Skip to main content

Sustainable Energy - December Commentary

 

Jonathan Waghorn Portfolio Manager, Specialist Team

/

 

Will Riley Portfolio Manager, Specialist Team

This is a marketing communication. Please refer to the prospectus, supplement and KID/KIID for the Funds before making any final investment decisions. Past performance does not predict future returns.

ENERGY ISSUES FOR THE TRUMP ADMINISTRATION 

Surging electricity demand, as a result of the growth of artificial intelligence and the wider trend of electrification, is the most critical energy issue as Donald Trump assumes office in January. For him to win the ‘AI arms race’, he will need to oversee significant grid upgrades and near-term growth in both renewable and natural gas-based power generation, because new nuclear is unlikely to play a part before the mid-2030s. 

EQUITIES 

The Guinness Sustainable Energy Fund (Class Y) delivered a return of -1.4% (in USD) in November, underperforming the MSCI World at +4.6%. Following the election of Donald Trump, we saw US industrials rally, with Owen’s Corning, Eaton and Trane Technologies among the fund’s top performers. Meanwhile, wind names Vestas and TPI Composites were among the fund’s weakest performers as concerns around the future of the Inflation Reduction Act weighed on sentiment towards renewables and EVs. 

CHART OF THE MONTH: EFFICIENCY REGULATIONS 

Data from the International Energy Agency (IEA) suggests that global policy remains highly supportive for the energy efficiency sector. The number of national policies in force targeting building design, envelope technologies and insulation hit a new record in 2024, having increased by around 80% since 2019. 

National building efficiency policies in force globally

Source: IEA, 2024

 

READ FULL COMMENTARY

Learn more about Guinness Sustainable Energy

 

Guinness Asian Equity Income Webcast

Guinness Sustainable Energy 

 

Factsheets

Latest Factsheet

 

Guinness Asian Equity Income Webcast

Guinness Sustainable Energy - Webcast

 

The information provided on this page is for informational purposes only. While we believe it to be reliable, it may be inaccurate or incomplete. Any opinions stated are honestly held at the time of publication, but are not guaranteed and should therefore not be relied upon. This content should not be relied upon as financial advice or a recommendation to invest in the Funds or to buy or sell individual securities, nor does it constitute an offer for sale. Full details on Ongoing Charges Figures (OCFs) for all share classes are available here.

The Guinness Sustainable Energy Funds invest in companies involved in the generation, storage, efficiency and consumption of sustainable energy sources (such as solar, wind, hydro, geothermal, biofuels and biomass). We believe that over the next twenty years the sustainable energy sector will benefit from the combined effects of strong demand growth, improving economics and both public and private support and that this will provide attractive equity investment opportunities. The Funds are actively managed and use the MSCI World  Index as a comparator benchmark only.

Guinness Sustainable Energy Fund

Documentation
The documentation needed to make an investment, including the Prospectus, the Key Investor Information Document (KIID), Key Information Document  (KID)  and the Application Form, is available in English from www.guinnessgi.com or free of charge from the Manager: Waystone Management Company (IE) Limited, 2nd Floor 35 Shelbourne Road, Ballsbridge, Dublin DO4 A4E0, Ireland; or the Promoter and Investment Manager: Guinness Asset Management Ltd, 18 Smith Square, London SW1P 3HZ.

Waystone IE is a company incorporated under the laws of Ireland having its registered office at 35 Shelbourne Rd, Ballsbridge, Dublin, D04 A4E0 Ireland, which is authorised by the Central Bank of Ireland, has appointed Guinness Asset Management Ltd as Investment Manager to this fund, and as Manager has the right to terminate the arrangements made for the marketing of funds in accordance with the UCITS Directive.

Investor Rights
A summary of investor rights in English is available here:https://www.waystone.com/waystone-policies/

Residency
In countries where the Funds are not registered for sale or in any other circumstances where their distribution is not authorised or is unlawful, the Funds should not be distributed to resident Retail Clients. NOTE: THIS INVESTMENT IS NOT FOR SALE TO U.S. PERSONS.

Structure & Regulation
The Funds are sub-funds of Guinness Asset Management Funds PLC, an open-ended umbrella-type investment company, incorporated in Ireland and authorised and supervised by the Central Bank of Ireland, which operates under EU legislation. The Funds have been approved by the Financial Conduct Authority for sale in the UK. If you are in any doubt about the suitability of investing in these Funds, please consult your investment or other professional adviser.

Switzerland
This is an advertising document. The prospectus and KID for Switzerland, the articles of association, and the annual and semi-annual reports can be obtained free of charge from the representative in Switzerland, Reyl & Cie SA, Ru du Rhône 4, 1204 Geneva. The paying agent is Banque Cantonale de Genève, 17 Quai de l'Ile, 1204 Geneva.

WS Guinness Sustainable Energy Fund

Documentation
The documentation needed to make an investment, including the Prospectus, the Key Investor Information Document (KIID) and the Application Form, is available in English from www.waystone.com/our-funds/waystone-fund-services-uk-limited/ or free of charge from Waystone Management (UK) Limited, PO Box 389, Darlington DL1 9UF.

General enquiries: 0345 922 0044

E-Mail: investorservices@linkgroup.co.uk 

Waystone Management (UK) Limited is authorised and regulated by the Financial Conduct Authority.

Residency
In countries where the Fund is not registered for sale or in any other circumstances where its distribution is not authorised or is unlawful, the Fund should not be distributed to resident Retail Clients.

Structure & regulation
The Fund is a sub-fund of WS Guinness Investment Funds, an investment company with variable capital incorporated with limited liability and registered by the Financial Conduct Authority.

Guinness Sustainable Energy UCITS ETF

Documentation
The documentation needed to make an investment, including the Prospectus, the Key Investor Information Document (KIID), Key Information Document (KID) and the Application Form, is available in English from www.guinnessgi.com, www.hanetf.com or free of charge from the Administrator: J.P Morgan Administration Services (Ireland) Limited, 200 Capital Dock, 79 Sir John Rogerson’s Quay, Dublin 2 DO2 F985; or the Investment Manager: Guinness Asset Management Ltd, 18 Smith Square, London SW1P 3HZ.

Residency
In countries where the Fund is not registered for sale or in any other circumstances where its distribution is not authorised or is unlawful, the Fund should not be distributed to resident Retail Clients. NOTE: THIS INVESTMENT IS NOT FOR SALE TO U.S. PERSONS.

Structure & regulation
The Fund is a sub-fund of HANetf ICAV, an Irish collective asset management vehicle umbrella fund with segregated liability between sub-funds which is registered in Ireland by the Central Bank of and authorised under the UCITS Regulations.