DGC – Energy
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This webpage is a marketing communication. Please refer to the Prospectus and the PRIIPs Key Information Document (KID) before making any final investment decisions.
Fund profile
DGC Energy is a long-only, actively managed equity fund focused on the global energy transition and energy efficiency. The fund follows a disciplined investment approach based on fundamental research and selective exposure to companies active across the energy value chain.
- Pure thematic focus: long-only equity strategy centered on the energy transition theme
- Benchmark agnostic: unconstrained in terms of geography and sector with no style bias (blend)
- Large cap orientation: primarily invests in developed markets and large-cap companies
- High conviction: concentrated portfolio of ~20–25 stocks, diversified across sub-sectors
- Low to moderate turnover: focused on long-term investment horizon
- No derivatives: no market timing, futures or options, purely bottom-up fundamental approach
Focus on quality
- High-quality companies across all sectors
- Proven management teams with strong track records
- Preference for low leverage, strong free cash flow and healthy balance sheets
Valuations are key
- Willing to pay elevated P/E ratios for quality but avoid excessive multiples
- Use of normalized 2-year PEG and 3-year free cash flow yield as core valuation metrics
- DCF analysis on all holdings to assess valuation upside/downside
Portfolio construction & Risk Management
- Continuous risk oversight with clear internal limits
- Agnostic investing: avoid bias, no averaging down
- Position sizing based on conviction and risk
- Stay flexible and disciplined in portfolio rebalancing
Investment Risks
- The value of investments may fluctuate and investors may not recover the full amount invested.
- Equity markets can be volatile and may be affected by economic, political and market developments.
- Investments in international equities may be exposed to currency fluctuations.
- ESG criteria are integrated into the investment process but may not necessarily result in improved investment performance.
- Please refer to the Prospectus and PRIIPs KID for a full description of risks associated with the Fund.
ESG Integration
- ESG integration within the investment process
- Best-in-class approach (no strict sector exclusion)
- Exclusion of companies with weak ESG profiles
- Preference for companies improving ESG practices over time
- Fund SFDR Classification: Article 6
Why invest in this fund ?
Last update
11.05.2026
- 30+ years’ experience in equity portfolio management, with a long-standing commitment to fundamental, active investing.
- In a market where many clean energy companies remain highly speculative or unprofitable, the strategy focuses on a disciplined, fundamentals-driven investment approach designed to provide exposure to long-term developments in the energy sector.
- The investment process combines fundamental analysis, valuation discipline and selective exposure to quality growth opportunities across the energy value chain.
- Recognised by external rating agencies for its long-term investment approach and risk-aware portfolio construction.
- The strategy aims to provide diversified exposure to companies benefiting from long-term trends within the energy sector.
“ DGC Energy, with its high-conviction and quality-driven approach to the energy transition and efficiency, offers a compelling solution to complement a core equity allocation through a focused thematic lens. ”
Pierre Mouton
Head of Long Only Investments, Senior Fund Manager
Investment team
Pierre Mouton
HEAD OF LONG ONLY INVESTMENTS, MEMBER OF THE EXECUTIVE COMMITTEE
Maximilien Mestelan
PORTFOLIO MANAGER & EQUITY ANALYST
Marie-Caroline Benoiston
SENIOR PORTFOLIO MANAGER, HEAD OF ESG
Maria Hernandez Sanchez
PORTFOLIO MANAGER, EQUITY AND ESG ANALYST
Angel Sanz, CFA
CHIEF INVESTMENT OFFICER, HEAD OF ASSET MANAGEMENT
Julien Baltzinger, CFA
PORTFOLIO MANAGER
This webpage is a marketing communication. Please refer to the Prospectus and the PRIIPs Key Information Document (KID) before making any final investment decisions.
The information contained on this webpage is provided for information purposes only and does not constitute investment advice, an offer, solicitation or recommendation to buy or sell any financial instrument or investment product.
The views and opinions expressed are those of NS Partners at the date of publication and may change without notice.
Investments involve risks, including possible loss of capital. The value of investments and the income derived from them may fluctuate and investors may not recover the amount originally invested.
Past performance does not predict future returns.
Any reference to rankings, ratings or awards is provided for information purposes only and should not be interpreted as a guarantee of future performance.
Please refer to the Prospectus and PRIIPs KID for a full description of the Fund’s objectives, investment policy, risks and costs.
The Fund is authorised and regulated in Luxembourg and may not be offered or distributed in jurisdictions where such distribution would be prohibited.