Impax and BNP Paribas launch new fund in Australia
Friday, January 16, 2009
Impax Asset Management, ("Impax") the investment manager which
focuses exclusively on the environmental markets sector, has
announced it has launched the Impax Environmental Markets Trust
("IEM Trust") in Australia with BNP Paribas Investment Partners
("BNP Paribas").
The IEM Trust is based on Impax's flagship investment trust, Impax
Environmental Markets plc which is the only "pure-play"
environmental investment trust in the FTSE All Share index.
The IEM Trust is the first and only fund available in Australia
to focus on three key environmental sub-sectors. The IEM Trust
invests only in "pure-play" companies which have at least 50% of
their revenues, profits or capital employed derived from, or
invested in, the following environmental sub sectors:
Alternative Energy and Energy Efficiency
Water Treatment and Pollution Control
Waste Technologies and Resource Management
Ian Simm, CEO of Impax said: "Environmental investment has moved
firmly into the mainstream over the past few years and is now a
rapidly developing area of the global economy. For investors with a
medium term perspective, the stocks of companies active in
environmental markets currently represent excellent value."
Robert Harrison, Chief Executive Officer BNP Paribas Investment
Partners Australia said: "We are delighted to welcome the Impax
Environmental Markets Trust to our family of funds. We have seen
increased interest in the environmental markets from our investors
and this will give them the best opportunity to take advantage of
such a rapidly growing sector."
Despite the economic downturn, 2009 promises to be a positive
year for environmental policy and environmental investments:
The European Council recently reached an agreement on a revised
version of the EU Commission's 20-20-20 climate change package
which will see emissions reductions, renewable energy and energy
efficiency targets in place.
In the US, the markets are eagerly anticipating specifics on
President-Elect Obama's green 'New Deal', which includes a plan to
invest $150 billion over ten years into environmental products and
services.
In Australia, the Federal Government has maintained its commitment
to introduce a carbon emissions trading scheme in mid-2010, with a
target of a 15% reduction in emissions by 2020 if agreement is
reached in a global climate pact.
With this background companies will be able, and in some cases,
obliged, to implement plans for investing in a whole range of
environmental products and services.
The IEM Trust will draw on the success and expertise of the
Impax team who have a ten year track record of managing funds
focused exclusively on the environmental sector and today manage
and advise 17 funds and segregated mandates.
About Impax Environmental Markets Trust:
The Impax Environmental Markets Trust is only available to
wholesale clients in Australia. The Investment Objective is to seek
capital growth over the longer term by investing in markets for
cleaner and more efficient delivery of basic services of energy,
water and waste. Investments are in quoted companies which provide,
utilise, implement or advise upon technology-based systems,
products or services in environmental markets, particularly those
of alternative energy and energy efficiency, water treatment and
pollution control, and waste technology and resource management.
The Benchmark Index is the Morgan Stanley Capital International
(MSCI) World Index (with net dividends reinvested before fees)
measured in Australian dollars. Minimum Investment size is
$500,000. No minimum for additional investments.
About Impax Group plc:
Impax Group plc ("Impax"), which is quoted on the Alternative
Investment Market of the London Stock Exchange, 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 the fast growing environmental markets.
Impax Asset Management (the trading entity of Impax Group) manages
assets for institutional and private investors, across a range of
listed and private equity funds.
BNP Paribas Investment Partners holds a 27.9% holding in Impax
Group PLC.
For further information please visit: www.impax.co.uk
About BNP Paribas Investment Partners
BNP Paribas Investment Partners brings together the full palette
of asset management expertise of the BNP Paribas Group. Through a
unique platform that offers immediate and simplified access to a
broad range of specialist Partner companies, BNP Paribas Investment
Partners has become a leader among the multi-specialist asset
managers. At 30 June 2008, assets under management amounted to 327
billion euros*, nearly half of which was managed for institutional
clients. With 2,400 professionals serving clients in 70 countries,
BNP Paribas Investment Partners draws on over half a century of
asset management experience and has seen ten years of steady growth
through acquisitions and joint-ventures. * assets under advisory
included
Carbon International
Samantha Hill
samantha.hill@carboninternational.com
+44 (0)20 7483 7205
David Hopkins
david.hopkins@carboninternational.com
+44 (0)20 7483 7202