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| Impax
enters FTSE All Share Index |
09/03/06 |
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The
environmental investment trust Impax Environmental Markets (IEM) has entered
the FTSE All Share Index, the only such investment vehicle to do so.
The news has been hailed as a milestone for environmental markets by senior
management at Impax Asset Management (IAM), manager of the trust, which
invests in global water, waste and new energy markets.
“Mainstream investors are now recognising the stable long-term returns
that environmental markets can provide,” said Bruce Jenkyn Jones,
director of IAM. “Our inclusion in the index should expose a much
wider group of investors to the Impax Group and puts environmental markets
firmly on the map.”
“We welcome the fact that an environmental fund has reached a significant
enough size and value to be eligible for inclusion in the FTSE All Share
Index,” said Stephen Hine, head of international relations at the
Ethical Investment Research Service (EIRIS). “The note of caution
we might sound is that it has arrived there purely because it has passed
the technical threshold used to admit it to the Index, but the fact that
an environmental fund has reached that threshold must be a positive thing.”
IEM invests in small and mid cap growth stocks that are active in environmental
markets throughout the world, and has outperformed leading stock market
indices including the FTSE All Share Index and the MSCI World Index over
the last three years.
IAM recently launched The Recycling Fund, a venture capital fund that focuses
on the UK recycling sector, and the company is also the founder of the ET50,
an index of the 50 largest pure play environmental investment vehicles operating
worldwide. Over the past year Impax Group has increased the funds under
management to more than £300 million, and the Group’s share
price has tripled since August last year.
“Our share price performance reflects market confidence in our ability
to win returns for our investors from various funds,” said Ian Simm,
chief executive at Impax Group. “With rising concern over climate
change, energy prices, security of energy supply, the lack of clean water
and wastage of resources, companies active in environmental markets are
rapidly increasing shareholder value.”
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