New Impax fund raisings point to strong demand for environmental investing
Thursday, 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 21st2007. 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
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020 7432 2619
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Bruce Jenkyn-Jones
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020 7432 2618
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Carbon International PR
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Clare Brook
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020 7586 8096
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David Hopkins
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020 7586 6641
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