Focus on quality
- High-quality companies across all sectors
- Proven management teams with strong track records
- Preference for low leverage, strong free cash flow and healthy balance sheets
Fund detail
DGC – Energy
DGC Energy is a long-only, actively managed equity fund focused on the global energy transition and energy efficiency. The fund follows a disciplined investment approach based on fundamental research and selective exposure to companies active across the energy value chain.
This webpage is a marketing communication. Please refer to the Prospectus and the PRIIPs Key Information Document (KID) before making any final investment decisions.
Access to fund information and documentation is subject to jurisdiction and investor-type restrictions.
Change investor profileStrategy AUMEUR 115 000 000
30.09.2025
30.09.2025
Investment overview
DGC Energy is a long-only, actively managed equity fund focused on the global energy transition and energy efficiency. The fund follows a disciplined investment approach based on fundamental research and selective exposure to companies active across the energy value chain.
- Pure thematic focus: long-only equity strategy centered on the energy transition theme
- Benchmark agnostic: unconstrained in terms of geography and sector with no style bias (blend)
- Large cap orientation: primarily invests in developed markets and large-cap companies
- High conviction: concentrated portfolio of ~20–25 stocks, diversified across sub-sectors
- Low to moderate turnover: focused on long-term investment horizon
- No derivatives: no market timing, futures or options, purely bottom-up fundamental approach
Why consider this fund
30+ years’ experience in equity portfolio management, with a long-standing commitment to fundamental, active investing.
In a market where many clean energy companies remain highly speculative or unprofitable, the strategy focuses on a disciplined, fundamentals-driven investment approach designed to provide exposure to long-term developments in the energy sector.
The investment process combines fundamental analysis, valuation discipline and selective exposure to quality growth opportunities across the energy value chain.
Recognised by external rating agencies for its long-term investment approach and risk-aware portfolio construction.
The strategy aims to provide diversified exposure to companies benefiting from long-term trends within the energy sector.
Investment process and characteristics
Valuations are key
- Willing to pay elevated P/E ratios for quality but avoid excessive multiples
- Use of normalized 2-year PEG and 3-year free cash flow yield as core valuation metrics
- DCF analysis on all holdings to assess valuation upside/downside
Portfolio construction & Risk Management
- Continuous risk oversight with clear internal limits
- Agnostic investing: avoid bias, no averaging down
- Position sizing based on conviction and risk
- Stay flexible and disciplined in portfolio rebalancing
Investment Risks
- The value of investments may fluctuate and investors may not recover the full amount invested.
- Equity markets can be volatile and may be affected by economic, political and market developments.
- Investments in international equities may be exposed to currency fluctuations.
- ESG criteria are integrated into the investment process but may not necessarily result in improved investment performance.
- Please refer to the Prospectus and PRIIPs KID for a full description of risks associated with the Fund.
ESG Integration
- ESG integration within the investment process
- Best-in-class approach (no strict sector exclusion)
- Exclusion of companies with weak ESG profiles
- Preference for companies improving ESG practices over time
- Fund SFDR Classification: Article 6
Investment team
Angel Sanz, CFAChief Investment Officer, Head of Asset Management
Pierre MoutonHead of Long Only Investments, Member of the Executive Committee
Julien Baltzinger, CFAPortfolio Manager
Marie-Caroline BenoistonSenior Portfolio Manager, Head of ESG
Maximilien MestelanEquity Analyst
Maria Hernandez SanchezEquity and ESG Analyst