Effective October 21, 2008 the RELEC and SOLAR indices were updated and rebalanced. The recent steep declines in sustainable energy stocks (RELEC -58.7% YTD, SOLAR -63.5% YTD) has resulted in the removal of a number of companies from these two Modified Market Capitalization indices. The removals were partially offset by addition of several companies that pass all Camino’s index screens. For complete return information on the indices and a variety of comparables please visit our returns page.
The RELEC index includes wholesale producers of electricity, and their equipment suppliers, using renewable energy sources, currently bio-waste, biomass, geothermal, hydro, ocean, solar, and wind. Hanwei Energy Services Corporation (HE.TO), EarthFirst Canada Inc. (EF.TO), and Plambeck Neue Energien Ag (PNE3.DE) were removed from the index due to their market capitalization going below USD 100 million. EDP Renovaveis (EDPR.LS) was added. Currently 20 PurePlay(tm) companies headquarted in 11 countries are included in the index.
The SOLAR index includes companies pursuing business activities related to the end-use of solar energy by producing photovoltaics, conducting photovoltaic related activities, or producing end-use heat systems. Ascent Solar Technologies, Inc. (ASTI), Akeena Solar, Inc. (AKNS), Centrosolar AG (C3O.DE), Day4 Energy Inc. (DFE.TO), Solar Integrated Technologies, Inc. (SIT.L), and Sunways AG Koblenz (SWW.DE) were removed from the index due to their market capitalization going below USD 100 million. Motech Industries Inc. (6244.TWO) was added to the index. Currently 31 PurePlay(tm) companies headquarted in 9 countries are included in the index.