énergétique qui devrait permettre de combler les lacunes de l’offre d’énergies traditionnelles tout en réduisant les risques liés à l’approvisionnement en énergie, le rôle décisif que les énergies alternatives seront amenées à jouer à l’avenir s’en voit particulièrement renforcé.
* Gestionnaire du Vontobel Fund – Global Trend New Power.
Même en phase de baisse des cours du brut, l’efficience énergétique et la sécurité de l’approvisionnement rendent les placements dans les énergies alternatives attrayants
Les cours élevés du pétrole sont considérés comme un motif d’investissement dans les énergies alternatives. Depuis son record historique l’été dernier, le prix du baril a reculé d’environ deux tiers. La perte de compétitivité qui s’en est suivie pour les énergies alternatives a remis en cause les investissements dans ce secteur.
Efficience: potentiel élevé
Sous l’angle des coûts, les technologies telles que l’énergie solaire, éolienne et hydraulique sont nettement moins intéressantes que les énergies conventionnelles. Toutefois, les entreprises spécialisées dans l’efficience énergétique représentent aussi un segment au sein du secteur de l’énergie. Ces entreprises basent leur activité sur un constat: 80% de l’énergie produite est perdue avant même d’être utilisée. Par conséquent, la réduction des pertes d’énergie au cours de la production, de la transformation, du transport et de la consommation peut considérablement améliorer la consommation et les coûts de l’énergie, même lorsque le pétrole est bon marché. Les entreprises qui cherchent à optimiser la production d’énergie ou la transformation de l’électricité et son transport offrent donc un potentiel considérable.
La sécurité énergétique est aussi un thème majeur. Comment couvrir les besoins croissants en énergie de la planète et réduire les risques de rupture d’approvisionnement? La réponse à cette question est à rechercher du côté de la diversification et trouve sa source dans les facteurs qui mettent en péril la sécurité énergétique. En effet, la forte concentration des ressources d’énergie fossiles constitue l’un des plus grands risques à cet égard: les réserves d’énergie conventionnelle se situent dans un nombre limité de pays. Ainsi, les pays membres de l’OPEP disposent des trois quarts des réserves de pétrole mondiales contre 7% pour les pays de l’OCDE qui consomment pourtant 60% du pétrole produit. La situation est similaire pour le gaz dont plus de la moitié des réserves se concentre dans trois pays: Russie, Iran et Qatar alors que les pays de l’OCDE monopolisent plus de 50% de la consommation mondiale.
Quelques grands pays de l’UE ont pris l’entière mesure de cette dépendance en décembre dernier lorsque le conflit autour du gaz qui a opposé l’Ukraine à la Russie a entraîné une rupture de l’approvisionnement en gaz en plein hiver. La concentration des réserves d’énergie conventionnelles constitue l’un des principaux risques pour la sécurité énergétique mondiale. Toutefois, la menace croissante que représente le changement climatique n’est pas non plus négligeable. Les conditions climatiques extrêmes qui, selon les experts, n’iront qu’en s’aggravant, sont un risque à prendre très au sérieux. Les récentes catastrophes climatiques ont démontré toute l’importance de la garantie de la sécurité énergétique qui sera assurée au mieux en diversifiant les sources d’énergie et en ayant recours à des technologies plus efficientes. Dans ce contexte, les ressources renouvelables telles que l’eau, le vent, le soleil ou la biomasse jouent un rôle essentiel. Certes, ces sources d’énergie ne remplaceront pas les formes traditionnelles d’énergie à court ou moyen terme, mais un mix d’énergies pourra contribuer à la sécurité énergétique.
Cherté du brut inévitable
L’évolution de l’offre et de la demande en énergie est aussi déterminante pour l’attrait de ces investissements. Les réserves mondiales de ressources limitées telles que le pétrole brut, le gaz naturel ou l’énergie atomique commencent à s’épuiser alors que leur consommation augmente massivement depuis 100 à 150 ans. L’Agence internationale de l’énergie (AIE) prévoit une hausse de la demande en énergie primaire de 45% d’ici à 2030. La Chine et l’Inde consommeront à elles seules plus de la moitié de cette énergie. L’augmentation des besoins en pétrole dans le monde est essentiellement alimentée par le secteur des transports qui a prouvé par le passé sa quasi-insensibilité aux fluctuations du prix de l’or noir. Une hausse des cours du brut est donc inévitable. Ces perspectives augmentent un peu plus encore l’attrait des investissements dans les énergies renouvelables. Si l’on ajoute à cela la diversification énergétique qui devrait permettre de combler les lacunes de l’offre d’énergies traditionnelles tout en réduisant les risques liés à l’approvisionnement en énergie, le rôle décisif que les énergies alternatives seront amenées à jouer à l’avenir s’en voit particulièrement renforcé.
* Gestionnaire du Vontobel Fund – Global Trend New Power.
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