Impax to launch open-ended version of Impax Asian Environmental Markets plc

London, Monday 12th April 2010- Impax Asset Management Group plc ('Impax'), the specialist environmental investment company, announces the launch of the Impax Asian Environmental Markets (Ireland) Fund, an open-ended version of Impax's existing Asia-focused investment trust.

This follows the successful IPO in October 2009 of Impax Asian Environmental Markets plc, ("IAEM"), which, at launch, was the largest investment company IPO on the London Stock Exchange since July 2008, raising £104.5 million.

Since inception, IAEM has returned 18.9%, versus 11.3% for the MSCI AC Asia Pacific (ex Japan) Index.1

The Impax Asian Environmental Markets (Ireland) Fund ('the Fund') will be launched under Impax Funds (Ireland) plc, Impax's UCITS III umbrella, which is listed on the Irish Stock Exchange.

Ian Simm, Founder and Chief Executive of Impax, commented:

"We are delighted to announce the launch of this Fund, a sister company to our successful Asian investment trust. The Fund is being launched to further enable investors to benefit from the rapid and sustained growth anticipated from companies active in the environmental sector that are based in the Asia-Pacific region."

"We believe that the key drivers of the Asian environmental markets - market liberalisation, tightening environmental policy and falling costs of new technology - will continue to generate highly attractive investment opportunities."

"Since the launch of our Asian investment trust, China has pledged to cut its carbon intensity by 40-45% by 2020, India has announced a plan to invest USD 19 billion in solar technologies and Korea has set out a framework for measures to reduce greenhouse gases and develop clean technologies."

"These announcements reinforce our belief that the environmental markets in Asia are positioned for superior growth and that our Asian products will deliver long term outperformance."

"The new Fund will target a growing universe of more than 400 Asia-Pacific environmental stocks with an aggregate market cap of US$800bn."

Six share classes are available to investors, with "A" and "B" shares denominated in Sterling, Euros and US Dollars. Class "A" shares require a minimum subscription of £500,000 and carry a 1% management fee. Class "B" shares require a minimum subscription of £1,000 and carry a 1.5% management fee. Until 31st May 2011, Impax will rebate 25bp of the management fee for class "A" shares to investors who subscribe to the Fund before 31 May 2010.

Enquiries:

Penrose Financial  
Gay Collins 020 7786 4882/07798626282
gayc@penrose.co.uk  
   
Shona Prendergast 020 7786 4884
shonap@penrose.co.uk  
   
impax@penrose.co.uk  

Notes to editors

Impax Asset Management is a leading specialist investment manager dedicated to the environmental sector. Founded in 1994, Impax now manages c. £1.53 billion2 across a range of closed ended funds, open ended funds and segregated accounts on behalf of institutional and private investors.

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