Invesco’s green backers win out

Two funds run by asset manager Invesco that specialise in companies focussing on clean energy provision gave their green backers the strongest returns on offer on the US equity markets last year. The value of both the Invesco Solar Exchange Fund and the Invesco WilderHill Clean Energy ETF more than doubled in value – by 238% and 220% respectively – thanks to a surge in clean energy stocks

Two of the $3.7bn Invesco Solar’s top performers were residential solar power providers Enphase Energy (up 600%) and Sunrun (up 400%). One of Invesco WilderHill’s largest holdings is in power plant designer and developer FuelCell Energy, whose shares almost quadrupled in 2019.

According to the IIF, global funds that hold ESG assets had surged by more than 50% to over $1.3trn since the end 2019, and the trend was accelerating in anticipation of the incoming Biden administration.

Source: FT