West Palm Beach (HedgeCo.net) – Alternative investment manager and advisor, Climate Change Capital, (CCC) has been appointed to manage a climate change fund for Dublin-domiciled UCITS platform, Russell OpenWorld.

The Global Climate Change Fund will be managed by Climate Change Capital’s Global Equities’ team of Paul Udall and Ronnie Lim.

The new fund will invest globally in sectors impacted by climate change. Udall and Lim, both Managing Directors at Climate Change Capital together have over 30 years’ investment experience, and over 12 years’ experience in managing specialist environmental equities. Prior to joining Climate Change Capital in 2007, both worked in the Sustainable Investment team at Morley Fund Management (now Aviva Global Investors), a top-ranked Socially Responsible Investing team.

“Climate Change Capital is uniquely positioned globally as an investment firm to benefit from the significant investment opportunities that exist in climate change,” Shaun Mays, Chief Executive Officer at CCC, said, “Russell has a highly-regarded research and due diligence process, and we are pleased to be selected as the manager for one of their specialist, thematic funds.”

The fund aims to provide significant excess returns above global equity markets by investing in a manager that takes high conviction active positions in companies that are affected by climate change. This is a relatively new area of investing, enabling investors to add an innovative and differentiated return stream to their portfolios.

With over US $1.5 billion under management as of April 2009, Climate Change Capital aims to provide attractive returns to investors, demonstrating the financial opportunity associated with the low carbon economy.

Alex Akesson
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Tags: alternative investment, carbon economy, chief executive officer, global equity markets, investment experience, investment team, investment-firm, sustainable investment

Business Standard – Spooked by increasing performance losses and record investor redemptions, the global hedge fund industry saw net outflows worth $158.91 billion in the fourth quarter of calendar year 2008, the highest level since 1994.

According to a report by fund tracking firm Lipper, global hedge fund assets are estimated to have decreased from $1.5 trillion in September to $1.29 trillion at the end of December 2008.

All hedge fund sub-strategies posted negative money flows (outflows) in the three-month period with cumulative net outflows in 2008 as the industry witnessed a collapse in global equity markets, liquidity issues and failure of a number of key institutions.

In absolute terms, the performance of Credit Suisse/Tremont hedge fund index in Q4 2008 registered -10.21 per cent, the second worst quarterly performance since the start of the index. The index had posted 10.33 per cent negative returns during the third quarter. "A majority of hedge fund managers were hit by panic selling and deleveraging that followed, combined with changes in broker requirements and the enforcement of a ban on short selling in certain financial stocks," said the Lipper report.

In US dollar terms, the largest hedge fund sub-strategy outflows were experienced by long/short equity at $42.52 billion.

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Tags: absolute terms, collapse, credit-suisse, dollar terms, financial stocks, fourth-quarter, fund-assets, global equity markets, global hedge fund, hedge-fund-index, hedge-fund-managers, lipper, liquidity, long short equity, performance losses, q4, quarterly performance, redemptions, tremont-hedge-fund-index, trillion