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 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 will be available on the Cofunds platform. Minimum investment is £1,000.

Categories: Regulation | Investment | Equities