{"id":14479,"date":"2025-07-03T13:44:51","date_gmt":"2025-07-03T12:44:51","guid":{"rendered":"https:\/\/dev.greenbenefit.com\/management-commentary-for-private-clients-july-3-2025\/"},"modified":"2026-04-07T13:59:49","modified_gmt":"2026-04-07T12:59:49","slug":"management-commentary-for-retail-clients-july-3-2025","status":"publish","type":"post","link":"https:\/\/greenbenefit.com\/en\/management-commentary-for-retail-clients-july-3-2025\/","title":{"rendered":"Management Commentary for Retail Clients \u2013 July 3, 2025"},"content":{"rendered":"\n

General Development<\/h2>\n\n

In June 2025, the fund price rose by 11.73 percent, significantly recovering from its spring lows. Although political uncertainties surrounding a new US tax law led to short-term volatility, they were overshadowed by numerous positive corporate announcements. Progress in order intake, technological development, and financial stabilization of many portfolio companies contributed significantly to the month’s gains. Geopolitical de-escalation in the Middle East also had a supportive effect on the markets. For full performance details, please refer to our factsheet<\/a>. <\/p>\n\n

Market Performance in June<\/strong>Eighteen portfolio holdings recorded price gains, including ITM Power, QuantumScape, Plug Power, Ceres Power, Jinko Solar, Canadian Solar, and Hexagon Purus. Ten titles were in negative territory, including Voltabox, Novonix, and PowerCell Sweden. The equity ratio was 95 percent, and net inflows of approximately 200,000 euros were recorded \u2013 a sign of strengthened investor confidence. <\/p>\n\n

Portfolio Adjustments and Additions<\/strong>Profits from ITM Power were used to reduce the position. The freed-up funds were strategically used to increase existing holdings \u2013 for example, in Canadian Solar, SMA Solar, First Solar, Ceres Power, Elia Group, and QuantumScape. <\/p>\n\n

Company Examples<\/h2>\n\n

QuantumScape Achieves Breakthrough in Solid-State Batteries<\/strong>QuantumScape achieved a technological milestone with the “Cobra Separator,” which makes the industrial production of solid-state batteries significantly more efficient and scalable. Through its partnership with PowerCo (Volkswagen), the company gains direct access to large-scale production. The technology promises longer ranges, shorter charging times, and improved safety \u2013 key advantages over conventional batteries. <\/p>\n\n

PowerCell Sweden: Initial Order from Hitachi Energy<\/strong>PowerCell received its first commercial order for Hitachi Energy’s new Hyflex platform. The hydrogen-based solution replaces diesel generators in remote regions and strengthens PowerCell’s position in the industrial market environment. <\/p>\n\n

thyssenkrupp nucera: Expansion Project in Saudi Arabia<\/strong>In Saudi Arabia, thyssenkrupp nucera was commissioned to implement a large-scale chlor-alkali project. The energy-efficient BM2.7 technology is being used again. The order not only underscores the strong partnership with customer BCI but also thyssenkrupp nucera’s technological leadership in large-scale electrolysis solutions \u2013 a significant building block of our hydrogen strategy. <\/p>\n","protected":false},"excerpt":{"rendered":"

General Development In June 2025, the fund price rose by 11.73 percent, significantly recovering from its spring lows. Although political uncertainties surrounding a new US tax law led to short-term volatility, they were overshadowed by numerous positive corporate announcements. Progress in order intake, technological development, and financial stabilization of many portfolio companies contributed significantly to […]<\/p>\n","protected":false},"author":2,"featured_media":17096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[87],"class_list":["post-14479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management-commentary-retail","tag-2025-q3-en"],"_links":{"self":[{"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/posts\/14479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/comments?post=14479"}],"version-history":[{"count":1,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/posts\/14479\/revisions"}],"predecessor-version":[{"id":17118,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/posts\/14479\/revisions\/17118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/media\/17096"}],"wp:attachment":[{"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/media?parent=14479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/categories?post=14479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greenbenefit.com\/en\/wp-json\/wp\/v2\/tags?post=14479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}