renewable energy funds suffered outflows record this year reversing its direction from 2009

renewable energy funds suffered outflows record this year reversing its direction from 2009, as money managers like BlackRock Inc. said the credit crisis dimmed the outlook for solar energy projects and wind energy.

Investors took € 931 million ($ 1.2 million) in the first 10 months, eclipsing the withdrawal of the entire year in 2008, when the global financial crisis spooked investors, according to data compiled by Lipper Inc. The past year clean energy funds captured € 1300000000 new money, Lipper said.

More stringent conditions for loans for clean energy projects, increased competition from Chinese manufacturers and the reduction of subsidies from European governments beaten some of the stocks that were the favorites of fund managers by 2010, as Vestas Wind Systems A / S, the world's largest wind turbine manufacturer. The funds that held oil and gas companies were winners, an independent survey said.

"The actions of the new energy markets and related is significantly affected by the credit crisis," said Robin Batchelor, manager of the $ 2900000000 BlackRock New Energy Fund, in an e-mail. Lower demand for energy and "the fact that governments are perceived as many new concerns in their agenda combined to create a difficult environment," he said. New York, BlackRock is the world's largest money manager.

conventional energy stocks saw the largest increase in farms and were the biggest gamble of funds, according to a survey by Bank of America Merrill Lynch of 209 fund managers control of 569 billion, took place December 3 to December 9 .

Environmental Funds

Clean energy settlement is a blow to the politicians in the U.S., Japan and the European Union pledged last year in Copenhagen at the ramp of the investment, and that will channel $ 100 billion a year in aid of climate for developing countries in 2020.

Extended to the withdrawal of environmental funds, net withdrawals of 373 million euros, also a record, according to Lipper, a subsidiary of New York, Thomson Reuters Corp.

At BlackRock, as clean technology fund is one of the world's largest asset was reduced to $ 2,900,000,000 October 31 $ 3,800,000,000 12 months earlier, and the fund's value fell by 8 percent. That suggests that clients pulled about 560 million euros, or 15 percent of assets.
A BlackRock spokesman did not immediately comment on the calculation. Batchelor refused to comment on the outputs.

Climate negotiators meeting in Cancun, Mexico, signed an agreement to limit global warming to 2 degrees Celsius (3.6 degrees Fahrenheit) without reaching an agreement on how. current commitments of individual nations are within 4 degrees of warming by 2100, according to climate scientists interactive model warming scenarios.

The best, worst results

"There was a positive step, but without the urgency or the scale needed to achieve the target of 2 degrees," said Peter Sweatman, Executive Director of Climate Strategy & Partners, a consulting firm based in Madrid. "The warning lights are flashing red."

The worst performing fund of energy and the environment clean in the Lipper database that follows the return of individual pools Azem Hornet Renewable Energy Asset Management AG II, which lost 24 percent in the 12 months to 30 September investing in stocks such as SMA Solar Technology AG and Meyer Burger Technology AG. The best performance was that of Jupiter Environmental Income Fund, managed by Christopher Watt, who won 18 percent. Watt did not immediately respond to requests for telephone and email for comment.

183 Tracked Funds

This year's sell-off reduced the total money invested for 183 renewable energy and environmental funds Lipper tracks to € 12100000000 13.4 million euros at the end of last year.

U.S. investment fell this year amid investor doubts about the government's energy policy, while the sovereign debt crisis has limited growth prospects in Europe. The governments of Germany, Spain and Italy, reduced subsidies for solar panels.

The industry is "exhausted," said Thiemo Lang, director of 510 million euros the Group Holding AG SAM Smart Energy Fund. "There are price pressures, there are concerns about reducing the incentives and there are concerns about the ability of the new production will lead to an oversupply."

Luxembourg-based fund Lang, whose share price fell 6.6 percent in the first 10 months, has attracted new investments of more than 70 million euros this year.