Zurich, Switzerland-based Systematic Absolute Return is looking to add to its six-month old Environmental Fund portfolio.
The firm said it performed one onsite visit with an equity-market neutral manager in June and two managers representing four environmental hedge funds visited its offices.
“We are particularly excited about one of these managers who invests in agricultural land and will be moving forward with due diligence on this manager shortly,” the firm said. “Currently, our universe of environmental hedge funds contains 58 separate funds, excluding six closed hedge funds.”
The Environmental fund of funds was almost flat in June, losing an estimated 0.23% and bringing its year-to-date loss to 0.71%.
“Despite ongoing financial turmoil and the tightening of purses in many sectors, environmental companies continue to experience very considerable investment, with investment in green power hitting $148 billion in 2007, up 60% from 2006, according to the U.N. Environment Programme,” the firm said.
“Indeed, the programmes recently published Global Trends in Sustainable Energy Investment 2008 report also forecasts that by 2012 about $450 billion will be spent each year on green energy projects, climbing to more than $600 billion from 2020. We therefore remain very confident that our Cleantech/Renewable energy investments are set for long term outperformance.”