Overview
Impax Environmental Markets’ objective is to enable investors to benefit from growth in the markets for cleaner or more efficient delivery of basic services of energy, water and waste. Investments are made 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 infrastructure and technologies and pollution control, and waste management and technologies and environmental support services.
The fund’s website can be found here
Fundamentals
Price
Research History
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09 Jun 2026 5 min read
Impax Environmental Markets – The endgame?
The endgame? Impax Environmental Markets (IEM) has produced poor investment performance and is under pressure from activist hedge fund Saba Capital. In May, an exit tender offer saw about 80% of shares tendered. The fund, now much smaller, faces a Requisitioned General Meeting (RGM) on 17 June, where Saba aims to replace the entire IEM […]
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5 min read
Impax Environmental Markets – The endgame?
The endgame? In the midst of a period of difficult investment performance, Impax Environmental Markets (IEM) has been the subject of a campaign by the activist hedge fund Saba Capital. This led to an exit tender offer in May, which resulted in around 80% of shares being tendered. The much-diminished fund is now the subject […]
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08 May 2025 16 min read
Impax Environmental Markets – Significant headwinds, but still value
Significant headwinds, but still value Rising interest rates, a fixation on mega-cap AI stocks, and the election of a US administration that would rather “drill, baby, drill” than address the increasingly obvious and damaging effects of climate change have all combined to turn sentiment against the environmental sector. However, as IEM’s board and managers emphasise, […]
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17 min read
Impax Environmental Markets – Significant headwinds, but still value
Significant headwinds, but still value Rising interest rates, a fixation on mega-cap AI stocks, and the election of a US administration that would rather “drill, baby, drill” than address the increasingly obvious and damaging effects of climate change have all combined to turn sentiment against the environmental sector. However, as Impax Environmental Market’s (IEM’s) board […]
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16 min read
Impax Environmental Markets – Significant headwinds, but still value
Significant headwinds, but still value Rising interest rates, a focus on mega-cap AI stocks, and the election of a US administration that has set out to “drill, baby, drill”, rather than address the damaging effects of climate change appear to have contributed to negative sentiment towards the environmental sector. However, as IEM’s board and managers […]
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03 Dec 2024 14 min read
Impax Environmental Markets – Delayed but not derailed?
Delayed but not derailed? The interest rate cuts that many have been hoping for have materialised, to the benefit of growth-focused strategies such as that of Impax Environmental Markets (IEM). However, the route to a more sustainable world may have been made harder by the election of a new US President who seems set on […]
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14 min read
Impax Environmental Markets – Delayed but not derailed
Delayed but not derailed The interest rate cuts that we had been hoping for have materialised, to the benefit of growth-focused strategies such as that of Impax Environmental Markets (IEM). However, the route to a more sustainable world has been made harder by the election of a new US President who seems set on rolling […]
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14 min read
Impax Environmental Markets – Delayed but not derailed
Delayed but not derailed The interest rate cuts that we had been hoping for have materialised, to the benefit of growth-focused strategies such as that of Impax Environmental Markets (IEM). However, the route to a more sustainable world has been made harder by the election of a new US President who seems set on rolling […]
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13 Sep 2024 1 min read
Interview with Jon Forster from Impax Environmental Markets
In this week’s show, James Carthew spoke to Jon Forster from Impax Environmental Markets. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer […]
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03 Jun 2024 22 min read
Impax Environmental Markets – Sustainable long-term growth
Sustainable long-term growth Impax Environmental Markets (IEM) invests in good-quality, fast-growing companies that are providing innovative solutions to environmental challenges or improving resource efficiency. The pace of change may be slower in some countries than others and, overall, slower than many of us would like, but it is inexorable, which underpins an attractive long-term outlook […]
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22 min read
Impax Environmental Markets – Sustainable long-term growth
Sustainable long-term growth Impax Environmental Markets (IEM) invests in good-quality, fast-growing companies that are providing innovative solutions to environmental challenges or improving resource efficiency. The pace of change may be slower in some countries than others and, overall, slower than many of us would like, but it is inexorable, which underpins an attractive long-term outlook […]
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21 min read
Impax Environmental Markets – Sustainable long-term growth
Sustainable long-term growth Impax Environmental Markets (IEM) aims to invest in good-quality, fast-growing companies that are providing innovative solutions to environmental challenges or improving resource efficiency. The pace of change may be slower in some countries than others and, overall, slower than many of us would like, but IEM’s managers believe that it is inexorable, […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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04 Aug 2023 1 min read
Interview with Fotis Chatzimichalakis from Impax Environmental Markets
In this week’s show, James Carthew spoke to Fotis Chatzimichalakis from Impax Asset Management, a portfolio manager of Impax Environmental Markets. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us […]
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07 May 2020 4 min read
QuotedData’s Economic Roundup – May 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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11 Sep 2019 3 min read
QuotedData’s economic roundup – September 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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08 May 2019 4 min read
QuotedData’s economic roundup – May 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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15 Aug 2018 1 min read
QuotedData’s Economic round up – August 2018
QuotedData’s Economic round up – August 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
News
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20 Jul 2026 2 min read
Impax Environmental Markets launches search for new manager
The newly appointed board of Impax Environmental Markets (IEM), elected following Saba Capital’s successful campaign to replace the trust’s previous directors in June, has moved swiftly to terminate the trust’s investment management agreement with Impax Asset Management. The current manager has a contractual 12-month notice period, but the board has asked Impax Asset Management to […]
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03 Jul 2026 4 min read
Good news as regulator queues up positive changes
Like buses – you wait around for regulatory changes to go your way, and then three come along at once. Well, I’m stretching that a bit, because the win on the Pensions Bill was back on 29 April 2026, but then last week the FCA launched a consultation on related party transactions between boards and […]
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18 Jun 2026 3 min read
Spotlight falls on Impax Environmental Markets’ new board as Saba boss Boaz Weinstein urges his “independent” nominees to appoint a new manager
Saba Capital has moved quickly to urge the new board of Impax Environmental Markets (IEM) to appoint a new fund manager in place of Impax Asset Management. The US activist hedge fund, which holds over 31% of the shares following the recent exit tender offer the former board offered shareholders as an escape route from […]
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17 Jun 2026 3 min read
Morning briefing: Impax Environmental admits Saba will win control today; Saba ups SDCL stake before share plunge; Odyssean flags UK smaller company recovery after 25% return; Rockwood spies “exceptional” small-cap value; Tritax Big Box agrees second data centre build
Impax Environmental Markets (IEM) has conceded defeat in its battle with Saba Capital, acknowledging that the activist hedge fund, which holds over 31% of its shares after the recent exit tender offer, will succeed in replacing the board at the annual and extraordinary general meetings being held today. Chair Glen Suarez said: “And here we […]
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26 May 2026 2 min read
Impax Environmental directors refuse to step down as board urges shareholders to vote against Saba’s bid for control
Impax Environmental Markets (IEM) has urged its reduced band of shareholders to vote against the new board of directors that activist hedge Saba Capital wants to impose. Acknowledging that New York-based Saba was in a strong position with a 31.4% stake in the company following this month’s 80% exit tender offer, chair Glen Suarez said […]
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20 May 2026 2 min read
Morning briefing: Impax Environmental completes exit tender, Baillie Gifford Japan seeks buyback authority renewal, BlackRock Energy and Resources Income benefits from energy transition and mining stocks, and HOME releases interims
Impax Environmental Markets (IEM) has completed its exit tender offer, repurchasing just over 148.2m shares, all of which will be cancelled. As previously announced, the scale of the tender – which was designed to give shareholders the opportunity to exit and avoid being trapped in a vehicle controlled by Saba Capital – dramatically shrinks the […]
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15 May 2026 4 min read
Activism is important but be constructive
The past month has seen a number of significant triumphs for Saba Capital’s aggressive brand of activism. Herald Investment Trust (HRI) had to be rescued by Aberdeen, with Saba winning a partial tender offer. The activist investor also won Edinburgh Worldwide (EWI), having ousted the chair and five board members. Impax Environmental Markets (IEM) has […]
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2 min read
Morning briefing: Impax Environmental sets share price for £738m exit tender; GRID gets export agency backing; ex-Patria chair joins HVPE board; Value and Indexed Property buys Esher cinema on 9% yield
Impax Environmental Markets (IEM) will buy back shares sold in the £738m exit tender offer last month at 494.76p each. The investment trust, whose board activist hedge fund Saba is seeking to replace, said all 148.2m shares validly tendered would be accepted and bought by its broker Winterflood next Tuesday. Payments and cheques will be […]
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14 May 2026 2 min read
Morning briefing: Aberdeen says UK still faces recession risk despite first quarter growth; Uzbekistan fund raises $604m; Saba refiles Impax requisition after nominee error
The UK economy delivered a surprisingly solid performance in the first quarter with 0.3% growth in March lifting gross domestic product by 0.6% in the first three months of the year, led by a rebound in retailing and construction. The Office for National Statistics said there were signs that consumers and businesses had brought forward […]
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27 Apr 2026 2 min read
Impax Environmental Markets: Three important questions – starting with “How exactly did Saba end up with 29.9%?”
Saba Capital, the activist hedge fund, has requisitioned a general meeting of shareholders to remove the board of Impax Environmental Markets (IEM). The US firm emerged with a powerful 29.9% stake in the £832m investment trust last week following an exit tender offer organised by the board that saw nearly 78% of the shares put […]
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22 Apr 2026 1 min read
Morning briefing: Impax Environmental Markets will engage constructively with Saba; plus AEET, MGCI
Impax Environmental Markets (IEM) has responded to the statement from Saba Capital yesterday that it holds 29.9% of the trust, saying that IEM’s tender offer remains on track, allowing shareholders who elected to tender to exit close to NAV. IEM’s board has reiterated that Saba did not confirm its tender elections ahead of the deadline, […]
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21 Apr 2026 3 min read
Impax Environmental admits Saba will take control after activist emerges from exit tender with 29.9% stake demanding board quit
Update: Impax Environmental Markets (IEM) has conceded that Saba Capital will have “effective control” of the investment trust following the completion of the exit tender offer from which the activist hedge fund will emerge with a 29.9% stake. The holding, which will increase from the current 21%, puts Saba in a powerful position to replace […]
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20 Apr 2026 2 min read
Impax Environmental Markets considers its future after investors, including Saba, sell 78% of the trust’s shares
Impax Environmental Markets (IEM) is considering its future after 77.8% of shares in the £825m investment trust were put up for sale in last week’s exit tender offer. Analysis by the board indicates that Saba, the hostile hedge fund that was threatening to take over the company, tendered its 21% stake despite apparently not voting […]
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16 Apr 2026 1 min read
Impax Environmental shareholders approve 100% exit tender in bid to escape Saba control
Shareholders in Impax Environmental Markets (IEM) have overwhelmingly approved its proposed exit tender offer with 99.97% of those voting at the general meeting today in favour of the proposal, which will now go ahead. The turnout was surprisingly low for such an important question, with just 46.1% of IEM’s shares voted. That suggests to us […]
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10 Apr 2026 2 min read
Impax AM shares crash as loss of Environmental Markets trust heightens concern over asset outflows
Shares in Impax Asset Management (IPX) plunged 25% today after investors reacted to further outflows from the sustainable investment group worsened by the impending loss of Impax Environmental Markets (IEM). IPX dropped 31.4p to 94.2p, close to a nine-year low, on news that just over £2bn had been withdrawn from Impax funds in the first quarter […]
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09 Apr 2026 1 min read
Impax Environmental Markets: “Vote now” for an escape from Saba or risk being stuck in a fund you don’t want, says chair Glen Suarez
This is an exclusive interview with Glen Suarez, chair of Impax Environmental Markets (IEM), to discuss the urgent situation facing shareholders as the investment trust seeks to avoid being taken over by Saba Capital, the activist hedge fund holding 22% of the shares. The main purpose of the interview was to highlight tomorrow’s deadline of […]
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08 Apr 2026 2 min read
Morning briefing: ISS and Glass Lewis back Impax Environmental exit tender; FTSE confirms Vietnam’s promotion to emerging market; Int’l Biotechnology hails “frenetic dealmaking” after Soleno bid; plus 3i Group, Partners Group, fund outflows
Proxy advisers ISS and Glass Lewis have recommended Impax Environmental Markets (IEM) shareholders vote for the exit tender offer at the general meeting on 16 April which the company wants to give investors an escape from the fund before activist 22% investor Saba Capital takes control. IEM chair Glen Suarez said: “These independent endorsements reinforce […]
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31 Mar 2026 3 min read
Edinburgh Worldwide says “shareholders should not be fooled” as Saba says it wants to run the trust but will offer an exit first
Update: Saba Capital has told Edinburgh Worldwide (EWI) shareholders for the first time that it wants to replace Baillie Gifford as fund manager in a letter to shareholders outlining the exit opportunities it would support if it wins control of the £736m global equities trust at next month’s annual general meeting. Saba said: “In the […]
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30 Mar 2026 2 min read
Impax Environmental says FCA should take Saba threat “damned seriously” as regulator insists trusts use their existing legal powers first
The argument between investments trusts and the City regulator over the Saba crisis has escalated with Glen Suarez, chair of Impax Environmental Markets (IEM), joining Edinburgh Worldwide (EWI) in demanding the Financial Conduct Authority take their calls for intervention against the hostile US hedge fund seriously. Like EWI chair Jonathan Dent-Simpson, Suarez and the IEM […]
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23 Mar 2026 3 min read
Edinburgh Worldwide rejects FCA’s criticism that calls for anti-Saba protections are “self-interested” and “special pleading”
The chair of Edinburgh Worldwide (EWI) has hit out at the Financial Conduct Authority after one of its senior officials said the regulator should not be expected to “pick sides” in investment trusts’ battles with activist hedge fund Saba. Jonathan Simpson-Dent (pictured) said smaller investors needed “meaningful protection” after Simon Walls, interim executive director for […]
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17 Mar 2026 2 min read
Impax Environmental: Vote for your 100% exit from Saba
Impax Environmental Markets (IEM) has followed Edinburgh Worldwide (EWI) in formally launching its 100% tender offer, urging shareholders to vote for and use the exit at net asset value (NAV) to avoid become trapped in a fund controlled by 22.1% holder Saba. Saba, the US activist hedge fund that yesterday forced Edinburgh Worldwide to fall […]
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04 Mar 2026 2 min read
FCA promises to check its rules protect investment company shareholders against dominant investors like Saba
The Financial Conduct Authority has said it will consider how to protect investment company investors from activist shareholders like Saba. Launching a review into its shakeup of UK listing rules two years ago, the FCA said: “As part of this review, we will also conduct targeted work to assess how our rules, in the context of […]
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02 Mar 2026 2 min read
Impax may have to pay up to save Environmental Markets trust after Saba says it would have sold in tender offer if all its costs were met
Impax Environmental Markets (IEM) and fund manager Impax are under pressure to give Saba a cost-free exit after the activist hedge fund said that was the only obstacle to selling its 21% stake in the continuation tender offer last week. In response to an open letter from IEM chair Glen Suarez appealing to Saba founder […]
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27 Feb 2026 2 min read
Investec: Saba’s record as fund manager is a “cautionary tale” for investors in UK trusts the US activist wants to seize
If shareholders in Herald (HRI), Impax Environmental Markets (IEM) and Edinburgh Worldwide (EWI) investment trusts require any reminding of the peril they could face under Saba Capital, they only need look at the “cautionary tale” of the US activist’s record on one of its own funds, says broker Investec. Alan Brierley, head of investment company […]
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4 min read
The ‘inverted pyramid’: winners from new US food guidelines
Impax Environmental Markets: The US government’s action to shift the national diet towards nutrient-rich foods provides tailwinds for companies in ‘real food’ supply chains and reformulation The start of 2026 marks a significant pivot in US federal nutrition policy. By placing ‘real food’ at the centre of new dietary guidelines, the US government is signalling a […]
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3 min read
Impax Environmental Markets urges Boaz Weinstein to be “reasonable” and consider his reputation after Saba puts trust at risk by refusing to sell its stake in tender offer
Impax Environmental Markets (IEM) chair Glen Suarez has published an open letter to Saba boss Boaz Weinstein after his activist hedge fund refused to sell its 21% stake in a continuation tender offer, threatening the future of the £843m investment trust. In the letter Suarez says he was surprised to learn from Saba portfolio manager […]
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24 Feb 2026 1 min read
Impax Environmental gets approval for 100% “continuation” tender offer in first part of its anti-Saba defence
Impax Environmental Markets (IEM) has passed the first hurdle in its effort to escape the clutches of Saba Capital, though, like Herald (HRI), the other investment trust being stalked by the activist hedge fund, its future remains uncertain. Yesterday the unique £831m London-listed investment company got almost unanimous approval from the 38.9% of its shares […]
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11 Feb 2026 2 min read
Morning briefing: Smithson shares suspended after liquidation vote; DL Invest warns of “material loss of value” at ASLI; Maven Renovar mulls shareholder survey; Saba lifts Impax stake before tender vote; plus SHIP, SHRS-AEI, ADIG, BGFD
Smithson (SSON) shares have been suspended after more than 99% of shareholder votes yesterday approved the liquidation of the £1.5bn investment trust ahead of its conversion to the open-ended Smithson Equity Fund. Turnout was low, however, with just 26.9% of shares in the global small-cap portfolio voted. This was the first of two general meetings […]
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10 Feb 2026 1 min read
Saba appoints ex-Singer broker Sir James Waterlow as UK managing director
US activist hedge fund Saba Capital has hired corporate broker Sir James Waterlow, former partner at Singer Capital Markets, to take up a new role of UK managing director. In the new position, Waterlow will work alongside Saba portfolio manager Paul Kazarian who has spearheaded the New York firm’s investments in UK investment companies. The […]
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26 Jan 2026 2 min read
Morning briefing: Impax Environmental publishes anti-Saba defence; Harwood-backed Spire Healthcare soars on £1.5bn bid talks; Develop North appoints chief exec; plus GRI, ASLI, MPO
Impax Environmental Markets (IEM) publishes the circular for its proposed 100% continuation tender offer to get Saba Capital to sell its 20.7% stake close to asset value and leave the unique listed fund for shareholders who want to remain invested. The tender requires over 75% of votes cast at a general meeting on 23 February. […]
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16 Jan 2026 4 min read
Impax Environmental Markets looks to flush out “relentless” Saba with 100% tender offers
Impax Environmental Markets (IEM) is following Herald (HRI) in launching a 100% tender offer in a bid to extricate itself from Saba Capital. The activist hedge fund has built a 20.7%, or £189m, stake in the £763m investment trust and its board fears it is trying to gain control. The exit opportunity, which IEM calls […]
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16 Dec 2025 2 min read
Morning briefing: US Solar details Q3 shortfall; Pantheon Infra’s “strong” quarter; SEQI clears Bulb loan; GSCT interims; plus JEMA, Fidelity, IEM
US Solar Fund (USF), the £107m Amber Infrastructure managed fund standing on a 45% discount, has provided detailed disclosure on the technical, non-weather factors resulting in third quarter generation falling 13.3% below forecast, with just 2.1% due to below forecast solar irradiance. It said the majority of the 11.2% technical variance was attributable to the […]
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28 Nov 2025 4 min read
Inference in industrials: enhancing efficiency through AI adoption
The growing inference capabilities of AI models can enhance business-critical software used by companies to analyse data, automate workflows and optimise processes. Rapid progress in ‘training’ artificial intelligence models paves the way for AI’s deployment in a spectrum of real-world applications. As trained models become capable of independently making decisions or predictions based on new […]
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01 Oct 2025 2 min read
Impax Environmental Markets changes lead fund manager and performance benchmark
Jon Forster is stepping down as co-manager of Impax Environmental Markets (IEM). Forster will step back at the end of the year to become a senior industrials analyst at Impax Asset Management focused on environmental solutions companies. He will continue to contribute investment ideas for the portfolio. Jon is replaced by Sanjeev Lakhani, who joined […]
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08 Aug 2025 2 min read
Morning briefing: KKR says its Assura offer beats PHP; Third Point rebels urge VoteCo to abstain; plus GRID, GFS, IEM, TRIG, IRES, PPET & JARA
Private equity group KKR fights back in bid battle for GP surgeries landlord Assura, Third Point investors group demands independent vote on the controversial merger with Malibu reinsurance company, plus news and updates from Gresham House and Gore Street battery funds, Renewables Infrastructure Group, Impax Environmental Markets, Patria Private Equity, Irish Residential REIT and JPMorgan […]
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06 Aug 2025 4 min read
Morning briefing: GRID pays away 10% of revenues, Foresight Environmental limits power price falls and Abrdn European Logistics announces second £50m payout
Our daily roundup includes results and updates from Tritax Big Box, Impax Environmental Markets and Target Healthcare. GRID signs last “floor” agreement Gresham House Energy Storage Fund (GRID) says the revenue “floor” deals it has arranged in the past month will increase the proportion of revenues it pays to insurers and counterparties from 6% to […]
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01 Aug 2025 2 min read
Morning briefing: TRIG warns dividend cover “tight” and Third Point rebels gain 24% support
Also, Alliance Witan underperforms during a volatile first half, HydrogenOne Capital Growth changes name for its wind-down, Starwood European Real Estate Finance takes a second write-down on loans in Dublin and proxy vote adviser ISS backs Maven Renovar VCT in its fight with former fund manager. TRIG’s net asset value falls 4% Renewables Infrastructure Group […]
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14 Jul 2025 3 min read
Deutsche Numis: Where activist Saba is winning after taking less “brash” approach in £1.3bn trusts campaign
A more conventional “behind the scenes” engagement with investment company boards is reaping results for the activist hedge fund after its high-profile defeats in January, says Deutsche Numis. Analysis by Deutsche Numis shows Saba Capital is having more success in extricating itself from investment trust targets than last week’s disclosure of a position just over […]
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03 Apr 2025 5 min read
Impax Environmental Markets pleads case for continuation after difficult year
Impax Environmental Markets has announced results covering the 12 months ended 31 December 2024. Over the period, the NAV total return was -0.4% and the share price total return was -2.6%. These compare to a 19.6% return on the MSCI All Countries World Index and a 16.8% return on the FTSE ET100 Index. The dividend […]
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28 Mar 2025 4 min read
Denying climate causality won’t alter the rapidly changing investment landscape
The onward march of clean technologies will continue, despite polarisation on climate issues, creating opportunities for rational investors who can see through the fog of political rhetoric Executive summary Politics aside, asset owners’ interest in the economic opportunities and risks arising from climate-driven trends will continue to shape how capital is allocated Investors need to […]
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31 Jan 2025 2 min read
QuotedData’s morning briefing 31 January 2025 – LBOW, ESCT, THRG, IEM, ORIT
In QuotedData’s morning briefing 31 January 2025: ICG-Longbow Senior Secured UK Property Debt (LBOW) has issued an update in which it says it continues to make progress in exiting its three final investments in what remain challenging market conditions. The asset securing the Affinity loan has been placed under offer for sale following a competitive bidding […]
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22 Jan 2025 1 min read
QuotedData’s morning briefing 22 January 2025 – IEM, RNEW
In QuotedData’s morning briefing 22 January 2025: Impax Environmental Markets (IEM) is calling a general meeting to ask shareholders to renew its authority to repurchase shares. IEM says that, as at 20 January 2025, it has bought back 28,109,153 shares and the repurchase authority granted at the 2024 AGM has been substantially utilised. Its […]
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19 Dec 2024 1 min read
Jupiter Green headed for the exit
On 25 July 2024, the company as part of its annual results announced that the board was currently evaluating options for the future of the business in recognition that it may be in the best interests of shareholders for the company not to continue in its present form. The board has concluded the evaluation of […]
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13 Dec 2024 3 min read
Constructive on equipment rental
Vast investment in US megaprojects supports structural demand for rental economy services Chart Description Header: Planned ‘new economy’ / infrastructure investments top US$1.6tn Subhead: Total private and public investment announced in the US, January 2021 to October 2024 Overview: This proportional area chart shows the breakdown of total private and public investment in ‘new economy’ manufacturing and infrastructure […]
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20 Nov 2024 1 min read
Impax Environmental Markets adopts ‘Sustainability Impact’ label
The UK financial regulator – the Financial Conduct Authority (FCA) – has introduced a product labelling scheme aimed at preventing “greenwashing” – passing off funds as having ESG benefits that they don’t actually have. Impax Environmental Markets, which is the UK’s largest investment trust focused on environmental solutions and resource efficiency, has announced that it […]
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01 Nov 2024 8 min read
AI’s double-edged role in the sustainability revolution
AI’s rapid development and uptake pose a growing resource challenge. However, companies creating the solutions to tackle that challenge offer a growing opportunity for investors, even as the technology itself can help shape environmental markets. Executive Summary AI is already proving invaluable in enabling climate solutions, for example in energy efficiency, environmental technologies and forecasting. […]
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23 Aug 2024 4 min read
Heineken trusts: reaching the parts that other trusts can’t
QD view – four idiosyncratic investment options that provide a differentiated and diversifying addition to a portfolio Part of the joy of investment trusts is that they allow fund managers more room to explore. It doesn’t matter too much if a strategy is highly cyclical, goes through periods of unpopularity, or is illiquid, because managers […]
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12 Aug 2024 2 min read
Challenging start to the year but optimism remains for Impax Environmental Markets
Impax Environmental Markets (IEM) has released its interim report for the six months to 30 June 2024. The company’s NAV total return was -0.5% while shares fell 2.3%, trailing the benchmark index which delivered a return of 12.2%. The net revenue return for the period was £8.6m, compared with £9.1m earned in the same period […]
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10 Jul 2024 5 min read
The green arc of steel’s transition
Emerging technologies are poised to reduce the steel industry’s environmental impact, creating compelling investment opportunities in the sector. Executive summary Steel remains a vital component of many products solving environmental challenges and improving resource efficiency, from wind turbines to waste collection. This makes lowering the carbon intensity of its production and aligning the industry with […]
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12 Jun 2024 1 min read
Impax Environmental Markets on addressing PFAS – Solutions to the forever challenge
Impax believes the urgent need to detect, treat and destroy ‘forever chemicals’ in the world’s water is creating investment opportunities that are broader and more valuable than many appreciate Executive summary Understanding of the potentially grave and lasting threats to public health and biodiversity posed by ‘forever chemicals’ is driving public pressure, regulation and litigation […]
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10 May 2024 3 min read
QD view – Growth utilities
It would be fair to say that, traditionally, utility companies have not been viewed as the most exciting investments on the planet, with the sector consisting mostly of publicly owned or heavily regulated suppliers of basic amenities like water, gas and power. Nevertheless, as funds such as Ecofin Global Utilities and Infrastructure (EGL) have demonstrated, […]
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03 May 2024 1 min read
QuotedData’s weekly news show 3rd May 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aberforth Split Level Income (0:33) • Chrysalis (6:24) Andrew McHattie highlighted a number of funds that were looking unusually cheap or expensive (10:24). This week’s interview […]
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11 Apr 2024 4 min read
Impax Environmental Markets says underlying earnings remain robust
Impax Environmental Markets (IEM) says its NAV total return for 2023 was 4.5% and, as its discount widened, the return to shareholders was -3.7%. [There is no good benchmark for the portfolio, but we would use the MSCI All Countries World Index, which returned 15.3% in a year where the market’s focus was on very […]
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05 Dec 2023 3 min read
QuotedData’s morning briefing 5 December 2023 – PNL, IEM, LTI, PCTN, HLCL, HOME, TOWN, SHC
In QuotedData’s morning briefing 5 December 2023: Personal Assets Trust (PNL) announced its interm report for the six months to 31 October 2023. The company’s NAV fell by 2.7% while shares fell 4.5% with shares falling to a discount of around 1%. The company continues to be positioned defensively with almost 40% of the fund […]
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07 Sep 2023 2 min read
QuotedData’s morning briefing 7 September 2023 – GRID, IEM, SWEF, SOHO, HOME
In QuotedData’s morning briefing 7 September 2023: Gresham House Energy Storage (GRID) reports a fall in its NAV and a -3.5% return for the six months ended 30 June 2023. Most of the negative impact comes from lower revenue forecasts (these took 15.5p off the NAV). The discount rate used to value the portfolio has […]
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20 Jul 2023 2 min read
QuotedData’s morning briefing 20 July 2023
In QuotedData’s morning briefing 20 July 2023: Bellevue Healthcare (BBH) is operating an annual redemption facility as usual this year. However, to be eligible to take part in November/December, you must be holding shares at 2 September 2023. This is to give the company the chance to get the paperwork done for what it fears […]
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12 Apr 2023 3 min read
QuotedData’s morning briefing 12 April 2023
Impax Environmental Markets (IEM) announced the appointment of Guy Walker as an independent non-executive director of the company with effect from 17 May 2023. Guy is currently senior independent director at JPMorgan European Growth & Income plc, having joined them in 2021. He was previously managing director UK & European Equities at UBS Asset Management […]
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03 Apr 2023 2 min read
IEM struggles with the growth rotation
Impax Environmental Markets (IEM) has announced its annual results for the year ending 31 December 2022. Over the period IEM reported a NAV total return of -15.0%, and a share price total return of -22.8%. This represents an underperformance relative to IEM’s global equity comparator index, the MSCI ACWI, which generated -8.1%. IEM did outperform […]
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05 Apr 2022 2 min read
Good 2021 for Impax as it claws back some of last year’s underperformance
Impax Environmental Markets has published results covering the 12 months ended 31 December 2021. Over the year the trust generated an NAV return of 21.3% and a return to shareholders of 30.1%, both well-ahead of the MSCI AC World Index and the Environmental Technology 100 Index – up 19.6% and 13.1%, respectively. This reflects a […]
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04 Aug 2021 3 min read
QuotedData’s morning briefing 4 August 2021
In QuotedData’s morning briefing 4 August 2021: One of Schroder British Opportunities’s (SBO) private equity holdings, Rapyd, has completed a $300m Series E funding round. The global Fintech as a Service company had recently acquired Valitor, a European payments and card issuing company and also launched a venture arm. The additional funds will enable Rapyd to […]
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09 Apr 2021 2 min read
QD View – Go Green?
QD View – Go Green? Impax Environmental Markets is doing very well but is it too popular? It has been a short week and a quiet week in the investment companies market. Funds continue to report results for 2020, however, and the one that stood out for me this week was Impax Environmental Markets. Shareholders […]
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07 Apr 2021 4 min read
Impax Environmental reflects on a big year as China targets net carbon neutrality by 2060
It was a good year for Impax Environmental (IEM) in absolute terms with its annual results period to 31 December 2020 bringing a total NAV return of 31.0% and a total market return of 28.9%. The shares traded at an average premium to NAV of 4.6% over the period. The NAV return was ahead of the […]
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01 Feb 2021 1 min read
QuotedData’s morning briefing 1 February 2021
In QuotedData’s morning briefing 1 February 2021 – BlackRock Income and Growth (BRIG) reported annual results to 31 October 2020. During the year the company’s NAV per share returned -16.7%. At the share price level, the company returned -14.8% over the period. As at 28 January 2021, since the year-end BRIG’s NAV and share price have […]
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20 Nov 2020 3 min read
QD view – Looking after the environment
Over the next few weeks, QuotedData is hosting a series of webinars focused on ESG – environmental, social and governance – aspects of investing that are increasingly important to investors. The first of these, on 24 November, will look at the ‘E’ in ESG. The main thrust of the debate around tackling the environmental issues […]
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21 Jul 2020 1 min read
QuotedData’s morning briefing 21 July 2020
In QuotedData’s morning briefing 21 July 2020: BioPharma Credit has received a notice of prepayment for its $150 million senior secured loan with Amicus Therapeutics, Inc. As a result, the company is expected to receive on or before 4 August 2020, approximately $156.2 million, comprised of $150 million in principal, $1.2 million in accrued interest and […]
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15 Nov 2019 1 min read
QuotedData’s other news 15 November 2019
In QuotedData’s other news 15 November 2019 Princess Private equity has highlighted a press release from Partners Group – Partners Group has agreed to sell its minority equity stake in Action, Europe’s leading non-food discount retailer, on behalf of its clients. The stake will be acquired by Hellman & Friedman, a leading private equity investment firm. Partners […]
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28 Jul 2016 6 min read
F&C Managed Portfolio beats benchmark despite widening discounts
F&C Managed Portfolio reports that, for the company’s financial year to 31 May 2016, the NAV total return (i.e. adding dividends paid to capital performance) was -4.8% for the Income shares and -4.5% for the Growth shares which represented outperformance against the -6.3% total return for the FTSE All-Share Index, the benchmark index for both […]
Videos
In The Press
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20 Jul 2026 1 min read
Richard Williams comments on IEM manager notice in Portfolio Adviser
Richard Williams comments on new possible IEM manager in Patrick Sanders’ article: “We wait to see whether, as many suspect, Saba will be elected as manager..It will be unprecedented if it is.” Read the article here
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1 min read
Richard Williams comments on IEM manager notice in Investment Week
Richard Williams comments on IEM board move in Michael Nelson’s article saying the move comes as no surprise and that if Saba is elected as manager, “as many suspect”, it would be unprecedented. Read the article here
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18 Jun 2026 1 min read
Matthew Read comments on new IEM board in Portfolio Adviser
Matthew Read comments on the responsibility of the new IEM board in Patrick Sanders’ article: “This next step will show whether Saba’s chosen directors are really as independent as it has claimed they will be,” Read the article here
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29 Apr 2026 1 min read
Matthew Read comments on Saba’s IEM moves in Portfolio Adviser
Matthew Read comments on Saba’s IEM stake in Patrick Sanders’ article: “First, given that Saba could not have known how much its fellow shareholders were tendering, how has it very conveniently ended up with 29.9% of IEM post the tender offer?” “This feels way too precise to be a lucky guess, so did Saba have […]
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27 Apr 2026 1 min read
Matthew Read comments on Saba’s IEM stake in Investment Week
Matthew Read comments on Saba’s IEM stake and other questions in Patrick Brusnahan’s article: “Given that Saba could not have known how much its fellow shareholders were tendering, how has it very conveniently ended up with 29.9% of IEM post the tender offer, which just avoids it acquiring ‘control’ under the City Code?” Read the […]
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21 Apr 2026 1 min read
James Carthew comments on Saba’s IEM stake in Daily Mail online
James Carthew comments on Saba’s IEM stake in Jane Denton’s article: “Honestly, we are as confused as everyone else about the new Saba announcement. “Today, Saba says it has a 29.9 per cent stake – more than it had before the tender – but, it appears to be saying so by press release rather than […]
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1 min read
James Carthew comments on the IEM Saba saga in FT Adviser
James Carthew comments on Saba and IEM in Tara O’Connor’s article: “Maybe it is time to move onto the next phase of this saga. One where a new set of supposedly independent directors are forced to justify their actions and face potential legal repercussions if they don’t act in all shareholders’ best interests.” Read the […]
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1 min read
James Carthew comments on Saba requisition moves in Portfolio Adviser
James Carthew comments on Saba pushing for the IEM board to resign in Patrick Sanders’ article: “Maybe it’s time to move onto the next phase of the saga”, he added. “One where a new set of supposedly independent directors are forced to justify their actions and face potential legal repercussions if they don’t act in […]
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1 min read
James Carthew comments in Investment Week on Saba moves to replace IEM board
James Carthew comments on Saba’s latest announcement in Linus Uhlig’s article: “We are as confused as everyone else about the new Saba announcement. The board told us ‘it appears from an analysis of the elections that Saba has elected to tender the majority, if not all, of its position’. Today, Saba says it has a […]
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20 Apr 2026 1 min read
Matthew Read and James Carthew comment on the IEM tender in Portfolio Adviser
Matthew Read comments on Saba and the IEM tender in Patrick Sanders’ article: “Saba forced through its agenda by overriding the wishes of independent shareholders in what appeared to be a scramble to corral assets under management, only to throw in the towel at the final hurdle by tendering the bulk – if not all […]
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1 min read
Matthew Read comments on the IEM tender result in Investment Week
Matthew Read comments on the IEM tender in Linus Uhlig’s article: “Viewed one way, this whole saga looks like a futile exercise. Saba forced through its agenda by overriding the wishes of independent shareholders in what appeared to be a scramble to corral assets under management, only to throw in the towel at the final […]
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17 Apr 2026 1 min read
James Carthew comments on IEM tender pass in Portfolio Adviser
James Carthew comments on the low turnout for IEM’s tender in Patrick Sanders’ article: “surprisingly low turnout for such an important question..That suggests to us that Saba did not vote,” Read the article here
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1 min read
James Carthew comments on IEM tender result in Investment Week
James Carthew comments on IEM’s tender and low turnout in Linus Uhlig’s article: “It feels inevitable to us that there will be some shares that were not tendered and the fate of those shareholders and the rump trust is, as yet, unknown. Will Saba have retained a big enough stake to control its future?” Read […]
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17 Mar 2026 1 min read
James Carthew comments on the IEM exit tender in FT Adviser
James Carthew comments on Saba and the IEM exit tender offer in Tara O’Connor’s article: “Saba, through its intransigence and determination to ride roughshod over the wishes of other shareholders, has brought about the end of a unique trust… “In my view, IEM shareholders should vote in favour of the tender and tender all their […]
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1 min read
James Carthew comments on IEM’s exit tender in Investment Week
James Carthew comments on Saba and the IEM exit tender in Michael Nelson’s article: “Saba, through its intransigence and determination to ride roughshod over the wishes of other shareholders, has brought about the end of a unique trust..In my view, IEM shareholders should vote in favour of the tender and tender all their shares. The […]
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1 min read
James Carthew comments on IEM exit tender in Portfolio Adviser
James Carthew comments on the IEM tender in Lauren Hardy’s article “Saba, through its intransigence and determination to ride roughshod over the wishes of other shareholders, has brought about the end of a unique trust. In my view, IEM shareholders should vote in favour of the tender and tender all their shares..” Read the article […]
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1 min read
Investment trust insider on Edinburgh Worldwide and Saba
James Carthew: Saba has killed a trust that investors wanted – and for nothing Saba has strong-armed the end of Edinburgh Worldwide against the wishes of almost all other shareholders, and it may be left with no assets under management to extract fees. We have reached the point in the Saba saga where it is […]
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02 Mar 2026 1 min read
James Carthew comments on Saba’s Impax moves in Portfolio Adviser
James Carthew comments on the need for defences in the investment companies sector in Patrick Sanders’ article: “It may also be time for corporate advisers to dust off the rule book and explore legal avenues to insert poison pill defences into investment company structures,” Read the article here
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27 Feb 2026 1 min read
James Carthew comments on Saba and Impax in Sharesify
James Carthew comments on Saba and Impax in James Crux’s article: “The Impax story illustrates the damage that anyone with more money than sense can do to the investment companies sector if left unchecked. “Appeals to reason appear to have failed. It is time for the FCA to act. Clarifying the related party rules, as […]
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1 min read
James Carthew comments on Saba’s latest in Citywire
James Carthew comments on the need for action by the FCA in Lotte Edwards’ article: ‘It is time for the FCA to act. Clarifying the related-party rules, as Herald’s board has asked the FCA to do, would choke off Saba’s main line of attack – inserting directors it controls onto boards so that they can hand […]
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1 min read
James Carthew’s high growth ideas for Boring Money
James Carthew suggests Seraphim Space, Fidelity China Special Situations, BlackRock Frontier Markets, Impax Environmental Markets as ideas for a junior ISA. “Beyond SpaceX, which features in many Baillie Gifford portfolios, there are few ways for investors of all ages to play this new frontier of investment. Manager Mark Boggett believes that many of its holdings […]
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26 Jan 2026 1 min read
Investment trust insider on Herald’s tender proposals
James Carthew: Herald’s Saba retaliation is an existential gamble Herald’s 100% tender could either remove its unpredictable top shareholder or spell the end of a decades old trust with a great track record. A year has passed since Saba’s resounding defeat in its attempt to seize control of Herald (HRI). Last January, when HRI shareholders […]
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20 Jan 2026 1 min read
James Carthew on Saba in FT Adviser
James Carthew comments on Saba in Tara O’Connor’s article: “So, a record turnout and almost everyone bar Saba rejecting its proposals. “Surely the message must get through to Saba that investors don’t want it in charge; not of EWI, nor Herald, nor Impax Environmental Markets, nor any other trust for that matter. If it wants […]
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1 min read
James Carthew on Saba in Portfolio Adviser
James Carthew comments on Saba in Christian Mayes’ article: “So, a record turnout and almost everyone bar Saba rejecting its proposals. Surely the message must get through to Saba that investors don’t want it in charge; not of EWI, nor Herald, nor Impax Environmental Markets, nor any other trust for that matter. “If it wants […]
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1 min read
James Carthew on Saba in Daily Mail
James Carthew comments on Saba in Angharad Carrick’s article: ‘So, a record turnout and almost everyone bar Saba rejecting its proposals. ‘Surely the message must get through to Saba that investors don’t want it in charge; not of EWI, nor Herald, nor Impax Environmental Markets, nor any other trust for that matter. ‘If it wants […]
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1 min read
James Carthew comment on Saba in interactive investor
James Carthew comments on Saba in Dave Baxter’s article: Some commentators have been quick to cite the latest vote as a clear statement to Saba, with QuotedData head of investment companies James Carthew saying: “Surely the message must get through to Saba that investors don’t want it in charge.” Read the article here
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1 min read
James Carthew on Saba in Investment Week
James Carthew comments on Saba in Linus Uhlig’s article: “So, a record turnout and almost everyone bar Saba rejecting its proposals. Surely the message must get through to Saba that investors do not want it in charge; not of EWI, nor Herald, nor Impax Environmental Markets (IEM), nor any other trust for that matter”. “If […]
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13 Oct 2025 1 min read
Investment trust insider on the data centre boom
Investment trust insider on the data centre boom – James Carthew: Trusts set to thrive from the data centre boom Managers are eyeing up ways not only to benefit from skyrocketing data centre investment, but on how to address its negative consequences too. Many investment companies are getting excited about the prospects of the data […]
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11 Sep 2025 1 min read
IC Top 50 Funds 2025: the best funds to buy
by Dave Baxter, Investors Chronicle, September 11, 2025: With markets racing ahead again despite heightened uncertainty, passive funds have made plenty of ‘easy’ money this year. This is an intimidating backdrop for those seeking to beat the market, be it via an active fund or their own stock picks. Active funds do not have the […]
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29 Aug 2025 1 min read
ESG lives on: Sustainable fund picks for every investment style
By Emmy Hawker, Senior reporter, Trustnet, 29 August 2025: Sustainable investing has lost some of its shine in recent years but that does not mean investors have to shelve their environment, social and governance (ESG) concerns until the broader market swings back around.. James Carthew, head of investment company research at QuotedData, said: “In the […]
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07 Jul 2025 1 min read
How YOU can profit from Europe’s sweltering summer. As our environment heats up, these funds could deliver sizzling returns: MIDAS SHARE TIPS
By ROSIE MURRAY-WEST, Mail on Sunday, 5 July 2025: As Britain sweltered in the hottest June on record, businesses and homeowners invested in technology to make our living spaces and offices more comfortable. The latest figures show only about 5 per cent of British homes have air conditioning, but the number is growing and predicted […]
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17 Jun 2025 1 min read
Should we keep the faith with Impax Environmental Markets and sustainable investing?
By David Batchelor, QuotedData, 17 June 2025: It would be putting it mildly to describe as ‘unhelpful’ the backdrop of the past few years for sustainable investing – that is, investing focused on companies providing solutions to the 21st century’s environmental challenges. From late 2021, markets focused foursquare on the risk of inflation, a fixation […]
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10 Dec 2024 1 min read
Up-and-coming fund managers the analysts are backing
by Jennifer Hill from interactive investor, 10th December 2024: While there is less of a “star” fund manager culture these days, it remains important for retail investors to have someone ultimately accountable for performance. And while it can be tempting to simply allocate capital into the strategies of big-name investors, overlooking those whose star is […]
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03 Dec 2024 1 min read
Investment trust insider on Trump, climate change and the environment
Investment trust insider on Trump, climate change and the environment – James Carthew: The renewable trusts in Trump’s firing line President-elect Donald Trump could row back policies including the US Inflation Reduction Act, which would knock trusts with exposure to tax credits and tariffs In recent weeks, I’ve been looking at the possible impact of […]
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28 May 2024 1 min read
Investment trust insider on biodiversity
Investment trust insider on biodiversity – James Carthew: Governments are finally taking biodiversity seriously Government action to address falling wildlife numbers is creating opportunities for some businesses, with tradeable biodiversity credits one incentive. Last week, 22 May was the International Day for Biodiversity. There are ‘days’ for just about anything that you can think of […]
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19 Feb 2024 1 min read
How the 10 funds to buy and hold forever have fared over the past five years
by Jennifer Hill from interactive investor, 19th February 2024: Markets have had to digest more than usual over the past five years. The period has seen the Covid-19 pandemic and Russia’s invasion of Ukraine, as well as soaring inflation and sharp reversals in monetary policy from quantitative easing and rock-bottom interest rates to a sustained […]
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13 Nov 2023 2 min read
Revisiting Renewables
Cherry Reynard, AIC Compass Magazine, 10 Nov 2023: World leaders gathering in the UAE for the COP 28 at the end of November are likely to reach the now-familiar conclusion that countries ‘could do better’ on net zero targets. A cursory glance at the recent returns of renewable energy and environmental trusts – and their […]
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15 Nov 2021 2 min read
The alternative trusts allowing investors to capture new trends
Investment trusts enjoy record year for fundraising as they back a new wave of innovation November 11, 2021, Investors Chronicle, By Mary McDougall Investment trust fundraising amounted to £11.4bn in the first 10 months of the year, a record for the ancient fund structure which is now financing a new wave of innovation. Most striking is the […]
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04 Jan 2021 1 min read
2020’s investment trust winners: time to take profits?
2020’s investment trust winners: time to take profits? December 30, 2020 By Dave Baxter The enormous sell-off that took hold in February and March was swiftly followed by a fierce rally that has come to dominate much of the year. MSCI World index rose by nearly 40 per cent in sterling terms between the start of […]
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17 Dec 2020 1 min read
Shape the things to come
SHAPE THE THINGS TO COME Portfolio Adviser IT Guide, 16 December 2020 James Carthew, Director QuotedData Shareholders in investment companies have a significant edge over their open-ended counterparts when it comes to seeking out ESG-oriented investments The investment world has a big role to play in shaping the future of the planet for the benefit […]
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16 Nov 2020 1 min read
Engines of growth: Investment trusts for responsible investing
Engines of growth: Investment trusts for responsible investing By Mary McDougall, Investors Chronicle, 12 November 2020 Appetite for investment products with strong environmental, social and governance (ESG) credentials has boomed this year as the pandemic has put the need for a sustainable world under the spotlight. Enthusiasm has been helped by sustainable funds broadly outperforming their conventional peers […]
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13 Oct 2020 1 min read
Investment trust insider on Impax Environmental Markets
Investment trust insider on Impax Environmental Markets – James Carthew: why no environmental rival for Impax? A couple of weeks ago I highlighted the attractions of Home (HOME) real estate investment. I was pleased to see it raised £240m in its flotation and I hope it will end up being a lot bigger in a few years’ time. Shares in Home Reit started […]
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29 Jul 2020 2 min read
Investment trust insider on ESG
Investment trust insider on ESG – James Carthew: ESG? Riverstone, you’re having a laugh Riverstone Energy (RSE) has just announced a deal whereby it, and other funds managed or advised by its investment manager, will refinance Enviva, a leading player in the manufacture of wood pellets. The pellets are burnt in power stations (like the UK’s […]
