I am pleased to announce that I am adding a number of managers to the resources page of the website today. They can be found in this blog as well. When I started this website last year I could only identify nine ESG related hedge funds. It is possible that one of these, Eco-Vest Advisors, has closed but I have not been able to confirm this.

Ardsley Partners (www.ardsley.com) launched its Renewable Energy Fund in July 2006. It is a global long/short equity hedge fund dedicated to the renewable energy sector. Ardsley appears to be fairly well established with over $1 billion in hedge fund related assets. These include the Ardsley Offshore Fund, Ardsley Partners Fund II, Ardsley Partners Institutional Fund, and Augusta Partners. The company was founded in 1987 by CEO Philip Hempleman.

Also in the renewable energy space, the New Energy Fund LP (www.newenergyfundlp.com),based in New York, manages a pure alternative energy hedge fund.

Man Group (www.mangroupplc.com), the $60 billion European hedge fund behemoth, is going green. Outgoing CEO, Stanley Fink, at a recent London conference said the financial world "should expect a stream of funds from us in the next three or four years from an internal task force that we've labeled Green Man. Fink said expected returns will be between 10% and 15%.

I recently came across an excellent paper published by the UK Social Investors Forum, "Discovering New SRI Institutional Investment Opportunities", which highlighted two ESG based European funds.

1. The market-neutral Coolum Strategus SRI Fund (www.strategus.be) takes long and short positions in European companies depending on their social and environmental performance and record as well as on their valuation and financial prospects.
2. The Morley SRI Long Short Fund's (www.morleyfm.com) objective is to generate net returns in excess of 12% per annum by investing in large cap European Equities.

Stay tuned. I am optimisitic that there are more to come!