Launch date set for Impax's first retail Oeic

Impax has received FSA approval for its first retail Oeic, the Environmental Leaders fund, which will...

Impax has received FSA approval for its first retail Oeic, the Environmental Leaders fund, which will be launched on 3 March. The fund will be managed by CEO Ian Simm, Bruce Jenkyn-Jones and Simon Gottelier, who will select stocks within the alternative energy, water treatment and waste technology sectors. The fund will have a global remit, investing in listed companies with a market cap of at least $500m. The managers will not buy a company unless it derives at least 20% of its profits from, or has more than 20% of its capital invested in, the environmental sector. The new vehicle w...