Business
Launch of new fund
Launch of new fund.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n RNS Number : 2251B Impax Group PLC 22 October 2009 \n \nFor immediate release\n22 October 2009\n\nImpax Group PLC\n\nImpax Asset Management Group plc announces successful IPO of Impax Asian Environmental Markets plc with £104.5m of gross proceeds \n\n\nImpax Asset Management Group plc1 (the \"Company\"), the specialist environmental investment manager, is pleased to announce today that Impax Asian Environmental Markets plc ('the Fund') has raised gross proceeds of £104.5m in a Placing and Offer for Subscription. The Fund's investment manager is Impax Asset Management Limited, the Company's trading subsidiary.\n\nThe Fund is a new closed-ended investment trust formed to enable shareholders to benefit from the rapid and sustained growth anticipated from companies active in the environmental sector that are based in the Asia-Pacific region, particularly China, Japan, India, South Korea, Malaysia, Philippines, Thailand, Taiwan, Australia and New Zealand.\n\nThis successful IPO adds further to the Company's assets under management, which were c. £1.25 billion as of 30 September 2009 and have subsequently increased through a new mandate from a European institutional investor to manage up to €150m. \n\nIan Simm, Chief Executive Officer of Impax, added: \n\n\"We are delighted by the positive response Impax Asian Environmental Markets plc has received from investors. The successful IPO is further evidence of investor interest in environmental markets remaining high. With a strong track record, a highly qualified and committed investment team and powerful distribution partners, Impax is well positioned for further growth.\"\n\n\n1 The name change from Impax Group plc to Impax Asset Management Group plc was approved by shareholders and is awaiting approval from Companies House\n\n\nEnds \nEnquiries:\n\n\n\n\n\nImpax Asset Management Group plc1\n\n\n\n\n\n\n\nIan Simm, Chief Executive\n\n\n0207434 1122\n\n\n\n\n\n\n\n\n\n\n\n\nNoble & Company Limited\n\n\n020 7763 2200\n\n\n\n\nJohn Riddell, Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPenrose Financial \n\n\n\n\n\n\n\nGay Collins\n\n\n020 7786 4882 [email protected]\n\n\n\n\nShona Prendergast\n\n\n020 7786 4884 [email protected]\n\n\n\n\nClare Milton  ...