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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Impax Asian C | LSE:IAEC | London | Ordinary Share | GB00B3M69M11 | C SHS 100P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 101.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIAEM TIDMIAEC RNS Number : 2107W Impax Asian Environmental Mkts Plc 15 November 2010 IMPAX ASIAN ENVIRONMENTAL MARKETS PLC All information is at 31 October 2010 (unless otherwise stated) and unaudited. DATA AND PERFORMANCE +----------------------+----------+-----------+--+ | Pricing | | | +----------------------+----------------------+--+ | Diluted NAV (pence) | 120.89 | | +----------------------+----------------------+--+ | Undiluted NAV | 124.69 | | | (pence) | | | +----------------------+----------------------+--+ | Share price (pence) | 124.75 | | +----------------------+----------------------+--+ | Premium/ (discount) | 0.05 | | | (%) | | | +----------------------+----------------------+--+ | Data | | +---------------------------------+--------------+ | Total fund size (NAV) ( m) | 143.3 | +---------------------------------+--------------+ | Market capitalisation (m) | 143.3 | +---------------------------------+--------------+ | Management fee (%) | 1.0 | +---------------------------------+--------------+ | Established | 23rd | | | October | | | 2009 | +---------------------------------+--------------+ | Fund structure | Investment | | | Trust | +---------------------------------+--------------+ | Exchange | London | +---------------------------------+--------------+ | Currency | GBP | +---------------------------------+--------------+ | ISIN Number | GB00B4M5KX38 | +---------------------------------+--------------+ | Sedol | B4M5KX3 | +---------------------------------+--------------+ | Bloomberg code | IAEM LN | +---------------------------------+--------------+ | | | | | +----------------------+----------+-----------+--+ +-------------+--------+---------+----------+---------+ | Performance | IAEM | MSCI AC | FTSE EO | FTSE EO | | (GBP) | Net | Asia | Asia | Japan** | | | Asset | Pacific | Pacific | | | | Value* | (ex | (ex | | | | | Japan) | Japan)** | | | | | ** | | | +-------------+--------+---------+----------+---------+ | 1 month % | +1.3 | +1.2 | +1.6 | +2.3 | +-------------+--------+---------+----------+---------+ | 3 months % | +10.7 | +10.7 | +15.0 | +4.7 | +-------------+--------+---------+----------+---------+ | Since | +27.2 | +20.1 | +26.0 | +8.2 | | launch | | | | | +-------------+--------+---------+----------+---------+ * Performance data is for undiluted NAV ex income ** Total return TOP FIVE HOLDINGS +---------------+----------------------+-----------+------+-----+ | Company | Description | Country | Holding | | | | | % | +---------------+----------------------+-----------+------------+ | Xinyi Glass | General | China | 3.4 | | | | environmental | | | | +---------------+----------------------+-----------+------+-----+ | China | Renewable energy | China | 3.2 | | | Longyuan | developer | | | | +---------------+----------------------+-----------+------+-----+ | ENN Energy | Pollution control | China | 3.0 | | +---------------+----------------------+-----------+------+-----+ | Delta | Industrial energy | Thailand | 3.0 | | | Electronics | efficiency | | | | | (Thailand) | | | | | +---------------+----------------------+-----------+------+-----+ | Campbell | Environmental | Australia | 2.6 | | | Brothers | testing | | | | +---------------+----------------------+-----------+------+-----+ | TOTAL | | | 15.2 | | +---------------+----------------------+-----------+------+-----+ PORTFOLIO ANALYSIS* +-------------+---------+--------------+-------+ | Country exposure | Instruments | +-----------------------+----------------------+ | Japan | 16% | ADR/GDR | 3% | +-------------+---------+--------------+-------+ | China & | 39% | Equity | 82% | | Hong Kong | | Common | | +-------------+---------+--------------+-------+ | Taiwan | 6% | P-notes | 8% | +-------------+---------+--------------+-------+ | Korea | 5% | Cash | 7% | +-------------+---------+--------------+-------+ | India | 9% | | | +-------------+---------+--------------+-------+ | Singapore | 3% | | | +-------------+---------+--------------+-------+ | Philippines | 5% | | | +-------------+---------+--------------+-------+ | Thailand | 5% | | | +-------------+---------+--------------+-------+ | Australia | 5% | | | | Cash | 7% | | | | | | | | +-------------+---------+--------------+-------+ +------------------+-------+------------+-----+ | Sector | Company size | +--------------------------+------------------+ | Energy | 35% | >$10bn | 5% | | efficiency | | | | +------------------+-------+------------+-----+ | Renewable | 12% | $2bn-$10bn |41% | | energy | | | | +------------------+-------+------------+-----+ | Diversified | 8% | $200-2bn |46% | | environmental | | | | +------------------+-------+------------+-----+ | Waste | 12% | <$200m | 1% | | management | | | | +------------------+-------+------------+-----+ | Pollution | 10% | Cash | 7% | | control | 16% | | | | Water | 7% | | | | infrastructure | | | | | Cash | | | | +------------------+-------+------------+-----+ | * of funds invested as of 31 October 2010 | +---------------------------------------------+ | | +---------------------------------------------+ | | +------------------+-------+------------+-----+ IMPAX ASIAN ENVIRONMENTAL MARKETS PLC MANAGER'S COMMENTARY (31 October 2010) +----------------------------------------------------------------------------------------+ | | | The Company NAV rose 1.3% over the month, whilst the MSCI AC | | Asia Pacific ex Japan Index (GBP) rose 1.2%, the FTSE | | Environmental opportunities Asia Pacific ex Japan Index (EOAX) | | (GBP) rose 1.6% and the FTSE Environmental Opportunities Japan | | Index (EOJP) (GBP) rose 2.3%. The cash level at the end of | | October was 7%. | | | | On 23 July 2010 the Company announced that, in light of | | continuing demand for the Company's Ordinary Shares from both | | existing shareholders and potential new investors, it was | | considering the possibility of raising new monies through an | | issue of C Shares. Subsequently on 1 October 2010, a circular | | was sent to shareholders detailing proposals for such an issue. | | Following approval of the proposals by shareholders at a | | general meeting held on 26 October 2010, the Company issued | | 131,000,000 C shares at a price of GBP1 each. The C shares | | commenced trading on the London Stock Exchange on 27 October | | 2010. | | | | Global equity markets rallied in anticipation of a further | | round of quantitative easing in the US. Asian markets | | participated with the exception of Japan where the yen strength | | continued to negatively impact the prospects for exporters. | | Diversified environmental was the best performing environmental | | sector. | | | | Little was achieved at the Tianjin climate summit, held in | | preparation for the Cancun meeting in December, with the | | exception of some funding discussions for climate change | | adaption in developing countries. The first stage of the IPCC | | reform was implemented with a six year limit to leadership as | | well as new guidelines for research. October saw the | | announcement of China's 12th 5-year plan, which mentions the | | development of a domestic carbon trading scheme and an | | anticipated EUR25bn per year spend to develop wind power. China | | also plans to spend RMB2trn on smart grid development by 2015. | | The Asian Development Bank is also planning to issue up to | | $25bn worth of bonds in the next decade to fund water | | infrastructure projects in the region. South Korea is planning | | to spend $36bn by 2015 to build a renewables industry and India | | is working on establishing a solar project fund funded by a | | coal tax. | | | | In Alternative Energy & Energy Efficiency, Delta Electronics | | (industrial energy efficiency, Thailand) rose on broker | | earnings upgrades on expectation of strong Q3 results and | | sustainable growth in solar inverters and automotive | | electronics into 2011. The announcement of China's 12th 5 year | | plan and the subsequent anticipation of recovery in power grid | | spending drove the performance of TBEA (power network | | efficiency, China). Energy efficient glass provider Xinyi Glass | | rose on company buybacks and its new proposal to expand its | | business and enter the TFT glass market. Gains were made from | | hydro and geothermal IPP company Abotitiz Power (Philippines) | | due to a new power supply contract and a rebound in electricity | | prices. Solar stocks Trina Solar (China) and OCI (Korea) both | | underperformed following profit taking after previous strong | | performance, while the strength of the yen again impacted the | | performance of Japanese exporters. | | | | In Water Treatment & Pollution Control, water utility company | | Thai Tap Water (Thailand) continued its run of good performance | | and rose following the completion of new capacity and strong | | volume growth. On the negative side, investors in Kurita (water | | treatment equipment, Japan) grew concerned about growth | | prospects and the strength of the yen on Japanese exporters, | | and the stock suffered. IVRCL (water infrastructure) fell ahead | | of results as the monsoon season in India led investors to | | anticipate seasonally weak FY11 Q2 numbers. | | | | In Waste Technologies & Resource Management, strong volume | | growth and news of a potential M&A drove the share price of | | China Metal Recycling (metal recycling, China) whilst SIMS | | (metal recycling, Australia) fell on disappointing Q3 results. | | Lee & Man (paper recycling, Hong Kong), a previous strong | | performer for the portfolio, fell after profit taking. | | | | Latest information available at: | | http://www.impax.co.uk/funds/listed-equity-funds/impax-asian-environmental-markets-plc | | | +----------------------------------------------------------------------------------------+ Impax Asset Management Limited 15 November 2010 This information is provided by RNS The company news service from the London Stock Exchange END MSCFFLFMIFSSEEF
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