Impax to launch open-ended version of Impax Asian Environmental Markets plc
Monday, April 12, 2010
London, Monday 12th April 2010- Impax Asset
Management Group plc ('Impax'), the specialist environmental
investment company, announces the launch of the Impax Asian
Environmental Markets (Ireland) Fund, an open-ended version of
Impax's existing Asia-focused investment trust.
This follows the successful IPO in October 2009 of Impax Asian
Environmental Markets plc, ("IAEM"), which, at launch, was the
largest investment company IPO on the London Stock Exchange since
July 2008, raising £104.5 million.
Since inception, IAEM has returned 18.9%, versus 11.3% for the
MSCI AC Asia Pacific (ex Japan) Index.1
The Impax Asian Environmental Markets (Ireland) Fund ('the
Fund') will be launched under Impax Funds (Ireland) plc, Impax's
UCITS III umbrella, which is listed on the Irish Stock
Exchange.
Ian Simm, Chief Executive of Impax,
commented:
"We are delighted to announce the launch of this Fund, a sister
company to our successful Asian investment trust. The Fund is being
launched to further enable investors to benefit from the rapid and
sustained growth anticipated from companies active in the
environmental sector that are based in the Asia-Pacific
region."
"We believe that the key drivers of the Asian environmental
markets - market liberalisation, tightening environmental policy
and falling costs of new technology - will continue to generate
highly attractive investment opportunities."
"Since the launch of our Asian investment trust, China has
pledged to cut its carbon intensity by 40-45% by 2020, India has
announced a plan to invest USD 19 billion in solar technologies and
Korea has set out a framework for measures to reduce greenhouse
gases and develop clean technologies."
"These announcements reinforce our belief that the environmental
markets in Asia are positioned for superior growth and that our
Asian products will deliver long term outperformance."
"The new Fund will target a growing universe of more than 400
Asia-Pacific environmental stocks with an aggregate market cap of
US$800bn."
Six share classes are available to investors, with "A" and "B"
shares denominated in Sterling, Euros and US Dollars. Class "A"
shares require a minimum subscription of £500,000 and carry a 1%
management fee. Class "B" shares require a minimum subscription of
£1,000 and carry a 1.5% management fee. Until 31st May 2011, Impax
will rebate 25bp of the management fee for class "A" shares to
investors who subscribe to the Fund before 31 May 2010.
Enquiries:
Notes to editors
Impax Asset Management is a leading specialist investment
manager dedicated to the environmental sector. Founded in 1994,
Impax now manages c. £1.53 billion2 across a range of
closed ended funds, open ended funds and segregated accounts on
behalf of institutional and private investors.