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Asia Hedge Funds Pare Bets on Green Energy After 2020 Surge

  • Apeiron Capital sells some Tesla; York cuts solar, EV holdings
  • Funds still like renewables as good long-term investments
Updated on

Asia hedge funds that rode a green investing wave for double-digit returns last year are starting to reduce bets on the sector given the lofty valuations.

Apeiron Capital has cut Tesla Inc. to a small position after the electric vehicle maker’s eight-fold surge sparked a 98% return for the $400 million hedge fund in 2020, said founder Yao Wanyi. York Capital Management also trimmed investments in electric vehicle, battery and solar glass makers, according to Mark He, co-portfolio manager of its $3.4 billion Asia funds.