Oekoworld - AUM approaching FY17 target
ÖKOWORLD (ÖWAG) reported healthy growth in H117, with sales and operating profit more than doubling year-on-year despite the lack of dividend payments from affiliated companies (€1.6m in H116). AUM continues to increase and currently stands at €970m (up 4.8% vs end-March), approaching the €1.0bn threshold that ÖWAG intends to surpass in FY17. To date, the flagship Ökovision Classic fund posted returns of 6.7% (C-shares) and 5.2% (A-shares). ÖWAG’s shares rallied 27% ytd and are now trading at a premium of 4% and 27% on P/E and EV/EBITDA for FY17e, respectively.OEKOWORLD AG, formerly Versiko AG, is a Germany-based investment consulting company and funds operator that focuses on ecological investments. The Company serves both private customers and institutional investors, banks and other financial services provider. It offers the pension insurances Oekoviola, Versirente and Veresikid, as well as the investment funds Oekoworld Oekovision Classic, Oekoworld Growing Markets 2.0, Oekoworld Oekotrust, Oekoworld Klima, Oekolworld Water For Life, Oekovision Garant 20 and New Energy Fund. The Company conducts sustainability research in order to identify potential investment possibilities and asset and fund management through OEKOWORLD LUX SA, a Luxembourg-based subsidiary.
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