Impax Environmental Markets Sees Mixed Performance Against Benchmarks

LONDON (Alliance News) - Impax Environmental Markets PLC said on Wednesday it outperformed its global comparator index during 2017, but lagged its environmental comparator index.

As at December 31, the company said its net asset value per share totaled 281.55 pence, up from 243.43p at the same date a year earlier.

The company said its net asset value per share total return for the period was 16.4%, with its share price total return 18.7%, outperforming its global comparator index, the MSCI AC World Index, which returned 13.2% return.

However, the company "slightly lagged" its environmental comparator index, with the FTSE ET100 Index returning 20.2% over the period.

This was largely due to the decision not to hold Tesla - the largest constituent of the FTSE ET100, representing some 10% - which Impax Asset Management Ltd, the manager, "still believes to be overvalued".

Shares in the company closed up 0.2% at 250.00 pence on Wednesday.