Impax Group PLC
20 September 2007
Impax Group plc
New Impax fund raisings point to strong demand for environmental investing
September 20th 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 21st 2007. 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.
New Large/Mid Cap 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.'
Enquiries
Impax Group:
Ian Simm 020 7432 2619
Bruce Jenkyn-Jones 020 7432 2618
Landsbanki Securities (UK) Limited
Ben Money-Coutts 020 7426 9000
Simon Robinson 020 7426 9000
Carbon International PR
Clare Brook 020 7586 8096
David Hopkins 020 7586 6641
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.