By Max Clarke
The growing importance of the green economy has again been evidenced by the environmentally focused asset management group, Impax, delivering record mid-year asset growth.
The green investors saw a 30% surge in their assets under management- reaching £2,362 million at the end of March 2011.
“Developments of the past few months, particularly unrest in the Middle East, damage to the Fukushima nuclear reactors and China’s adoption of a new Five Year Plan, have significantly strengthened the prospects for investors in environmental markets,” said Impax’ Chief Executive, Ian Simm.
The Group’s alternative green hedge fund grew to €297 million, while pre-tax profits for the half grew to £2.05 million.
Continued Simm: “These results provide further evidence that Impax continues to make progress in building out its franchise as a high quality investment manager serving investors who are seeking exposure to these opportunities.
“Given the attractive valuations of companies active in environmental markets, I am confident that Impax is well positioned to leverage its strong distribution network and attract further funds to manage.”