The ACT Australian CleanTech Index rose in April 2014 and outperformed the Small Ordinaries although underperformed against the ASX200 Index.
The ACT Australian CleanTech Index rose from 37.9 to 38.0 over the month of April recording a 0.4 per cent gain. This compared to the S&P ASX200 gain of 1.7 per cent and the S&P ASX Small Ordinaries Index loss of 1.3 per cent. The Australian CleanTech 20 recorded a slightly better result with a gain of 0.5 per cent.
While the performance over the month and the last three months is now behind the wider market, the six and 12-month figures continue to show good outperformance. Over the last 12 months it is running 10.5 per cent ahead of the ASX200.
The best performing sub-indices for the month were the ACT Water Index which was unchanged and the ACT Waste Index with a loss of just 0.9 per cent.
The two weakest sub-indices through April were the ACT Biofuels Index (as usual!) which recorded a loss of 15.7 per cent and the ACT Environmental Services Index recording a loss of 15.3 per cent.
The overall index performance was driven by solid 5 per cent gains from both Meridian Energy and Mighty River Power as the New Zealand hydro sector bailed out the poor performance on this side of the Tasman.
The market capitalisation of the 64 stocks in the ACT Australian CleanTech Index is $14.7 billion falling from its peak of $16.3 billion in July 2007 but up from its low of $6.2 billion in July 2012.
In addition to the NZ hydro gains, the month’s performance was driven by 10 companies with gains of more than 10 per cent. The greatest gains were recorded by Water Resources Group (WRG), Carbon Conscious (CCF) and Pacific Environment (PEH).
These gains were partially offset by 15 companies recording losses of more than 15 per cent led by Soil Sub Technologies (SOI), Solco (SOO) and Actinogen (ACW).
These best and worst performers are shown in the table below.
The ACT Australian Cleantech Index is published each month on the Australian CleanTech website at www.auscleantech.com.au, in the Ethical Investor magazine, WME’s Environmental Management News, the Clean Energy Council website, the SIM Venture Securities Exchange website and the London-based Cleantech Investor.
Monthly results can be emailed directly to interested parties by signing up to the distribution list at http://www.auscleantech.com.au/Pages/cleantech.html.