April 22, 2021
Earth Day: President Biden convened 40 Heads of State and governments, including the world’s 17 largest economies, greenhouse gas emitters for a global Leaders Summit on Climate on 22-23 April 2021. "This is the decade we must make decisions that will avoid the worst consequences of the climate crisis”- President Biden’s plea on Earth Day. While the US aims to halve its emissions by 2030 from 2005 levels – nearly doubling the last pledge, a number of countries made similar pledges. For example, Japan raised its target to cut emissions from 26% to 46% from 2013 levels by 2030, while Canada raised its previous target of a 30% reduction below 2005 levels by 2030 to a range of 40%-45%. Biden also intends to double its annual public climate finance to developing countries by 2024, compared with spending under Obama in 2013-2016.
April 1, 2021
Launched on April 1st, Sierra Climate, is a global long only fund investing in three principal categories: renewable energy, energy conservation and the circular economy. Currently, 37 holdings in over 30 subcategories form the starting portfolio for our fund. Sierra Global Management has a global climate watch list of approximately 200 of the world’s most important climate companies to draw from. Our perspective, incorporating the advice of Professor Daniel Kammen, our Climate Science Advisor, on the total addressable markets of various climate technologies, as well as our Advisor’s view on the direction of energy policy, help us structure the portfolio. We use the same approach proven over our approximate 25-year history in the Sierra Europe Hedge Fund to select growth stocks and manage risk.
January 15, 2021
Professor Daniel Kammen joins Sierra Global as the firm’s Climate Science Advisor. Serving as a Professor of Energy at University of California at Berkeley, Dr. Kammen is a world leading climate scientist and energy policy expert currently advising the state of California’s leadership having served as a Science envoy under the Obama/Biden administration. Professor Kammen’s lengthy resume also includes work as a contributing or coordinating lead author for the IPCC since 1999. In 2007, the IPCC’s work on climate change shared the Nobel Peace Prize.
December 1, 2020
Sierra hires Antonio Ciudad, in the newly created position of Head of Sustainability. Mr. Ciudad, joins from UC Berkeley’s Haas School of Business where he was a member of the investment team of the student run Haas Sustainable Investment Fund, that our founder, Charles Michaels co-founded in 2007. Since then, Mr. Michaels has been an advisory board member.
November 10, 2020
Sierra was once again short-listed by EuroHedge in the category of European Equity under $500m. We were also nominated in three categories by HFM for: US Equity Long-term performance (5 years) under 1bn, global equity performance under 1bn, and global equity long-term performance (5 years). This is the third year in a row Sierra has been recognized by EuroHedge for best risk-adjusted performance in our peer group of Long/Short European equities.
July 1, 2020
Sierra launches the Responsible Business and Investment Advisory Group including Kellie McElhaney, Marcela Manubens, and Joshua Grant. Kellie McElhaney, from UC Berkeley where she is the Founding Director of the Center for Equity, Gender and Leadership. Ms. McElhaney is a leading expert on equity fluent leadership, value-creating strategies of diversity and inclusion, and corporate social responsibility. Marcela Manubens is Global VP for Integrated Social Sustainability at Unilever. Marcela is an opinion leader on sustainable supply chain practices and human rights. Joshua Grant is the founder and CEO of Kukua, a leading advisory business assisting asset owners, investment owners, and the wider financial services sector on how to integrate RI, ESG and sustainability considerations into their business and investment decisions.
November 26, 2019
I want to thank our team and their strong contribution for some good news I saw today. I received an email from HFM in connection with their upcoming November 20 performance awards that we have been short listed for two awards: Global Equity under $1 billion and Equity long-term performance (5-years) under $1 billion. This follows our win earlier this year for the 2018 Emerging Manager & Smaller Fund-Equity Strategies EuroHedge Award.
August 1, 2019
The Sierra team finds it to be lucrative to be early to invest in new trends. We believe AI driven Chatbots from Amazon, Apple, Google and Microsoft will drive the need for consumers to use powerful wireless hearables such as the AirPod Pro creating a new medium of advertising, “voice.” First we had flat panel display screen advertising, then mobile and the next trend will be voice.
January 24, 2019
On January 24th at the EuroHedge Fund Award dinner, we were most pleased to learn that Sierra Europe won first place in the category “Emerging Manager & Smaller Fund Equity Strategies.” For months we had been on notice that we were a finalist for Best European Equity Strategy, but in the last days EuroHedge reclassified us, and placed us in the new category which we won. The winning fund in each category goes through two main screens: the first category finalists are chosen based on the highest Sharpe Ratios, and then the finalist with the highest return from the initial screened group is chosen as the winner.