Triodos Sustainable Pioneer Fund
During 2015, the total net assets of Triodos Sustainable Pioneer Fund grew from EUR 104.8 million to EUR 161.9 million. During this period, the sub-fund (R-Cap) achieved a return of 17.2%, while the benchmark rose 14.5%.
The outperformance of the sub-fund relative to the benchmark was mainly due to the above-average share price rises for wind turbine and solar panel manufacturers, as well as the sub-fund’s overweight position in the strong performing Climate Protection theme. Outperformers in the CSR Pioneer theme also contributed to the favourable result. Stocks covered by the Clean Planet theme underperformed relative to the sub-fund’s average return. The increased underweighting of this theme did, however, contribute to the sub-fund’s outperformance.
Evolution of returns Triodos Sustainable Pioneer Fund
* Triodos Sustainable Pioneer Fund aims to achieve returns that are in line with the market. The sub-fund compares its return with a composite index denominated in euros. This index comprises four sub-indices that are related to the four themes of the sub-fund. The index for the Clean Planet theme is the FTSE Environmental Opportunities All-Share Index (30%). The index for Climate Protection is the WilderHill New Energy Global Innovation Index (30%). The index for Healthy People is the MSCI World Health Care Equipment & Services Index (30%). The index for CSR Pioneers is the MSCI Small Cap World Index (10%). These are generally accepted indices for (non-sustainable) worldwide diversified equity funds. The investment policy that is pursued by Triodos Sustainable Pioneer Fund is not aimed at replicating or outperforming the benchmark in the short term. The sub-fund may deviate from the benchmark because the sub-fund only invests in companies that meet the sub-fund’s strict sustainability criteria. We believe that in the longer term sustainable investments offer more stable and higher returns than non-sustainable investments. We therefore tend to invest in companies on the basis of a long-term investment horizon.