Impax Environmental Markets falls to discount over H1 2022

Assets drop £300m

clock • 2 min read
NAV dropped 17% in the six month period
Image:

NAV dropped 17% in the six month period

Impax Environmental Markets took a a tumble during the six months to 30 June, coming off a 10.2% premium to NAV down to a 2.7% discount, according to the trust’s interim results.

The share price fell by 26.7% over the first six months of this year, while the underlying NAV dropped 17%.  The trust's assets dropped £300m from £1.5bn to £1.2bn over the same period. In contrast, its MSCI All Country World Index benchmark declined only 11%. Chair John Scott said in the report: "The first part of this year has been challenging for markets in general, and IEM has not been spared. "Following three years of strong performance, IEM's share price has fallen in absolute and relative terms over the first six months of 2022. War has brought devastation to Ukraine, caused...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

The Baillie Gifford US Growth trust is managed by Kirsty Gibson (pictured) and Gary Robinson.

Baillie Gifford US Growth returns drop over 45% but maintains strategy conviction

Discount at 12% from a premium in 2021

clock 09 August 2022 • 3 min read
Janine Hofer-Wittwer CFA, SIX
ESG

MiFID II meets ESG and EU regulation

Tight time frame

Janine Hofer-Wittwer
clock 09 August 2022 • 3 min read
The new combined trust will be managed according to Monks' investment process

Monks and Independent Investment trust agree merger terms

Max Ward retiring

Kathleen Gallagher
clock 09 August 2022 • 1 min read
Trustpilot