Impax Asset Management Group Plc · LSE:IPX
Impax Asset Management — Shareholder Meeting (March 2011)
19 slides from Impax Asset Management's shareholder meeting presentation, Mar 2, 2011
Slide 1: Impax Asset Management Group plc AGM Presentation
Impax Asset Management Group plc AGM Presentation 2 March 2011 Pegasus House 37-43 Sackville Street London W1S 3EH UK Tel: +44 (0)20 7434 1122 Fax: +44 (0)20 7437 1245 Impax Asset Management Ltd is authorised and regulated by the Financial Services Authority
Slide 2: Impax Overview: A Compelling Business Proposition
Impax Overview: A Compelling Business Proposition • Attractive sector for specialist investment managers - Environmental policy addressing unsustainable economic development globally - 1400+ quoted companies growing rapidly, US$500 billion+ (annual revenues) - Growing evidence that institutions are
Slide 3: Diverse, High Growth Markets
Diverse, High Growth Markets Renewable & Alternative Energy Energy Efficiency Renewable Solar Energy Wind Power Biofuels Other Power Industrials Buildings Transport Energy Generation Generation Renewables Network Energy Energy Energy Developers Equipment Equipment Equipment Efficiency Efficiency Eff
Slide 4: FTSE's Partner for Environmental Indices
FTSE’s Partner for Environmental Indices • Growing demand for sector indices • Impax ET50 Index operating since 1999 • Impax-FTSE partnership established in 2007 • FTSE now marketing 18 indices world-wide • Impax revenue share and brand/profile benefits 4
Slide 5: Extensive Sector Expertise
Extensive Sector Expertise Keith Falconer Ian Simm Charlie Ridge • Chairman since 2004 • Chief Executive • CFO • 30 years investment • 20 years sector • 20 years finance expertise expertise (14 at expertise (2 at Impax) Impax) • Ex Martin Currie • Accountant, ex • Physicist, ex McKinsey Deutsche Ban
Slide 6: Strong Institutional Investor Relationships
Strong Institutional Investor Relationships Consultants Investors in pooled vehicles + > 100 other institutions White label funds Investors in segregated accounts European Institution 6
Slide 7: Well-Placed Distribution Partners
Well-Placed Distribution Partners UK: United States: - Collins Stewart - Pax World - plus direct sales - Titanium Asset Management Continental Europe: - BNP Paribas Investment Asia/Australia: Partners - BNP Paribas Investment - ASN Bank Partners - DIAM (Japan) 7
Slide 8: Environmental Markets: Highlights in 2010
Environmental Markets: Highlights in 2010 • Positive policy developments - China: 15% of power from renewables by 2020 - India: 10% of power from renewables by 2015 - Cancún conference: climate change negotiations back on track - Europe: subsidy programmes extended in Germany, UK, Italy • Negative p
Slide 9: FYE 30/09/10 – Financial Highlights
FYE 30/09/10 – Financial Highlights • Assets under management (“AUM”) up 44% to £1,823 million (2009: £1,263 million) • Post year end, further increase in AUM to £2,251 million by 31 December 2010 • Revenues up 48% to £15.3 million (2009: £10.4 million) • Profit before tax £5.2 million (2009: £2.5 m
Slide 10: FYE 30/09/10 – Commercial Highlights
FYE 30/09/10 – Commercial Highlights • Successful product launches - Impax Asian Environmental Markets (long-only) - Impax New Energy Investors II (private equity) • More recently established strategies performing well - Environmental Leaders - Water • Five new segregated account mandates won • Furt
Slide 11: Impax Investment Universe & Product Range
Impax Investment Universe & Product Range Typical # of Geographic Market cap of Strategy stocks/ Benchmark Listed Equities scope universe investments launched ENVIRONMENTAL LEADERS* Listed Equity Universe of c.1400 companies Global c.US$4tn 40-60 Mar 2008 MSCI World Investment Universe ENVIRONMENTAL
Slide 12: Strategy Performance (to 31/12/10) in GBP
Strategy Performance (to 31/12/10) in GBP 5Y 3Y 1Y 1 year volatility Forward PE Environmental Specialists 65.4% 15.2% 12.0% 18.0% 15.6 Environmental Leaders N/A N/A 15.1% 17.5% 15.6 Asia-Pacific N/A N/A 26.4% 14.8% 15.4 Water N/A N/A 20.3% 16.2% 16.9 FTSE World Index 32.7% 13.8% 16.3% 16.2% 13.8 FTS
Slide 13: Impax AUM Breakdown
Impax AUM Breakdown Investment strategy AUM (£) 31/12/10 AUM (£) 30/09/10 AUM (£) 30/09/09 Environmental Specialists 1.2bn 1.0bn 843m - Impax Environmental Markets plc 451m 409m 376m - Impax Environmental Markets (Ireland) 223m 215m 190m - Third Party funds/accounts 493m 424m 277m Environmental Lead
Slide 14: Significant New Accounts
Significant New Accounts • Impax Asian Environmental Markets plc - £104.5m IPO in October 2009 - Successful £131m C Share fund raise in October 2010 • New Institutional Accounts - Second account for Russell Investments (October 2009) - €150m mandate from European institutional investor (fully funded
Slide 15: Diversified, Stable Client Base: Impax Label Funds at FYE
Diversified, Stable Client Base: “Impax Label” Funds at FYE £1,008m £705m Others 5% 2% 13% Multi Managers 11% Other Institutions 19% 23% Insurance Companies 12% 10% Pension Funds 19% 20% Private Client Managers 34% 32% 2010 2010 2009 2009 15
Slide 16: Increase in AUM by Geographic Region (Source of Funding)
Increase in AUM by Geographic Region (Source of Funding) Principal funds/partners • Impax Environmental Markets plc UK/Ireland £626m +£302m • Impax Environmental Markets (Ireland) • Impax Asian Environmental Markets plc • Impax Asian Environmental Markets (Ireland) • BNP Paribas Investment Partners
Slide 17: Private Equity: Successful Launch of Second Fund
Private Equity: Successful Launch of Second Fund • Significant investment opportunity - Substantial need across the EU to fund construction of renewable power plants - Investment in projects offering stable, long-term, inflation-protected cashflow - Considerable “proprietary” deal flow from Impax ne
Slide 18: Outlook
Outlook • Environmental sector drivers set to strengthen - Growing urgency to address global warming - Roll-out of “green” infrastructure in Asia - Beneficiary of improving economic conditions • Environmental sector funds attracting investor and consultant interest • Impax business model positioned
Slide 19: Disclaimer
Disclaimer This document has been prepared by Impax Asset Management Group plc and approved by Impax Asset Management Limited (Impax, authorized and regulated by the Financial Services Authority). The information and any opinions contained in this document have been compiled in good faith, but no re
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