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IFSL Impax Environmental Leaders Fund celebrates first anniversary

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Impax Asset Management, an investment manager focused exclusively on the environmental markets sector, says its Environmental Leaders Fund has outperformed the MSCI World Index by 1.2 p

Impax Asset Management, an investment manager focused exclusively on the environmental markets sector, says its Environmental Leaders Fund has outperformed the MSCI World Index by 1.2 per cent and the FTSE Environmental Opportunities All Share Index by 3.2 per cent in the year since its launch.

In December 2008 IFSL Impax Environmental Leaders outperformed the MSCI World Index by 4.05 per cent and in January 2009 by 4.5 per cent. This was helped by the larger, more liquid names in the portfolio.

The fund, a UK open ended investment company designed for retail and institutional investors, was launched in March 2008. It focuses on three key environmental sub-sectors: alternative energy and energy efficiency; water treatment and pollution control and waste technologies and resource management.

IEL invests in medium to large cap companies focused on developing products and services in the environmental sector, including those establishing environmental divisions.

Ian Simm, chief executive of Impax, says: "IFSL Impax Environmental Leaders was launched last year to reflect the changing nature of environmental markets. Big business has woken up to the potential of this sector and we have seen a surge in the number of companies developing environmental divisions, products and services.

‘The size of these companies means they can achieve economies of scale, apply relatively low cost of capital and deliver strong earnings growth. This isn’t a passing trend but long term thinking as companies react to a combination of strengthening environmental policy, increasing scarcity of fossil fuels and heightened climate change awareness."

IFSL Impax Environmental Leaders invests globally in quoted companies which have a market capitalisation of at least USD500m. These companies must derive at least 20 per cent of their revenues or profits from, or have at least 20 per cent of their capital invested in, the environmental sector.

The FTSE Group and Impax launched the FTSE Environmental Opportunities All Share Index in June 2008.

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