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Asia Hedge Funds Pare Bets on Green Energy After 2020 Surge
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Asia hedge funds that rode a green investing wave for double-digit returns last year are starting to reduce bets on the sector given the lofty valuations.
Apeiron Capital has cut Tesla Inc. to a small position after the electric vehicle maker’s eight-fold surge sparked a 98% return for the $400 million hedge fund in 2020, said founder Yao Wanyi. York Capital Management also trimmed investments in electric vehicle, battery and solar glass makers, according to Mark He, co-portfolio manager of its $3.4 billion Asia funds.
“Clean energy remains one of the most important investment themes for years to come, it’s just that it ran a bit too much last year,” said He, adding the firm may buy the dips later. Read More…
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tags:
Green Energy