Fund of the week: a good time to go green

Managers of 'green' funds sometimes seem more interested in jumping on the green bandwagon than in the performance of the fund itself. This fund is a notable exception.

When fund managers launch 'green' funds, they can sometimes seem more interested in the marketing opportunities to be gained by jumping on the green bandwagon than in the performance of the fund itself. The Blackrock New Energy Investment Trust (LSE: BRNE) is a notable exception. It's up 67.96% over five years, against a 33.8% rise for its nearest rival, Impax Environmental Markets.

Robin Batchelor and Poppy Allonby, who have managed the fund since launch in February 2000, invest the fund's assets in new energy companies. That's green-investment-speak for firms focused on alternative energy technologies such as renewable energy, alternative fuels and energy storage. Up to 25% of the fund's holdings can be held in unquoted firms, enabling retail investors to get exposure to areas that would normally be closed

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