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Alternative Market Briefing

Proxy Renewable Long / Short Energy Fund outperforms, more than doubles AUM in 2019

Thursday, February 13, 2020

Bailey McCann, Opalesque New York for New Managers:

Swedish energy-focused asset manager Proxy P Management AB has more than doubled its AUM in one year as a result of significant outperformance in its long/short renewable energy fund. Proxy Renewable Long / Short Energy is a thematic fund focused on the transition to renewable energy.

The strategy launched at the end of 2018 with $6 million in friends and family money and now sits at approximately $22 million.

Portfolio manager Dan Lindstrom tells Opalesque New Managers the growth has been the result of a combination of strong performance and a realization on the part of investors that the energy transition is real and that there are significant investment opportunities.

"The energy transition is the primary growth story in the energy sector," Lindstrom says. "There's a sense among investors that they don't want to miss out on where the sector is going."

The fund ended 2019 up 45.86% and is up 2.37% through January 31.

According to Lindstrom, there are many ways to play the energy transition theme ranging from new technologies to finding value stocks to shorting companies that are part of the transition but are already falling behind. "Our shorts are true shorts," Lindstrom says. "If you look at solar for example, there are longs and shorts within that part of the market. Both of them are working for us." Lindstr......................

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