Mon, 15/07/2013 - 11:11
Impax Asset Management and Old Mutual Global Investors (OMG Investors) have marked the third anniversary of the Old Mutual Ethical Fund as a single manager fund.
The fund was originally launched in September 2005 as a multi-manager fund, with Impax subsequently appointed as the sole manager of the mandate in July 2010.
The fund follows a global all cap strategy and enables investors to participate in the superior growth demonstrated by global resource optimisation and environmental markets, with a rigorous ethical overlay. It targets both long-term capital growth and income through investment in stocks of companies that are expanding their activity in the provision of cleaner, more efficient products and services.
Celeste Dias-Brennan, head of product at OMG Investors, says: “Investors are becoming increasingly aware of the need to invest in the preservation of our scarce natural resources and the fact that these markets are amongst the fastest growing global sectors offering outstanding opportunities. Many clients also wish to invest in a fund with investment criteria which match their own ethical beliefs and values. The fund’s ethical investment criteria are among the strictest exercised by funds in this category and are under continuous review, being adjusted to reflect changing circumstances and emerging concerns.”
Bruce Jenkyn-Jones, managing director of listed equities at Impax, says: We are very optimistic on the outlook for this fund. We are now seeing acceleration in earnings across these environmental markets. The strongest performing sectors have been energy efficiency, which has benefited from the cyclical upturn in construction markets particularly in the US, and water where we believe the strong secular drivers will continue to drive outperformance over many years.
“As at the 31 May 2013 the Old Mutual Ethical Fund had some GBP77m of assets under management. The fund has been in the top quartile of its IMA peer group (Global) for each of the last four quarters. It has returned 35.0 per cent over the last three years (compared to the IMA sector average of 32.8 per cent) and 33.0 per cent in the last year (IMA sector average 28.1 per cent).”
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