Assets increase for eco-fund manager Impax

ENVIRONMENTAL investment fund Impax Asset Management has seen its assets under management (AUM) grow by 44 per cent to £1.8bn.

The company said it believed the environmental sector would benefit from the continued
economic recovery and from governments’ focus on investing in green technologies.

Full-year accounts for the company in the year to 30 September 2010 saw AUM shoot to £1.8bn, with a further AUM increase to £2.2bn by the end of December.

Impax chief executive Ian Simm said: “Our conclusion is that it’s been a very strong year and we’re delighted our eco business model has delivered strong growth.

“With the improving economic outlook and return of interest in equities we are cautiously optimistic for 2011. The fundamentals of our sector are such that if industrial capital expenditure is improving, and if energy prices are rising, then our sector typically does well.”

Shares in the fund carry a “buy” recommendation from analysts at Espirito Santo.

Impax shares rose on the London Stock Exchange yesterday. They closed up 5.1 per cent higher at 71p per share.