Last checked at 
(Alliance News) - Impax Environmental Markets PLC on Wednesday outperformed its comparators in the first half of 2021 and expressed confidence in its outlook despite valuation challenges.
London-based Impax is a trust that invests in small to mid cap companies deriving at least 50% of their revenue from environmentally friendly goods and services.
Net asset value total return for the six months ended June 30 was 13.5% compared to 11.1% for the MSCI All Country World index and 1.7% by the FTSE Environmental Technology 100 index.
NAV jumped 13% to 465.6 pence per share on June 20 from 411.2p as at December 31.
"I am happy to report a further period of strong performance by Impax Environmental Markets in the first six months of 2021. IEM was again ahead of its global equity comparator index, the MSCI All Country World index, over the period, building upon the outperformance seen in 2019 and 2020," said Chair John Scott.
Going forward, Impax noted valuation challenges exist in certain sectors, but it continues to find "attractive new and differentiated" investments and takes comfort from a very well diversified portfolio.
"We remain convinced of the long-term growth potential offered by companies in environmental markets which offer solutions to critical sustainability challenges facing the global economy," the company added.
Shares in Impax Environmental were up 0.2% to 490.59 pence each in London on Wednesday morning.
By Amrit Sahota; newsroom@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.