Water washed away with the market (Part 2)
- From: Vol 10, Issue 1 (January 2009)
- Category: General
- Region: Unspecified
- Country: China, France and United States
- Related Companies: Asia Water Technology, Basin Water, Bio-Treat Technology, Brite-Tech, Christ Water Technology, Darco, Dayen Environmental, Tetra Tech and Thai Tap Water Supply
Water stocks offered little defence against the financial melt-down in 2008, but regulated utilities and US infrastructure stocks outperformed enough to keep the GWI Global Water Index ahead of the MSCI World Index.
The Pictet Water Fund – the largest fund in the water market – was 33.5% down in terms of performance. The net asset value of the fund fell by €2 billion over the course of the year to €2.1 billion, as the effect of the falling market was compounded by withdrawals. According to fund manager Hans Peter Portner, the rate ...
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