30.1 EUR million
as per the
end of 2015
Triodos Organic Growth Fund was launched with an initial fund size of EUR 25.3 million. During its first year of operation, the fund made two investments and set up a Luxembourg holding company and a German partnership to facilitate investment structuring in different European countries. The year 2015 proved to be a difficult year in terms of new investments. Despite a number of concrete deal opportunities investigated and negotiated, the fund was unable to make any new investments in 2015. This was mainly due to increased and more aggressive competition.
The share price development was positive in 2015, due to positive developments in the portfolio. The Q-share class for institutional, professional and qualified investors realised a positive return of 3.1% in 2015. This exceeds expectations as, during the ramp-up phase of the portfolio, 61.0% of the total assets of the fund is held in cash and cash equivalents on which return at this point in time is minimal due to historically low interest rates. Income and value creation in the fund’s portfolio exceeded its running costs, resulting in a positive return from operations of EUR 0.9 million in 2015. Due to these positive overall returns on the portfolio, as well as new capital flowing into the fund (EUR 0.8 million during the year), the fund’s net assets increased by EUR 1.7 million to EUR 30.1 million as per the end of 2015. Despite the increased competition, the fund aims to complete three to four new investments in 2016.