Our investment philosophy is based upon the premise that the most profitable approach to listed equity investing is to invest in companies that operate in markets where there are long term themes that underpin growth and where those companies are poorly understood and, therefore, inefficiently priced to provide opportunities for a specialist active manager to add value.
Impax's listed equity funds seek out mispriced companies that are set to benefit from the long-term trends of rising global populations and wealth, changing demographics, urbanisation, increasing consumption, and the resultant increases in resource demand. Investment is focused on a small number of deeply researched global equity strategies across energy efficiency, renewable energy, water, waste/resource recovery, food and agriculture related markets.
Companies in these markets are generally characterised by high levels of corporate activity, low levels of sell-side coverage, rapid technological innovation and regulatory momentum. This means that the sectors we invest in are complex to understand and challenging to navigate, leading to a prevalence of mis-pricing that Impax seeks to exploit for its clients through a specialist focus and expert team.