ESG fund trounces peers helped by bold bet on defense stocks
An ESG fund run by Alken Asset Management has outperformed 98% of its peers over the past year, helped by a bet on European defense stocks while they were still cheap.
By Lisa Pham / BLOOMBERG
The Alken Fund Sustainable Europe (ALCSEU1 LX) is up about 9% in the period, compared with an average drop of roughly 9% among similar funds, according to data compiled by Bloomberg. Aside from defense, which represents about 8% of the portfolio, the fund’s gains were driven by its exposure to energy and raw materials.
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