Tim Cockerill, head of research at Rowan
As a long-term investment, we like the £237m Impax Environmental Markets investment trust.
It is an out-and-out environmental investment vehicle focusing on three themes, namely alternative energy, waste management and water management. We feel these are strong investment themes for the future and there is considerable potential for the underlying stocks to succeed.
This vehicle is investing in companies that provide environmental services and solutions across the world.
It tends to invest in more small and mid-cap stocks, so is high risk, but we see it as part of a balanced portfolio.
We also like the fact that Impax is a boutique investment house and focuses only on environmental funds.
It does not run Japanese money or a UK Oeic, but only environmental-focused portfolios such as recycling or alternative energy vehicles.
The trust, which has its biggest geographic exposures in the US and UK, is currently trading at a slight premium to Nav.