BASIC INFORMATION:
Fund structure: open ended qualifiedinvestorsfund
ISIN: CZ0008474053
Inception: 29thJanuary2013
AUM: 32,804 mil.EUR
Strategy capacity: 170mil.EUR
Base currencyshare class: EUR
Available currencyshare classes: EUR, CZK
Administrator: REDSIDEinvestiční společnost,a.s.
Custodian: UniCreditBankCzech RepublicandSlovakia,a.s.
Investment Advisor: ArcaCapitalSlovakia,a.s.
Minimum Initialsubscription: EUR 125,000
Additionalsubscription: EUR 10000
Dealing day: Firstworkingdayinamonth
Subscriptions: monthly
Redemptions: Quarterly,90daysperiod ofnotice
Lock-up period: 12months
Target return: 8-9%p.a.netoffees
PERFORMANCE:as of January, 31st 2015:
NAV 32 804 312 €
YTD RETURN 0.64% p.a.
Volatility 0.64%
Sharpe Ratio 8.45
FEES
Up-front Fee: max.2%(over250000notapplied)
Management Fee: 1.95%
Performance Fee:30%over10%threshold
NOVAGreenEnergy,Open-EndedFundofREDSIDEinvestičníspolečnost,a.s.
EURdenominated/Priceasof31thofjanuary2015EUR0,1098 pershare
INVESTMENT INSTRUMENTS:
equity,subordinateddebt
INVESTMENT GOAL:
Togeneratestableandsustainableaboveaveragereturnviainvestmentsintorenewableenergyprojectswithlongtermpowerpurchasecontracts,usingreliabletechnologyandstrongsupplierguarantees
REGIONAL FOCUS:
CentralandEasternEurope
PRIMARY INVESTMENT FOCUS
Renewableenergyprojects
-photovoltaicplants
-windfarms
-smallhydroplants
-waste-to-energy
-electricityandheatcogeneration
-biogasplants
-biomassplants
JANUARy2015
FUNDwww.novagreenenergy.eu
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MANAGER COMMENTARY AS 31th OF JANUARY 2015
PORTFOLIO:
TheFund’sperformanceforJanuary2015showedapositivemonth-to-monthincreaseby+0.64%.ThepositivedifferencebetweentheDecemberandJanuary’sperformancecanbeattributed,amongotherthings,tothefact,thatDecember’sresultwereaffectedbythecostsassociatedwiththechangeofcustodianbankandthefundadministrator.Inasituationwherethefundisstillinastageoffulfillment,itisaverygoodoutcome.
Thefund’sportfoliointhecomingdayswillgrowbyanadditional5.5MWsolarpowerplantintheSlovakRepublic.Inthecomingmonths,theplanned
acquisitionsofsixbiogaspowerplantswithatotaloutputof6MWandhydroandsolarpowerplantsintheCEEregionwilltakeplace.
INVESTORS:
InvestmentbankinggroupJ&TinvestedintothefundinDecember.SaleofthesharessuccessfullycontinuedinJanuaryamongretailclients.NegotiationsareongoingwithinstitutionalclientsintheCzechandSlovakRepublicsaswellaswithpartnernetworksandpartnerorganizations.ExtensionofthepossibilityofinvestingintheCzechcrownisconsideredbeingamajorplus.
Theregistrationfortheshares’salesinAustriashouldbeterminatedinthefirstquarteroftheyear.
ExPECTATIONS FOR 2015:
TheFund’sobjectivesaretocontinueinachievingtheplannedyieldsabovethelevelofbankdeposits;tohavetheFund’sNAVincreasedto80millionEURandtokeepahighqualityoftheshares’portfolios.
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Rudolf VřešťálBoDChairman
+420222500757
Ing. Juraj DvořákInvestmentCommitteeChairman
+421905666369
DISCLAIMER
REDSIDE investiční společnost, a.s.VCelnici1031/411000Praha1
+420222500757www.redside.cz
CONTACT DETAILS DEALING
www.novagreenenergy.eu
Source:Thismaterialisconfidentialandisintendedsolelyfortheuseofthepersonorpersonstowhomitisgivenorsentandmaynotbereproduced,copiedorgiven,inwholeorinpart,toanyotherperson.
Itisaimedatsophisticated,professional,eligible,institutionaland/orqualifiedinvestorswhohavetheknowledgeandfinancialsophisticationtounderstandandbeartherisksassociatedwiththeinvestmentsdescribedherein.
Nothingcontainedhereinconstitutesinvestment,legal,taxorotheradvicenorisittobesolelyreliedoninmakinganinvestmentorotherdecision.Itisnotaninvitationtosubscribeandisbywayofinformationonly.Sharesarenotavailableforsaleinanystateorjurisdictioninwhichsuchsalewouldbeprohibited.Investorsshouldonlyrelyonthefund’sofferingdocumentswhenmakingadecisiononwhethertoinvestinthefund.
ThepriceofSharesmaygodownaswellasupandthepricewilldependonfluctuationsinfinancialmarketsoutsideNOVAfund’scontrol,asaresultaninvestormaynotgetbacktheamountinvested.Pastperformanceisnotindicativeoffutureperformance.
Referencetoasecurityisnotarecommendationtobuyorsellthatsecurity.Holdingsandallocationsaresubjecttochange.PricesquotedrefertoaccumulationSharesunlessotherwisestated.Historicdatamaybesubjecttorestatementfromtimetotime.
FUND PERFORMACE - CUMULATIVE AS OF 7/2013 – NOT ANNUALIzED
13.00% 12.00% 11.00% 10.00% 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% July Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Jan 2013 2014 2015
FUND PERFORMANCE *
year Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec yearly **
2013 - - - - - 0.0991 0.1001 0.1011 0.1017 0.1020 0.1025 0.1029 share price € 2014 0.1033 0.1037 0.1042 0.1048 0.105 0.1059 0.1065 0.1071 0.1078 0.1081 0.1088 0.1091*** 2015 0.1098 - - - - - - - - - - -
2013 - - - - - - 1.01% 1.00% 0.59% 0.29% 0.49% 0.49% 7.67% performance % 2014 0.39% 0.39% 0.48% 0.58% 0.57% 0.47% 0.57% 0.56% 0.65% 0.28% 0.65% 0.91% 6.50% 2015 0.64% - - - - - - - - - - - n.a.* net of Sponzor and Investment manager fees** annualized performance*** december final Figures
www.novagreenenergy.eu
Energy Union: the EU won’t get rid of reducingemissions and becoming green
Longrowsofsolarpanelshavebecomeaninterestinginvestmentagain.Bytheendofthelastyear,theinterestinpurchasingthepowerplantsbuiltduringthesolarboomfrom2009to2010hasbeenincreasing.Thepurchasers’groupincludesalsomorefamousnames–e.g.PražskáenergetikaorJ&Tgroup.Evenifthepurchasers’motivationsdiffer,theyoftenwanttodeposittheirmoneyrelativelysafely,expectingitsrevaluationby7%ayear.
The“Pražskáenergetika”company(PRE)hasbeenpurchasingfinishedphotovoltaicpowerplantsforalreadyfouryears.PRE’sassetsalreadyincludesolarpowerplantswithatotalcapacityofalmost19Megawatts,havingthuspenetratedthetenlargestownersofthosepowersourcesintheCzechRepublic.PREdoesnothidetheireffortstofindanotherinvestmentopportunityintherenewable-powerengineeringarea.Onthethefourthandmostprobablythelastpowerplant
foritsfundofqualifiedinvestorslastautumn.J&TFVEclosed-endmutualfundcurrentlyownsphotovoltaicpanelswithatotalpower-outputcapacityof16.2Megawatts.
(TakenandeditedfromtheEkonomweeklymagazine,issuedon15/01/2015).
SOLAR BUSINESS hAS BEEN CONCENTRATINGThe investing into photovoltaics (PV) has been reviving at the moment.Larger capital-stock companies have been purchasing power plants from the businessmen who built them more than four years ago.
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AdraftofestablishingtheEnergyUnionshallcomeupintwoweekstohelptheEUbettersupportitscomplexgeopoliticalsituationandrecognisetheworldeconomiccompetition.TheVice-PresidentoftheEuropeanCommission,MarošŠefčovič,wantstoprepareanewstrategyby25thFebruary.ThedocumentwillfirstbecommentedbyleadersofEUMemberStatesduringtheEUsummittakingplacethisMarch.TheEnergyUniondoesnotjusthavetostandongaspipelines,oilpipelinesandsearchingfornewenergysources.AccordingtotheCommission,EUMemberStateshavetoimprovetheircooperationalsointransportation,agriculture, businessor scienceto consequentlyincreaseenergysafety.
It will be easier going together.
“ItwouldbemoreaccurateifthenameofthiskeyEuropeanprojectwasthe“EnergyandClimateUnion”oreventhe“ClimateandEnergyUnion”,remindstheinfluentialBrussels’sblogger,AliceStollmeyer,mentioningthefactthatmoreover,theEuropeanEnergyPolicyisinseparablyconnectedtofightingagainstclimatechanges.Onherblog,shepublishedadocumentthatsupposedlyhadescapedfromtheCommissionandthatcontainedbasicpointsoftheprepareddraft.ThepapershowsthatoneofthemainreasonswhytheEUneedsitsEnergyUnionisjusttheClimatePolicythattheEUhasintensivelyfocusedoninrecentyears.“Europehasn’tgot
Basic features of the European Energy Union are beginning to show up. The Commissiontries to interconnect safety of deliveries with reducing the electricity consumption usingrenewable sources. Nevertheless, the EU needs a fully-working energy market for that reason,and also an injection to its research and innovations. Moreover, it still has to rememberviability of its economics and companies. What foundations will the Energy Union stand on?
anyotherchoice.Andifitwantstocontinueinitsexistingorientation,itwillhavetofaceeconomic,socialandenvironmentalcostsproducedbybeingdividedtolocalnationalpower-producingmarkets.Thiswillalsoemphasisethechallengesbroughtbytransitionstothelow-carboneconomics“,asitisreportedlywritteninthepaperthathasleaked. Five pillars of the Energy Union
Lastweek,ŠefčovičintroducedabasicideatooutlinewheretheEUshouldfocusitsEnergyUnion.HediscussedthatonWednesdaywithotherCommissionersinBrussels,andthenonFridaywiththeMinisters,headsofpower-producingcompaniesandrepresentativesofnon-profitorganisationsattheConferenceinRiga,Latvia.His“subordinated”EnergyandClimateCommissioner,MiguelAriasCañete,alsogaveaspeechthere.
(Takenfromwww.euractiv.cz).
