Tribeca Nuclear Energy Opportunities Fund – Monthly Update – April 2021

A strong end to the month generated an estimated gross return of 15.3% for April bringing the year-to-date return to 67% and 1-year return to 558%.

The strategy continues to outperform sector ETFs and the larger single stock names in the sector, underscoring our diversified approach which includes exposures to the uranium spot price, large cap producers and a geographically diverse range of brownfield and exploration projects Portfolio Manager Sources: Tribeca Investment Partners, Bloomberg.

Two mega trends continue to develop globally, and both require nuclear power to achieve stated goals. Decarbonisation and Electrification – Structural Tailwinds Tribeca Nuclear Energy Opportunities Strategy is invested in the Clean Energy sector, owning companies that produce fuel for carbon free energy and electricity generation that is an essential tool in the war on carbon as the world strives to achieve net zero carbon emissions. The Biden Administration acknowledged that nuclear energy is essential to achieve the U.S.’s decarbonisation goals. Secretary of Energy, Jennifer Granholm confirmed that the Administration was exploring Federal Production Tax Credits for nuclear reactors to reward their zerocarbon status in the same way as other clean energy sources such as wind and solar. Exelon Corporation, the U.S.’s leading energy provider has a 31 May deadline to consider reversing their decision to close their Byron and Dresden nuclear plants if the Illinois legislature cannot agree to pass green credits to help their competitiveness. We remain of the view that these reactors will not shut down as the Federal Government will intervene if State support is not forthcoming.

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