The fund was closed for trading after the cut-off at 3 PM on Tuesday, January 23, 2024, and an application was sent to the Financial Supervisory Authority. The closure of the fund for trading is in accordance with the applicable rules for the closure of securities funds.
Delphi Green Trends is a fossil-free equity fund that aims to achieve long-term excess returns by investing in stocks globally, including emerging markets, with a particular focus on themes such as renewable energy, circular economy, green buildings and infrastructure, green mobility, or sustainable ecosystems and agriculture. The fund was established on December 28, 2020, but is now being closed due to lack of investor interest and weak returns since inception.
Storebrand Asset Management continues Trend/Momentum management under the Delphi brand, while portfolio manager in Delphi Green Trends, Ivar Harstveit, will continue as part of the portfolio team in Delphi and contribute to strengthening the management of the global equity fund Delphi Global.
Storebrand Asset Management wishes to concentrate our product offering of Delphi funds. However, our focus on sustainable investments continues with undiminished strength, and for customers who want exposure to themes such as renewable energy, future cities, circular economy, or equal opportunities, we have products such as Storebrand Global Solutions, Storebrand Smart Cities, and Storebrand Equal Opportunities.
The Norwegian FSA approved the liquidation of Delphi Green Trends on January 26th, and the expected liquidation date is February 7th with payouts to customers occurring in the following days.