Triodos Investment Management’s total assets under management grew by EUR 515 million to EUR 5.4 billion, a 10% increase (2019: 18% increase) during the year. Amidst times of global uncertainty due to the COVID-19 pandemic, this marked growth of the overall assets under management was the result of effective mitigating measures as a response to the pandemic and continued confidence among Triodos Investment Management‘s investor base.
Triodos Energy Transition Europe Fund, the fund that invests in small and medium-sized renewable energy projects, increased its assets under management during the year by 26.9% to EUR 152.2 million. Triodos Food Transition Europe Fund, the fund that offers investors the opportunity to participate in the growth of the organic consumer and sustainable lifestyle sector in Europe, grew by 14.9% to EUR 48.4 million.
The Triodos Impact Equities and Bonds Funds (Triodos SICAV l), which invest in listed companies, grew by 21.3% to EUR 2,450.4 million. The assets under management in the discretionary portfolios of Triodos Bank Private Banking Netherlands, which are managed by Triodos Investment Management, decreased by 1.2% to EUR 791.1 million.
Assets under management in the Dutch Triodos Green Fund, the fund that invests in green projects that promote sustainable development, increased by 11.6% to EUR 1,082.0 million.
Triodos Fair Share Fund and Triodos Microfinance Fund, the funds that invest in financial institutions in emerging markets, saw the assets under management decrease by 11.8% and 2.0% to EUR 352.3 million and EUR 444.8 million respectively. The reason for this decrease is a combination of two developments. On the one hand both funds have experienced a value loss on investments due to economies in emerging markets being severely hit by the COVID-19 pandemic, which in turn resulted in lower valuations of some of the equity investments. In addition, for Triodos Fair Share Fund specifically, the pandemic resulted in lower than anticipated returns for the first time since inception, leading to above average outflow by retail investors.
Triodos Multi Impact Fund, the Triodos fund-of-funds, decreased its fund size by 10.4% to EUR 32.0 million by the year end. The net asset value of the SFRE Fund decreased by 2.2% to USD 39.2 million. The 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.