bloomberg: http://ift.tt/2yDTfd3
“We don’t see upside,” Thomas Sorensen, who manages the Nordea Global Climate and Environmental Fund, said by phone on Thursday. “What’s needed in cash flow generation to get to the current valuation -- we don’t see that happening.”
“It’s going to be a race to the bottom for the whole industry,” he said. “In this big transition period, it’s very tough to point out the winners and the overall profitability of the sector. The risks are too high.”
Nordea’s 332 million-euro ($390 million) fund, which had previously owned Tesla, now chooses to back suppliers, such as German chipmaker Infineon Technologies AG. And with a proprietary universe of 1,200 companies with a total market capitalization of over 5 trillion euro, the Copenhagen-based fund doesn’t feel it needs to stick to the big names.
Submitted October 02, 2017 at 11:35AM by wanmoar http://ift.tt/2xOi5HU
