2024 October update
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Here is the market capitalisation of the index as of 20th October 2024:
| Market cap (mil.) | Market ratio | |
|---|---|---|
| LON:AERS | £205.70 | 2.05% |
| LON:ATOM | £33.87 | 0.34% |
| LON:BSIF | £634.46 | 6.34% |
| LON:CPH2 | £24.76 | 0.25% |
| LON:CWR | £446.34 | 4.46% |
| LON:FSFL | £500.13 | 5.00% |
| LON:GOOD | £48.80 | 0.49% |
| LON:GRID | £280.83 | 2.81% |
| LON:GSF | £287.40 | 2.87% |
| LON:HEIT | £114.13 | 1.14% |
| LON:HGEN | £46.25 | 0.46% |
| LON:ITM | £269.05 | 2.69% |
| LON:FGEN | £564.31 | 5.64% |
| LON:NESF | £451.26 | 4.51% |
| LON:ORIT | £433.14 | 4.33% |
| LON:PODP | £24.94 | 0.25% |
| LON:ROOF | £115.71 | 1.16% |
| LON:TRIG | £2,453.00 | 24.51% |
| LON:UKW | £3,075.79 | 30.73% |
| Total | £10,009.86 | 100.0% |
The current (very rough) composition of the index by investment type is: 53.32% wind, 22.50% solar, 9.44% storage, 6.31% hydrogen, 0.70% distribution, 7.72% other. I’ve calculated this by having a look at what the companies say they invest in: mostly looking at any portfolio pie charts that they have in their annual reports. Since the previous post, I’ve gone and had a closer look so these values are more accurate now.
For comparison, this is how the index looked like three months ago on 19th of July 2024:
| Market cap (mil.) | Market ratio | |
|---|---|---|
| LON:ATOM | £26.41 | 0.26% |
| LON:BSIF | £650.47 | 6.38% |
| LON:CWR | £386.08 | 3.78% |
| LON:FSFL | £517.82 | 5.08% |
| LON:GOOD | £54.64 | 0.54% |
| LON:GRID | £398.34 | 3.91% |
| LON:GSF | £308.11 | 3.02% |
| LON:HEIT | £121.74 | 1.19% |
| LON:HGEN | £67.89 | 0.67% |
| LON:ITM | £323.91 | 3.18% |
| LON:JLEN | £602.65 | 5.91% |
| LON:NESF | £486.74 | 4.77% |
| LON:ORIT | £420.92 | 4.13% |
| LON:ROOF | £104.10 | 1.02% |
| LON:TRIG | £2,519.94 | 24.70% |
| LON:UKW | £3,210.93 | 31.48% |
| Total | £10,200.71 | 100.0% |
The hypothetical portfolio of £10,000 that I started in April 2023 would now be worth £8,182.05 including dividends.
Additions & Removals
I’ve found out about more green companies from the London Stock Exchange’s Green Economy Mark Report 2024. I haven’t finished looking at it, but I have found two more companies that I wanted to add to the index. As I announced when starting this blog, I will add more companies when I find out about them and when I think they fit with the index objective. So I’ve added:
AERS - Acquila European Renewables plc. with a market capitalisation of £205m. They mostly invest in renewable energy generation across Europe. Their current portfolio is Wind, Solar and (one) Hydroelectric plant.
CP2H - This is a Hydrogen technology provider. They’re quite loud about green hydrogen on their website, having this in block letters, so I think they fit in with this portfolio: Green hydrogen is the only type of hydrogen that can lead to a cleaner environment. . It’s a small company compared to the rest in the index with a market cap of £24m.
PODP - this was another find, they are an EV charging technology provider. Market cap is currently £24.94m.
JLEN changed ticker and name to FGEN / Foresight 16 sept JLEN Environmental Assets Group Limited to Foresight Environmental Infrastructure Limited
No company has been removed from the index, but ROOF will take itself off the stock market sometime in spring. As I read it, they found it hard to raise additional funds to invest in new assets given the current investment landscape so they found a buyer instead. There was about a 20% bump on the day of the news. It’s back to its April 2024 prices. I am keeping it in the index as there will be another dividend distribution this year. Its market cap is £115m and it represents 1.15% of the index.
Performance
The performance for the past quarter was still bad. From £8,400 at the end of July to £8,182 now, including dividends. That’s a 2.6% drop over the quarter or 10% annualised.