October 2, 2009 / 7:05 AM / 10 years ago

UPDATE 1-Impax sees FY results in line with market view

* AUM up 14 pct at 1.25 bln stg on Sept 30

* Says well positioned for future growth

* NAV at IEM fund up 11.5 pct

* Impax New Energy Investors LP performance ahead of view (Adds details)

Oct 2 (Reuters) - Environmental investment manager Impax Group Plc (IPX.L) said it expected results for the full-year ended Sept. 30 to be broadly in line with market forecasts and assets under management (AUM) rose 14 percent for the period.

The company, whose shareholders have approved a name change to Impax Asset Management Group Plc but is awaiting approval from Companies House, said AUM rose to 1.25 billion pounds at September end from about 1.10 billion pounds on Oct. 1, 2008.

“Impax is well positioned for further growth,” Chief Executive Ian Simm said in a statement.

The company said equity markets were demonstrating signs of stability and investor interest in environmental markets remained high as the international community debated future policy to combat global warming ahead of December’s summit in Copenhagen.

Impax said the net asset value at its flagship equity fund Impax Environmental Markets Plc (IEM) IMPX.L rose about 11.5 percent in the year while the MSCI World Index .dMIWO00000P increased by about 9.6 percent.

The fund manager said the performance at its principal fund in its private equity division Impax New Energy Investors LP had exceeded expectations.

Impax invests in sectors such as renewable energy, water treatment and waste management that may benefit from government environmental initiatives globally.

Shares of Impax closed at 31.5 pence on Thursday on the London Stock Exchange.

For more stories on the economics of climate change, click on [ID:nCLIMATE] (Reporting by Shivani Singh in Bangalore; Editing by Deepak Kannan)

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