Impax Environmental Market PLC (LON:IPX) highlighted strong recoveries from a number of its investments as the driver of the trust's strong performance in 2019.
The sustainable investment specialist pointed especially to Dutch consultant Arcadis and US power group Itron as major contributors, while its solar power investments Xinyi and Sunpower also did well.
Among the new holdings, Indraprastha Gas in India and Darling Ingredients, a US waste-to-animal feed group, stood out.
Net asset value jumped 29% to 321.8p and the value of the newly appointed FTSE 250 groups portfolio was £677mln at end December, but this has fallen to £582mln alongside the slump in financial markets due to the impact of coronavirus.
Chairman John Scott added that despite the meltdown in financial markets, the trusts shares have continued to trade generally at a premium to NAV and there remains market demand for IEM stock, allowing for further share issuance.
“Your board has great confidence in the expertise of its investment managers in selecting those businesses which are best placeRead More – Source