Impax Asset Management, a UK environmental fund manager listed on the AIM market for smaller companies, increased assets under management by 44% to £1.823bn according to its audited results for the full year to 30 September announced today.
There was also a post year-end further increase in assets to £2.251bn by 31 December 2010.
Revenues were up 48% to £15.3m and profit before tax was £5.2mn, boosted by £1m from the redemption of a loan note.
The firm said long-only listed equity strategies managed by Impax have, on average, returned 69.3% over five years to 31 December 2010 compared to 23.6% for the MSCI World Index.
Keith Falconer, chairman, said: “The backdrop to environmental investing has continued to strengthen over the past 12 months as governments around the world have declared ambitious policies to reduce pollution, improve energy security and stimulate the growth of domestic clean technology sectors.”
Evidence continues to build that the environmental sector is growing more rapidly than the overall economy, added Falconer.
©2011 funds europe
