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As stated in the original investment rationale, the fund's management has estimated the fair price of BP plc. to be closer to $21. The current stock price is $21.7, and management no longer considers the stock undervalued. As the fund's strategy is to invest in companies which the fund's management considers undervalued, BP plc can no longer be included in the fund's portfolio. The stock will be replaced with another company operating within the energy sector.
Changing energy sector strategy. | 10% short, 90% long. | Equal weight within short and long positions. |Short leg: 8 energy companies with highest carbon footprint tradeable in LON, Nasdaq or NYSE and Stockfuse | According to CAI 2019, 6 companies with biggest carbon footprint between in 1965 and 2017 tradeable in stockfuse + two companies with biggest carbon footprint in 2017 accoring to M.J. Bradley & Associates 2017 | #3 per CAI