Impax-FTSE License ET50 Index to Major US Pension Fund
Tuesday, August 25, 2009
Impax Asset Management Ltd ("Impax"), a leading asset manager
dedicated to the environmental markets sectors and FTSE group
("FTSE"), the global index company, have licensed the FTSE
Environmental Technology 50 Index, formerly the Impax ET50, to one
of the US's largest public pension plans, the New York State Common
Retirement Fund (NYSCRF).
The move will see NYSCRF benchmark $100 million to the index as
part of its clean tech allocation.
The license follows Impax and FTSE's recent launch of the
world's first Environmental Markets Classification System and the
expansion of the FTSE Environmental Opportunities Index Series. All
indices, managed by Impax and FTSE, are comprised of companies
derived from a database managed by Impax.
Impax developed the ET50 Index - originally called the 'Impax
ET50 Index' - in 1999 as a method of measuring the performance of
companies whose core business is the development and operation of
environmental technologies (which include alternative energy, water
and pollution control, and waste and resource management). The
index is made up of the largest fifty "pure-play" environmental
technology companies by market capitalisation worldwide.
In late 2007, Impax handed calculation of the index over to FTSE
because of the Group's proven indexing expertise and its commitment
to providing investors with a set of responsible investment
Ian Simm, Chief Executive of Impax, said: "The license of the
FTSE ET50 to the New York State Common Retirement Fund shows the
continued success of the partnership combining FTSE's index
expertise and Impax's in-depth sector knowledge."
"It also provides further evidence that institutional investors
recognize that the environmental sector should continue to deliver
significant outperformance over global equity markets."
The $100 million allocation will be managed internally by
NYSCRF's in-house asset management team. NYSCRF is the third
largest United States retirement plan sponsor with $109.9 billion
in total assets as of May 29, 2009.
About Impax Group plc:
Impax Asset Management is a wholly owned subsidiary of
Impax Group plc. Impax Group plc ("Impax") is quoted on
the Alternative Investment Market of the London Stock Exchange and
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 manages over US$1.8 billion of assets for
institutional and private investors, across a range of listed and
private equity funds.
For further information please visit: www.impax.co.uk