Impax Environmental Markets Trust Plc

Specialist

Rated Fund 2013-2018. Benefits from global move to environmental protection

This trust's objective is to enable investors to benefit from growth in the markets for cleaner and more efficient energy, water and waste services. Launched in 2002, it is run by Jon Forster and Bruce Jenkyn-Jones of specialist environmental markets manager Impax, who are recognised experts in this field. When seeking investments, the managers look for companies with superior earnings growth trading at a reasonable valuation.Most of their investments are in North America (44 per cent at the end of 2017), but Europe (31 per cent) and Asia (17 per cent) are other areas of focus for their portfolio of 60 holdings. They point to rapid increases in population, an expanding middle class, increasing urbanisation and substantial infrastructure requirements all driving growth opportunities in environmental companies in emerging markets, often at attractive valuations versus developed countries. They find India a particularly interesting opportunity.With awareness of climate change and other environmental issues increasing, the managers have seen their investment universe expand � to around 1,100 companies compared to 250 in 1999. At the same time, they say that investor appetite for new technologies and companies that provide solutions for environmental challenges continues to rise.Whitechurch Securities rates the management team's near 20-year tenure in running this kind of fund and added it to its higher-risk ethical portfolios in mid 2017. Rowan Dartington, another wealth manager, also uses the strategy amid what it sees as a global move to environmental protection.

Its shares can be picked up at a discount too � as wide as 15 per cent over the past three years, and just below 9 per cent at the end of 2017.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
Impax Environmental Markets Trust Plc
Manager
Impax Asset Management Group PLC
Type
Closed Ended Investment Company
ISIN
GB0031232498
Sector
Sector Specialist: Environmental
Launched
22/02/2002
OCF
1.05 %
Risk Rating
3
3 Year Sharpe
1.69
3 Year Alpha
6.33
Yield
0.9 %
Benchmark
FTSE ET100 NR USD
Fund Size
£ 493.31 million
NAV
288
Gearing
105
Discount Premium
-5
The Company enables investors to benefit from rapid and sustained growth anticipated by the Directors in the markets for cleaner or more efficient delivery of basic services of energy, water and waste. Investments are predominantly in quoted companies which provide, utilise, implement or advise upon technology-based systems, products or services in environmental markets, particularly those of alternative energy and energy efficiency, water treatment and pollution control, and waste technology and resource management.
Holding %
EDP Renovaveis SA 2.94 %
Brambles Ltd 2.82 %
Zhuzhou CRRC Times Electric Co Ltd H 2.47 %
Tomra Systems ASA 2.38 %
Eurofins Scientific SE 2.31 %
Advantech Co Ltd 2.30 %
Power Integrations Inc 2.28 %
Generac Holdings Inc 2.26 %
Arcadis NV 2.20 %
American Water Works Co Inc 2.20 %
Region %
United States 40.02 %
Eurozone 18.42 %
Asia - Emerging 11.90 %
United Kingdom 8.78 %
Europe - ex Euro 7.93 %
Sector %
Industrials 41.93 %
Technology 25.05 %
Utilities 12.72 %
Basic materials 9.53 %
Name
Impax Asset Management Group PLC
Address
SW1Y 4JR, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Bruce Jenkyn-Jones
Joined 02/22/2002

Mr. Jenkyn-Jones is the Managing Director of the Listed Equity team and oversees Impax's long-only investment strategies. Bruce is responsible for the development of the investment process, research and team development. He also has an active role in the day to day management of all Impax listed equity portfolios. Bruce joined Impax in 1999 where he worked initially on venture capital investments before developing the listed equity business.

Jon Forster
Joined 02/22/2002

Data provided by Morningstar.

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