This is according to Peter Ruse, investment manager at Oceanic Asset Management, who doubts that the move will spark a global paradigm shift away from atomic energy.
"When looking at the impact of other developed nations potentially following down the path of Germany, it is unlikely in the light of how pro-green their government’s stance has become," he explained.
"The German provincial election in late March delivered the first green coalition state government and it is clear that the recent decision has come about as a political move by Merkel to act in the face of growing headwinds."
Ruse says that in a global context, Germany’s uranium consumption is minimal and that he doesn't expect the nuclear pullout to be of huge significance.
"Its impact on the uranium spot market was very minimal as the price merely eased $0.50 to $56.50 for the last week in May and remained $1.50 above the April trade tech price," he continued.
"It is hardly what you call a fear signal for a nuclear disaster that was seen throughout March in Japan, however this is assuming that no other countries rush to follow Germany's lead with phase-out plans."
According to a report by financial research company Macquarie, the direct impact of the Fukushima crisis on global uranium consumption is a predicted 1 per cent reduction through to 2016, and a 2 per cent reduction by 2020.
Global demand is set to increase as emerging economies such as China and India struggle to meet their energy needs.
"The impact of the earthquake and Germany’s action is not a big turning point," said Ruse. "Oceanic remains comfortable with the aggressive pace with which both China and India are expanding their consumption and production capabilities for nuclear power."
"India is facing massive headwinds with power shortages and is building reactors in record time. Korea is stepping up nuclear consumption as well," he added.
"The spot price is still trading above the cost curve, suggesting that short-term supply remains tight, which can be linked to China stockpiling while lower prices are apparent."
Oceanic’s Australian Natural Resources fund has remained fully invested in its largest uranium positions – Paladin Energy and Xtract – despite share prices taking a battering after the Japanese nuclear crisis. Fund manager Myles Campion has also maintained his position in Canadian listed mining and exploration company Uranium One.
Performance of funds over 1-yr
Source: Financial Express Analytics
According to Financial Express data, the Australian Natural Resources fund has outperformed the much larger JPM and Investec Natural Resources funds over the last year. It has returned 46 per cent compared with 26 per cent from the JPM fund and 13 per cent from Investec.