New Impax fund raisings point to strong demand for environmental investing
September 20 2007
Impax Group plc (“Impax”), the AIM listed investment management company, has today announced two successful fund raisings, taking the funds managed or advised by its wholly owned subsidiary, Impax Asset Management Ltd ("IAM"), to over £930 million.
Impax Environmental Markets
plc
This morning, Impax
Environmental Markets plc ("IEM"), an environmental investment
trust listed on the London Stock Exchange ("LSE") that is managed
by IAM, held an Extraordinary General Meeting at which a vote was
passed to issue £105 million of subscriptions for C
Shares. It is expected that these shares will begin trading
on September 21st
2007. The addition of the C Shares
will take the aggregate net assets of IEM to over £370
million, reinforcing the trust's position as the leading closed end
fund investing in the environmental sector.
IEM invests predominantly in small and mid cap growth stocks active in environmental markets throughout the world. Over the past 4 years, IEM has outperformed the FTSE All Share Index by 35 percentage points.
Dresdner Kleinwort, which has been broker to the Company since its launch in 2002, is acting as sponsor and placing agent on the issue of C Shares and has provided advice to the Company on the transaction.
New Japanese Environmental
Fund
Impax has also announced today that it has
been appointed as investment adviser to the DIAM World
Environmental Business Fund (the “DIAM Fund”), a new
fund that will invest in a portfolio of mid-cap and large-cap
stocks active in environmental markets. The DIAM Fund, which
is incorporated in Japan, is an open-ended public fund managed
by DLIBJ Asset Management and DLIBJ Asset Management International
and has raised Yen 6.2 billion (£27 million).
Ian Simm, Chief Executive of Impax Group plc, commented: “The further expansion of our investment trust and the launch of the new fund in Japan reflect the strong demand from investors for exposure to environmental markets. Over the past twelve months, Impax has doubled its funds under management, making it one of Europe's largest and most experienced investors in this high growth sector of the economy.”
About
Impax:
Impax was founded in 1994 as a specialist finance house focusing on
the markets for cleaner or more efficient delivery of basic
services of energy, water and waste.
Impax's dedicated team of professionals, with many years of experience in the financial and environmental sectors, is ideally placed to understand and take advantage of the investment opportunities arising from these growing markets.
Impax Asset Management today manages over £930 million of assets for institutional and private investors across a range of listed and private equity funds.
Enquiries
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Impax Group: |
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Ian Simm |
020 7432 2619 |
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Bruce Jenkyn-Jones |
020 7432 2618 |
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Carbon International PR |
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Clare Brook |
020 7586 8096 |
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David Hopkins |
020 7586 6641 |
