klimaVest In black and white

WKN
KLV100
ISIN
LU2183939003
Fund launch
28/10/2020
Type of fund
European Long-Term Investment Fund (ELTIF)
€ 113,59
Price/current issue price¹³ (updated daily)
€ 108,18
Price/Current redemption price¹³ (updated daily)
4.1 %
Performance (30/04/23 - 30/04/24)²
43
Assets³
€ 1.3 billion
fund volume (updated daily)
1 of 7⁴
Risk class

Fund fact sheet - English Version

Download

Product brochure - German Version

Download

Stable growth since inception

klimaVest has achieved its annual target return since the fund was launched and has proven to be a reliable investment, particularly in turbulent times on the capital market, which contributes to the stability of investors’ portfolios.²

Source: Commerz Real Fund Management S.à r.l.

Period (dd/mm/yyyy) For the investor (net)⁸ For the investor (gross)² 
 28/10/2020-30/04/2021 - 3.4%   + 1.5%
 30/04/2021-30/04/2022 + 3.3%   + 3.3%
  30/04/2022-30/04/2023 + 3.3%   + 3.3%
 30/04/2023-30/04/2024 + 4.1%  + 4.1%

Important: Past performance is not indicative of future returns. Reporting period from fund launch on 28/10/2020 to 31/05/2023²

klimaVest:
  Die Grafik zeigt die Fonds-Wertentwicklung in netto und brutto an.
The klimaVest portfolio structure

Diversification in action

klimaVest: Grafik
  der klimaVest Assets in Europa aufgeteilt nach Ländern. Die Länder mit Asset
  Standorten sind grün hinterlegt.

Geographical distribution

5 countries, 42 locations³

klimaVest currently has assets in 5 EU countries at a total of 42 locations³. In the long term, the fund strategy envisages an even broader geographical distribution across economically stable locations throughout Europe³.

This will enable individual investment risks to be spread even more efficiently in the future and, at the same time, return opportunities to be better utilised. In addition, the aim of expanding the portfolio is to expand renewable energies – thus benefiting a sustainable, future-proof energy industry.

Renewable energy

Balance in usage types

klimaVest currently focuses primarily on wind power and photovoltaics as forms of renewable energy generation. In order to achieve constant yields despite seasonal fluctuations, the klimaVest assets are distributed across the wind and solar power sectors in a balanced way. 

By financing project developments that are still in the construction phase, new photovoltaic and wind power plants are equipped with state-of-the-art technology. This allows maintenance and servicing costs to be kept low in advance and the chances of future value increases or sales of the assets to be increased.

Ein Wind- und Solarpark bei strahlend blauem Himmel

Breakdown of solar and wind in the klimaVest portfolio⁵

As at: 30/04/2024

Breakdown of existing assets and project developments³ in the klimaVest portfolio

As at: 30/04/2024
As at: 30/04/2024

Mix in compensation structures

The spread across different remuneration structures also contributes to balanced planning certainty. Power purchase agreements (PPAs) are fixed power purchase agreements, usually for 10 years (or more). They offer higher initial returns and also have contractually agreed electricity purchase prices.

Many of the world’s most influential companies have committed to using electricity exclusively from renewable energy sources. Purchasers of electricity from klimaVest assets include Google and Shell.

The German Renewable Energies Act (EEG) offers more flexibility: the more electricity from renewable energy is fed into the grid, the more conventional electricity is displaced. As a result, the market share of renewable energies increases.

System manufacturers and operations managers – diversification in technology⁵ ⁶

klimaVest is also characterised by a high level of diversification at a technical level. The production of wind turbines and photovoltaic systems, as well as their operation, is spread across a variety of companies. This means that individual losses, for example due to delays in delivery or no deliveries, can be easily absorbed.

As a result, due to the technical diversification, the fund has the size and expertise that smaller providers or private individuals cannot afford. Here, too, klimaVest – as a financial product from Commerz Real – benefits from over 50 years of experience with physical assets. 

System manufacturers

As at: 30/04/2024

Operations manager

As at: 30/04/2024

klimaVest at a glance

Investment horizon

Recommended holding period: More than 5 years

klimaVest: Die
  Grafik zeigt den Anlagehorizont, dieser ist unterteilt in kurzfristig,
  mittelfristig und langfristig. Für die klimaVest zählt mittelfristig bis
  langfristig.

Risk class

1 of 7 (The risk of potential losses from future performance is rated as medium)⁴

klimaVest:
  Die Grafik zeigt die Risikoklassen von Geldanlagen in einer Skala von eins
  bis sieben an. Der klimaVest-Fonds ist mit Klasse 4 markiert.
Fund name klimaVest
WKN KLV100 
ISIN  LU2183939003
Fund launch 28/10/2020 
Investment focus Acquisition of assets in high-growth and stable economic regions
Investment company  Commerz Real Fund Management S. à r. l. 
Fund volume (target) > EUR 10 billion
Fund volume (as at 16/06/2022) 1.3 billion
Number of fund properties³ 43
Initial charge (maximum) 5 %
Total expense ratio for financial year 2022/2023¹¹
0.57 % 
Estimated total expense ratio for financial year 2023/2024¹²
1.30 %
Risk and return profile (SRRI)⁴ 1
Liquidity ratio Target 10–15% / Maximum 30%
Fund duration 50 years with two 5-year extension options
Investor types Private investors, semi-professional and professional investors
Requires advice Yes
Cancellation period 2 weeks after investing in the fund

 

Price publications

Price determination (e.g.: daily, monthly) daily
Closing day/Valuta Order date
Acceptance deadline for orders at the registrar and transfer agent 16:00h
Media of the prize publication national daily newspapers, fwd. own website


klimaVest’s target sectors

Die Grafik zeigt die verschiedenen Zielbranchen, in die klimaVest investieren kann

Primary target industries:

Renewable energy

  • Wind power (onshore/offshore)
  • Photovoltaic power
  • Hydroelectric power

Secondary target industries

Sustainable infrastructure

  • Sustainable forestry
  • Transmission and distribution networks
  • Storage technology
  • Low-emission transport and electromobility
klimaVest: Luftaufnahme des Windparks Kuuronkallio im Sonnenlicht

Sustainable physical assets

Investments with a future

Opportunities and risks of klimaVest

The opportunities provided by klimaVest

  • Invest conveniently and easily in primarily environmentally sustainable assets in the infrastructure sector
  • Broad risk diversification across different countries, locations, asset classes (e.g. energy generation, energy transmission, transport and mobility) and within the asset classes (e.g. onshore and offshore wind power, photovoltaics) is aimed for
  • Participation in state-regulated feed-in tariffs for electricity from renewable energy sources possible
  • Issue and redemption of units generally on any trading day without notice period⁷ via the fund company
  • Opportunity to achieve stable returns while at the same time making a positive and measurable contribution to climate protection or climate change mitigation due to CO₂ avoidance through the energy generated by klimaVest assets
  • Professional asset management
  • Financing of positive sustainability objectives
  • Many years of experience in the field of renewable energies at Commerz Real

The risks of klimaVest

  • The value of infrastructure investments and liquidity investments may fluctuate
  • Specific risks associated with investments in renewable energy (e.g. wind, solar radiation, general climate changes, technology, transmission by cable)
  • Despite extensive currency hedging, a residual currency risk remains
  • Lack of liquidity of investments in physical assets. Distributions may not be made
  • Certain conditions apply to the redemption of units⁷
  • A fundamental risk with klimaVest is the temporary suspension of the redemption of units due to insufficient liquidity up to an orderly dissolution of the fund
  • Subsequent changes may be made to the feed-in tariff by the government at the expense of investors
  • Changes to the legal requirements for impact funds may result in the fund’s assets no longer complying with the regulatory requirements of an impact fund and then potentially having to be sold at a loss

Detailed information on the risks can be found under Downloads in the Information Memorandum and in the klimaVest Key Information Document.


¹ The management company of klimaVest is Commerz Real Fund Management S.à r.l.
² Calculated using the BVI method (excluding initial issue premium/ argio; distributions reinvested immediately). Past performance and target return statements are not indicative of future returns.
³
 Transition of benefits and burdens for the five Swedish photovoltaic project developments of Helios Nordic Energy has not yet taken place.
⁴ The risk of potential losses from future performance is rated as medium.
⁵ Diversification according to installed capacity. The calculation is based on the inventory after completion of all project developments.
⁶ Some of these are project developments. System manufacturers/operations managers have not yet been fully specified here, but will be decided before completion. 
⁷ No notice period or minimum holding period for redemptions up to 500,000 euros; 12-month notice period for redemptions > 500,000 euros p.a.; redemptions may be restricted due to insufficient liquidity; total redemption amount at each redemption date limited to 50% of the fund’s liquidity portfolio.
⁸ In the model calculation of the performance for the investor (net), an investment amount of 10,000 euros and 5% earnings share, based on the initial charge, is assumed, which is collected once at the time of purchase by Commerzbank AG and deducted in the first year. The earnings share, based on the initial charge, is a maximum amount that may be lower in individual cases. Currently, an earnings share of a maximum of 4% is collected, based on the initial charge. In addition, custodian fees may be incurred to hold the units, which may reduce the performance for the investor.
⁹ Calculated at a 4% earnings share, based on the initial charge.
¹⁰ Calculated at a 5% earnings share, based on the initial charge.
¹¹ Transaction, financing, maintenance, management and administration costs of associated companies and asset investments are not taken into account. If fund management fees have been incurred for the investments held, these are taken into account in full when calculating the total expense ratio. The ratio refers to the average net fund assets according to the information memorandum.
¹² Includes estimated costs (excluding transaction/management/maintenance costs and financing and administration costs for asset investments and associated companies). This cost estimate does not meet the requirements for a MiFID regulatory cost statement, which you will receive in time before the order is executed.
¹³ Current redemption price (excluding initial issue premium/ argio). The issue price always includes the initial charge of the klimaVest sales partner.