The Luxembourg-domiciled fund is benchmarked against the MSCI Energy index, and is open to both retail and institutional investors.
It focuses on oil, gas, coal, renewables and other energy sources, and at least 75% of its capital will be invested in listed companies. It has the flexibility to invest up to 10% in unlisted companies. It can also invest in other funds such as ETFs.
It is managed by Richard Robinson, who also heads up the firm’s European Equity Fund, while Alan Le Maistre has been named co-manager.
The Ashburton European Equity Fund has around €62m under management, of which 72% is invested in European ex UK equities. The basic materials sector accounts for just over a third of its capital, 35%, while 16% is invested in both industrials and financials. Its performance over the past year is shown in the graph below.
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A couple of weeks ago the firm unveiled its first Ucits offering, the Ashburton Africa Equities Opportunities Fund, which invests in undervalued listed African equities (ex South Africa).
