Fund raising

20 Sep 2007 11:01

Impax Group PLC20 September 2007 Impax Group plc New Impax fund raisings point to strong demand for environmental investing September 20th 2007 Impax Group plc ("Impax"), the AIM listed investment management company, hastoday announced two successful fund raisings, taking the funds managed oradvised by its wholly owned subsidiary, Impax Asset Management Ltd ("IAM"), toover £930 million. Impax Environmental Markets plc This morning, Impax Environmental Markets plc ("IEM"), an environmentalinvestment trust listed on the London Stock Exchange ("LSE") that is managed byIAM, held an Extraordinary General Meeting at which a vote was passed to issue£105 million of subscriptions for C Shares. It is expected that these shareswill begin trading on September 21st 2007. The addition of the C Shares willtake the aggregate net assets of IEM to over £370 million, reinforcing thetrust's position as the leading closed end fund investing in the environmentalsector. IEM invests predominantly in small and mid cap growth stocks active inenvironmental markets throughout the world. Over the past 4 years, IEM hasoutperformed the FTSE All Share Index by 35 percentage points. New Large/Mid Cap Fund Impax has also announced today that it has been appointed as investment adviserto the DIAM World Environmental Business Fund (the "DIAM Fund"), a new fund thatwill invest in a portfolio of mid-cap and large-cap stocks active inenvironmental markets. The DIAM Fund, which is incorporated in Japan, is anopen-ended public fund managed by DLIBJ Asset Management and DLIBJ AssetManagement International and has raised Yen 6.2 billion (£27 million). Ian Simm, Chief Executive of Impax Group plc, commented: "The further expansionof our investment trust and the launch of the new fund in Japan reflect thestrong demand from investors for exposure to environmental markets. Over thepast twelve months, Impax has doubled its funds under management, making it oneof Europe's largest and most experienced investors in this high growth sector ofthe economy." EnquiriesImpax Group:Ian Simm 020 7432 2619Bruce Jenkyn-Jones 020 7432 2618 Landsbanki Securities (UK) LimitedBen Money-Coutts 020 7426 9000Simon Robinson 020 7426 9000 Carbon International PRClare Brook 020 7586 8096David Hopkins 020 7586 6641 This information is provided by RNS The company news service from the London Stock Exchange