Monthly report – March 2026

Monthly fund update

Key points

• T8 Energy Vision finished March down 4.7% (in Australian dollars, hedged to the Australian dollar). The main detractor from performance for the month was the adverse mark-to-market on Australian dollar foreign exchange hedging positions, as a result of the weaker Australian dollar (-3.1%). On an unhedged basis, T8 Energy Vision finished March down 1.5% (in Australian dollars, unhedged), outperforming global equities (-2.5% in Australian dollars) with comparable annualised volatility (a common measure of risk).
• We believe that the present market environment should be motivating equity investors to seek exposure to geographies, sectors and themes which have compelling fundamental tailwinds, attractive valuations and lower risk profiles.
• We have a particularly positive outlook for the electricity sector (a key aspect of our focus area) which is driven by structural, secular and cyclical tailwinds all converging.
• The winners are likely to include energy generation, grid infrastructure, energy storage and electrification (as well as their supply chains, including critical minerals).
• We believe that investors will not be able to get sufficient exposure to this thematic via major indices and therefore a deliberate allocation to a strategy such as T8 Energy Vision should be contemplated.

Please note that the detailed positioning disclosures included on the second page of our report have been redacted and are only available to unit holders in the fund.