As of 5 August 2019, 16.00 hrs, Triodos Groenfonds is temporarily closed for new inflow.
According to the 'Regeling Groenprojecten' (‘Green Regulation’) Triodos Groenfonds invests in projects that have been designated as green projects by the Dutch government. This arrangement provides Dutch retail investors a potential opportunity to enjoy a fiscal benefit in income tax, depending on their personal circumstances. As part of this arrangement, Triodos Groenfonds needs to invest at least 70% of its asset under management in these green projects.
In the past months, Triodos Groenfonds has experienced strong inflows. The assets under management of the fund have grown by approximately EUR 100 million in the first seven months of 2019. Although the fund has a very strong pipeline of green projects, the time needed to do the investments is not in line with the pace of the inflow. This means that the risk for Triodos Groenfonds to drop under the 70% limit of green investments is becoming too high. If this would happen, Triodos Groenfonds could threaten its status as green fund according to the 'Regeling Groenprojecten' and ultimately the investors' potential fiscal benefit. Therefore, the fund has been temporarily closed for new inflow.
Investors that would like to sell their shares in the fund can still do so. At this point in time it is not yet clear when the fund will reopen for new inflow.
Please find the full press release (in Dutch) on the right.