DGAP-News: Encavis Asset Management AG / Key word(s): Funds/Market launch
The funds' objective is to compile a stable long-term investment portfolio through technological diversification (onshore wind and solar) within Europe. Currency risks are excluded, investments are made exclusively in euros. The target fund volume totals 500 million euros. Other key features of the new fund are: Rising annual distribution of around 5% on average over 25 years of fund duration. Risk weight/RWA ratio under CRR II at around 100%, maximum transparency and option to look through to operating companies.
Against the backdrop of ongoing high demand from institutional investors for sustainable investments, particularly in the field of Renewable Energies, Encavis AM and BayernLB also anticipate a rapid placement process for this fund.
The fund volume of the first special fund set up by Encavis AM and BayernLB, the EIF II, had to be doubled from EUR 200 million to EUR 400 million within a very short period of time due to the high demand and was closed with maximum utilisation of the green shoe at EUR 480 million in December 2020. A total of 55 savings banks and cooperative banks from all over Germany ensured an investment volume of over 1 billion euros with their investment and are thus pleased to improve the green footprint (with a positive ecological effect) in their A-deposits.
As for the EIF II, Encavis AM is again - as advisor - responsible for the selection, auditing and management of the solar and wind farms for the new EIF IV. BayernInvest Luxembourg S.A., as AIFM, is responsible for the fund management and considers, among other things, the increasingly important sustainability reporting requirements. BayernLB is responsible for fund distribution and investor support throughout the life of the fund. BayernLB also provides support in resolving regulatory issues, acts as a link to the associations and provides effective interfaces to all service providers.
About Encavis Asset Management AG
Encavis Asset Management AG offers institutional investors tailor-made portfolios and fund solutions for investments in the growth market of Renewable Energies. The Company has been successfully investing in this sector since 2006, covering the entire value chain from asset sourcing to the operational management of investments.
As a focused specialist bank, BayernLB is an important investment financier for the Bavarian and German economy. It is committed to progress. Its customers - corporates, savings banks, institutional investors and the public sector - are at the heart of its sustainable activities.
In its corporate customer business, BayernLB focuses on sectors of the future, such as mobility, energy, technology, construction and basic materials, mechanical and plant engineering. The bank supports companies from these sectors in particular in successfully developing their business models. As a real estate financier, the Group offers 360-degree expertise across the entire value chain in the real estate business - and in numerous asset classes. BayernLB is the central bank of the savings banks in Bavaria and has been a proven partner to savings banks in Bavaria and throughout Germany for decades. As a TechBank, the Group subsidiary DKB offers its more than 4.5 million customers an outstanding customer experience and excellent digital solutions. BayernLB is owned by the Free State of Bavaria and the Association of Bavarian Savings Banks.
Since 1991 we have been successfully active in the mutual and special funds business in the financial center of Luxembourg. With a volume of 100 billion euros under management in special and public funds as well as institutional asset management mandates (as of 28.02.2021), the BayernInvest Group is one of the ten largest German capital management companies. We see ourselves as a service provider offering specialised and customised investment products (UCITS and AIF) in Germany and abroad. Customer orientation and customer satisfaction are our highest standards. Service and quality orientation are a matter of course for us.
29.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.