Change Investment Management, the specialist manager formed late last year by two former Citi directors, has launched its first fund – the Carbon Opportunities Fund.
Lisa Wade and Nicki Ashton, co-founders of Change, built their cleantech credentials at Arkx Investment Management, the first Australian fund for the low-carbon sector, from 2007 after leaving Citi.
The Arkx fund, now an affiliate of Ascalon Capital Managers, outperformed the MSCI World index by 25.5 percentage points in the 22 months to October last year while the pair were portfolio managers there.
They have been joined at Change by Magnus Maynard as non-executive director. He runs a telecommunications company, Touchbase Group.
Wade said before the fund’s launch in Sydney last night: “We recognise the prospect of profiting from the new energy reality is extremely compelling for investors. But believing in the concept is not enough. Investors recognise there will be winners and losers in the space as well as volatility and they want a product that tales all this into consideration.”
The global equity fund will invest in renewable energy, clean technology and energy-efficient companies.
Change has lined up a range of specialist advisers and research partners for the fund.