Business
Fund raising
Fund raising.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n Impax Group PLC\n20 September 2007\n\n\n\nImpax Group plc\n\nNew Impax fund raisings point to strong demand for environmental investing\n\nSeptember 20th 2007\n\nImpax Group plc ('Impax'), the AIM listed investment management company, has\ntoday announced two successful fund raisings, taking the funds managed or\nadvised by its wholly owned subsidiary, Impax Asset Management Ltd ('IAM'), to\nover £930 million.\n\nImpax Environmental Markets plc\n\nThis morning, Impax Environmental Markets plc ('IEM'), an environmental\ninvestment trust listed on the London Stock Exchange ('LSE') that is managed by\nIAM, held an Extraordinary General Meeting at which a vote was passed to issue\n£105 million of subscriptions for C Shares. It is expected that these shares\nwill begin trading on September 21st 2007. The addition of the C Shares will\ntake the aggregate net assets of IEM to over £370 million, reinforcing the\ntrust's position as the leading closed end fund investing in the environmental\nsector.\n\nIEM invests predominantly in small and mid cap growth stocks active in\nenvironmental markets throughout the world. Over the past 4 years, IEM has\noutperformed the FTSE All Share Index by 35 percentage points.\n\nNew Large/Mid Cap Fund\n\nImpax has also announced today that it has been appointed as investment adviser\nto the DIAM World Environmental Business Fund (the 'DIAM Fund'), a new fund that\nwill invest in a portfolio of mid-cap and large-cap stocks active in\nenvironmental markets. The DIAM Fund, which is incorporated in Japan, is an\nopen-ended public fund managed by DLIBJ Asset Management and DLIBJ Asset\nManagement International and has raised Yen 6.2 billion (£27 million).\n\nIan Simm, Chief Executive of Impax Group plc, commented: 'The further expansion\nof our investment trust and the launch of the new fund in Japan reflect the\nstrong demand from investors for exposure to environmental markets. Over the\npast twelve months, Impax has doubled its funds under management, making it one\nof Europe's largest and most experienced investors in this high growth sector of\nthe economy.'\n\nEnquiries\nImpax Group:\nIan Simm 020 7432 2619\nBruce Jenkyn-Jones 020 7432 2618\n\nLandsbanki Securities (UK) Limited\nBen Money-Coutts 020 7426 9000\nSimon Robinson 020 7426 9000\n\nCarbon International PR\nClare Brook 020 7586 8096\nDav...