QUAERO CAPITAL launches Accessible Clean Energy fund


Geneva-based QUAERO CAPITAL has launched an Accessible Clean Energy fund managed by Martina Turner and Zoë VanderWolk, to capture increasing investor interest in the switch to alternative clean energy sources worldwide.

The $32 million UCITS fund, a Luxembourg domiciled SICAV registered for Pan-European distribution in different countries, will be marketed to institutional and professional investors across Europe and the UK. It is a high conviction, active strategy which strengthens the sector funds offering from QUAERO CAPITAL.

Martina Turner joined QUAERO CAPITAL in 2017 as a Fund Manager. She is the founder of the Accessible Clean Energy investment strategy, which she set up in 2014. Following extensive experience acquired at Tier-1 financial institutions in equities, business development, and clean energy investments, she trained in solar technology and materials science at MIT seminars, and in microcredit for solar installation at Grameen Bank.

Subsequently, she developed an investment strategy to generate profitable returns investing in companies focused on development, production and sale of clean energy technologies. After over two years of successful tracking, this became the strategy of a structured fund, anchored by a pension fund.

Zoë VanderWolk joined QUAERO CAPITAL at the same time as Turner, after many years’ experience as a lawyer in the clean energy sector, including advising on power projects, environmental and carbon markets. With a BA in Statistics from Harvard University, she has worked for Baker & Mackenzie LLP.

The Accessible Clean Energy strategy is supported by a high level Advisory Board, comprised of Georges Dupont-Roc, founder of Royal Dutch/Shell Renewable Energies and former Director of Sustainable Development at Total, who has 35 years of strategic, operational and technical experience across the energy industry.

Nancy Hirshberg is the Founder and Chief Catalyst at sustainability consulting firm Hirshberg Strategic (USA) and former VP for CSR leader Stonyfield Yogurt’s award-winning energy and sustainability programs. Jim Bain Member is a member of the Institute of Chartered Accountants of Scotland with 30 years in the Oil & Gas industry in North and South America, Europe, Africa and Asia.

The Fund aims to reduce carbon emissions by investing in listed fast-growing clean energy stocks. Importantly, the sector is no longer reliant on subsidies or non-profit investments. In a positive self-reinforcing cycle, clean energy technology is getting cheaper as demand grows, which in turn is improving the risk-return profile for investors as economies of scale are realized.

Capital for clean energy development has traditionally been accessible mainly via private equity investment vehicles with long lock-up periods. Public markets are now meeting that capital demand more efficiently. The new fund is an open-ended investment fund offering daily liquidity.

“Clean energy has definitively shifted to an unsubsidized, truly competitive mix of industries,” said Turner. “The cheapest renewables - Solar PV (photovoltaics) and Wind are already cheaper than the cheapest form of conventional power. In addition, storage costs are now so cheap that wind, solar and storage can together provide more reliable baseload power with no intermittency, outages or energy security issues.”

VanderWolk noted: “This is the fourth Industrial Revolution. The speed of breakthrough has no historical precedent. It is a global proposition driven by demographics, development and technological change. Innovation has helped reduce costs but barriers to entry are still high. Leading companies now have strong, competitive and profitable business models. The technologies have been tried and tested and are now robust.”

The fund invests across the entire clean energy value chain, drawing from an addressable universe of 650 listed equities. With a typical portfolio of 28-35 stocks selected on a three-year view, the biggest sector allocations are in energy efficiency and energy storage, which comprise around half the portfolio, with the remainder including wind, solar and geothermal energy generation, and equipment manufacturers.

The clean energy sector is particularly well suited to active management, since the technology is evolving so quickly, conventional analysis has been thin and intermittent, and comment has been consistently proved wrong. Careful research and stock selection has so far generated strong outperformance.

For the managers, the provenance and clarity of the fund differentiates it from many others in a rapidly growing sector. It is focused purely on clean energy, where other strategies have diluted that with exposure to related industries like automation or robotics, or by including ‘cleaner’ fossil fuels such as gas or nuclear energy. “These offer little to investors concerned about decarbonisation,” notes Turner.

QUAERO CAPITAL is a signatory to the UN Principles for Responsible Investment (UN PRI) and the managers will use their voting rights to encourage the implementation of best practices aiming at improving the business sustainability, soundness and profitability of the companies held in the portfolio on the basis of ESG (Environmental, Social and Governance) criteria.

Notes to Editors

About QUAERO CAPITAL

QUAERO CAPITAL is an independent, specialist asset manager which brings together independently minded investment managers who use original research to provide highly actively managed strategies for clients in the institutional and wholesale markets. QUAERO CAPITAL. was founded in 2005 in Geneva, it is 100% employee-owned with its founding partners taking an active role in its investment processes. The firm is a team of 44 individuals including 24 experienced investors who enjoy working in an investment focused environment. QUAERO CAPITAL offers a range of high conviction investment strategies spread across 13 Luxembourg UCITS funds, one Luxembourg SIF, two Swiss regulated funds and one French regulated fund. If you would like more information about QUAERO CAPITAL then please go to www.quaerocapital.com

Regulatory Notes:

This is a marketing document and is intended for informational and/or marketing purposes only. This document is confidential and is intended only for the use of the person(s) to whom it was delivered. It is neither directed to, nor intended for distribution or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation. This document is neither an offering memorandum, nor should it be considered as a solicitation to purchase or to invest in Quaero Capital Funds (Lux). Any offer to purchase shares in the funds based on this document will not be capable of acceptance. The Prospectus, KIID, articles, annual and semi-annual reports (the “legal documents”) may be obtained free of charge at the address mentioned below. Please read the legal documents before investing and take note of the risk factors listed in the fund's prospectus that are not intended to be reproduced in full in this document. No guarantee can be provided that the funds presented will attains their objectives. The value of an investment may decline as well as increase and shareholders risk to lose part or all of their investment. In addition, any performance data included in this document does not take into account fees and expenses charged on issuance and redemption of securities nor any taxes that may be levied. Changes in exchange rates may cause increases or decreases in your return. All persons interested in investing in the funds presented are recommended to seek advice from independent legal and tax financial advisors in order to ascertain whether the investment is appropriate to their own objectives. The information and figures here-in are valid on the here-of- there is no obligation to update them.

Quaero Capital Funds (Lux)

Notice for Swiss investors: the legal documents may be obtained free of charge in French from the Swiss representative of the fund. Swiss representative: Fundpartner Solutions (Suisse) S.A., Route des Acacias 60, CH-1211 Geneva, Switzerland. Swiss paying agent: Banque Pictet & Cie S.A. Route des Acacias 60, CH-1211 Geneva, Switzerland. Latest prices are available on www.fundinfo.com.

Notice for UK investors: the legal documents may be obtained free of charge in English from the UK representative of the fund: Quaero Capital (UK) LTD 33 St James’s Square SW1Y 4JS London.

Notice for other investors: the legal documents may be obtained free of charge in English at the registered office of the fund 15, Avenue J.F. Kennedy l-1855 Luxembourg.

You should remember that past performance is not a guide to the future. The price of investments and the income from them may fall as well as rise and investors may not get back the full amount invested.

For further information Fortuna Asset Management Communications :

John Morgan Sam Shelton

Tel: +44 (0) 7769 262272 M: +44 (0) 7540336998

EM: john@fortunaamc.co.uk sam@fortunaamc.co.uk

Web www.fortunaamc.co.uk

Read Fortuna’s regular ESG Column here: https://www.fortunaamc.co.uk/esg


© 2020 by Fortuna AMC. 

Fortuna Asset Management Communications Ltd is a private Company

incorporated in the UK under the Companies Act 2006. Its Company Number 8160791.

View our Privacy Policy here

  • LinkedIn Clean
  • Twitter Clean
  • YouTube
  • Black LinkedIn Icon
  • Black Twitter Icon
  • Black YouTube Icon