Cleantech stocks remain resilient as broader market falls

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Demonstrating resilience in rising and falling markets, the three-year performance of the Australian CleanTech Index is nearly 30% ahead of the ASX200.

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As the markets have been falling, the Australian CleanTech Index outperformed the ASX200 for the second quarter of FY19. Demonstrating resilience in rising and falling markets, the three-year performance of the Australian CleanTech Index is nearly 30 per cent ahead of the ASX200.

As detailed in the table below, over the second quarter of the 2019 fiscal year, the Australian CleanTech Index recorded a loss of 8.2 per cent compared to the 9 per cent loss from the ASX200 and the 14.2 per cent loss from the ASX Small Ordinaries.

Whilst the figures have underperformed over the last six and twelve months, over the last three years, the Australian CleanTech Index is nearly 30 per cent ahead of the ASX200 and over five years this increases to nearly 50 per cent.

Investors following this sector are continuing to make handsome profits from the transition to a low carbon economy.

The best and worst performers in terms of share price performance over the quarter are shown in the table below.

The Australian CleanTech Index underwent its quarterly rebalancing at the end of December which took account of recent share issues and other corporate activity.  Two companies were added to the Index.

In addition, two recent name changes for index constituents have been:

  • Phoslock Environmental Technologies Ltd (PET.AX)is the new name for Phoslock Water Solutions.
  • Purifloh Ltd (PO3.AX)is the new name for the Water Resources Group.

To provide an analysis of the Australian CleanTech Index, a number of sub-indices have been developed. Over the quarter, the best performing index was the Australian Renewable Energy Index with the over-hyped Australian Sustainable Minerals Index again performing poorly.

Australian CleanTech Sub-Indices

With 96 companies falling under the coverage of the Index and with a combined market capitalisation of over $42 billion, the Australian CleanTech Index presents for the only complete picture of the Australian cleantech industry’s growth in a single measure.

The Index Performance Reports can be downloaded from here.

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