LONDON (Alliance News) - Impax Environmental Markets PLC on Wednesday said it performed better than its benchmarks ahead of a vote on whether it should continue as an investment trust for a further three years at its upcoming annual meeting of shareholders.
The investment trust, which invests in companies within energy efficiency, alternative energy, water, waste and sustainable food and agriculture markets, said its net asset value per share total return was 6.0% in 2015. Its NAV per share ended the year at 178.6 pence.
During 2015, Impax Environmental Markets' share price total return was 5.8% and ended the year at 160p.
The trust outperformed its global comparator index, the MSCI All Countries World Index, which rose 3.3% on a total return basis in sterling over the period. Impax Environmental Markets' environmental comparator index, the FTSE ET100, returned 5.0% over the period.
"In accordance with the Articles of Association of the company, an ordinary resolution that the company continues as an investment trust for a further three year period will be proposed at the forthcoming AGM. The board strongly believes that IEM offers an attractive opportunity for investors to obtain exposure to environmental and resource efficiency markets and recommends that shareholders vote in favour of the resolution," the trust said.
"Since the start of 2016, equity markets have been volatile but the company's portfolio has proved resilient," the trust said. From January 1 to March 18, its NAV rose 6.4% and the share price by 4.8%. During that period the MSCI ACWI and FTSE ET100 indices both gained by 1.4%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Impax Asset Management (IEM)