Steady growth assets under management
In the first half of 2019, both Triodos Renewables Europe Fund and Triodos Groenfonds realized significant growth. Triodos Renewables Europe Fund, which invests in small and medium-sized renewable energy projects, grew its assets under management (AuM) by 21.7% to EUR 101.0 million. Triodos Groenfonds, which invests in green projects that promote sustainable development, grew by 9.2% to EUR 966.2 million. Due to this strong growth the fund had to temporarily close for new inflows as per August 5th, 2019.
The Triodos Impact Equities & Bond funds, investing in listed companies that actively contribute to a sustainable transition, registered a combined growth of the AuM by 20.2% to EUR 1,780.4 million. The funds benefited from the equity rally in the first quarter of 2019. Although stock market performance in the second quarter of 2019 was more volatile, overall the funds realised strong performance results in the first half of 2019.
In a time of increased competition in sustainable investing, we are happy to experience a stable growth of the funds entrusted to us by the many investors who invest for positive change.
Triodos Fair Share Fund grew by 5.7% to EUR 386.6 million, whereas Triodos Microfinance Fund noted a marginal decrease of its AuM by 0.4% to EUR 380.1 million, following the redemption of shares by a larger institutional investor. This redemption was almost fully compensated by strong inflows in the first half of 2019. Both funds invest in financial institutions in emerging markets.
Triodos Organic Growth Fund, which invests in the growth of the organic consumer and sustainable lifestyle sector in Europe, also noted a marginal decrease of 0.8% to EUR 54.9 million. This is mostly the result of negative shortterm portfolio performance. The performance in the longer term is expected to be in line with the fund’s long-term projection.
The assets under management of Triodos Multi Impact Fund, the Triodos fund-of-funds, decreased by 3.3% to EUR 36.5 million.
During the first half of 2019, the net asset value of the Sustainability, Finance and Real Economies Fund (SFRE) increased by 5.1% to USD 38.4 million. SFRE Fund was launched in March 2015 by the Global Alliance for Banking on Values (GABV). It is the first global open-ended investment fund created to deploy long-term and mission aligned capital to values-based banks and is managed by Triodos Investment Management since January 2018. We have been able to lower the fund’s operating costs and to fully invest the committed capital, which is reflected in the fund’s recent returns.
Returns
Based on their net asset value the funds' performance as per the last trading date of June 2019 was:
Fund | 1-year | 3-year | 5-year |
Triodos Groenfonds* | 2.7% | 1.4% | 1.8% |
Triodos Fair Share Fund** | 3.7% | 3.0% | 3.4% |
Triodos Microfinance Fund (I-cap share class) | 3.5% | 3.2% | 3.8% |
Triodos Organic Growth Fund (Q-dis share class) | -9.6% | 0.2% | 1.3% |
Triodos Renewables Europe Fund (Z-cap share class)**** | 6.7% | 4.6% | 3.3% |
Triodos Global Equities Impact Fund (Z-dis share class)** | 12.6% | 9.2% | 9.4% |
Triodos Impact Mixed Fund - Neutral (Z-dis share class)** | 7.5% | 4.1% | 5.2% |
Triodos Pioneer Impact Fund (Z-cap share class)** | 8.7% | 6.5% | 7.0% |
Triodos Euro Bond Impact Fund (Z-dis share class)** | 4.2% | 0.9% | 2.0% |
Triodos Multi Impact Fund (Z-dis share class) *** | 1.0% | 0.9% |
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SFRE Fund***** (A-USD share class) | 4.1% | -7.8% |
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* Return including reinvestment of dividends, excluding potential fiscal benefit for investors.
** Return including reinvestment of dividends.
*** This fund was launched on 1 December 2015. The 5-year return is therefore not available.
**** Return including reinvestment of realised gains.
***** This fund was launched in March 2015. The 5-year return is therefore not available.
Download the full semi-annual reports by clicking on the fund names, for more detailed information on our funds' financial performance. For a more extensive overview of their positive impact, download the annual impact reports, published in the first half of 2019.