The BNP Paribas Energy Transition fund has reached EUR 1.5bn AUM seeing a return of 132% YTD.
The fund, managed by Ulrik Fugmann and Edward Lees, invests in companies developing energy transition solutions and has seen a return of 132% so far this year, 127% ahead of its index. BNP PAribas says the size of the fund has increased from EUR 1bn to EUR 1.5bn in the past two weeks.
The fund consists of an equity portfolio of 40-60 European, Asian and US companies across three themes of decarbonisation, digitalisation and decentralisation. Portfolio companies are those developing solutions within renewable & transitional energy production, to replace coal, oil or gas; those offering technology designed to improve energy efficiency or reduce waste; or those expanding energy infrastructure, such as transportation networks or storage facilities.