Impax Environmental Markets (ticker: IEM) was launched in 2002 and grew rapidly after a succession of share issues in the mid-2000s. It invests globally and focuses on fast-growing mid- and small-cap companies that "enable the cleaner and more efficient delivery of basic needs or mitigate environmental risks like pollution and climate change". Up until this year, it has been managed by Bruce Jenkyn-Jones and Jon Forster, but it is now led by the team of Fotis Chatzimichalakis and Sanjeev Lakhani. Annual returns since inception have been 7.3%, roughly a percentage point a year behind both globa...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
Impax Environmental Markets (ticker: IEM) was launched in 2002 making it one of the first ESG funds. Two of its three co-managers have been in charge since its IPO and it has a style bias towards global small- and mid-caps and also towards quality and growth factors. The trust prefers pure-play businesses that derive at least 50% of their revenues from environmental products or services and it typically holds around 60 stocks with low-ish portfolio turnover and minimal gearing. The popularity of ESG investing saw Impax Environmental rise to a significant premium in 2020 and 2021 although it's ...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
© 2026 Money Makers