A Clean-Energy Fund Manager Is Betting on Chips to Beat Market
- Pictet manager says semiconductor valuations still attractive
- Chollet sees AI, EV as growth drivers; added to Tesla in 2022
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Xavier Chollet runs a clean-energy fund that’s beating the market with bets that might not be immediately associated with green investing: Semiconductors.
The $5.3 billion Pictet Clean Energy Transition fund, which holds the likes of Tesla Inc. and Vestas Wind Systems A/S, has almost a third of its assets in chip companies, focused on those that make devices that minimize energy loss when electricity is used. Chollet’s top holdings include ON Semiconductor Corp., Marvell Technology Inc. and NXP Semiconductors NV.