Investor appetite for companies making the energy sector more sustainable has never been bigger. In the first half of 2020, "Energy Transition" funds in Morningstar's database attracted EUR 3.45bn, resulting in all-time high AUM of EUR 25bn.
This capital flow has contributed to the theme's significant outperformance of the broader equity market in 2020. Another explanation – and test – is the fast approaching US presidential election as some of the performance has been driven by market expectations of Democratic Party candidate Joe Biden winning after months of him leading in the polls.
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