World Carbon Fund up 10.13 per cent in June
Last month, most carbon markets experienced strong performance, with the EUA market rising 9 per cent and the CCA and RGGI markets gaining 10.8 per cent and 7.5 per cent respectively while the newly launched UK carbon market lost 4 per cent in June after making a strong debut in May.
Carbon Cap Management's World Carbon Fund delivered 10.13 per cent in June taking YTD performance to over 10 per cent.
The aim of the Fund is to generate absolute returns with a low correlation to other asset classes whilst making a direct impact on climate change.
The returns were driven by strong performance in the “Core Long” book, where we captured gains in the EUA, CCA and RGGI markets whilst minimising losses in the UKA. The book continues to be tactically positioned with an overweight allocation to the two USA carbon markets and an underweight allocation in the EUA and UKA carbon markets.