Energy

Japan was worst performing

'Secure growth companies could be toppled by turnaround stories'

Total inflows of nearly $6bn in 2016

Launching IPO in mid-February

Focus on environment and water quality

To say that markets have been unkind to alternative energy equities is an understatement. The sector, as represented by the WilderHill Clean Energy index (ECO index), is down 78% since July 2008 and down 61% since 2011.

Thermal coal staged a remarkable rally this year, just when it was written off by investors, writes Sanlam FOUR's Adour Sarkissian.

Held high cash levels for three years

First deal in eight years

Merger of two smaller funds