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Impax to close environmental leaders fund

Impax Asset Management is winding up its UK-based £7.6m IFSL environmental leaders fund after its small size has led to high internal fees hitting performance.

The group says it has applied to the FSA to close the fund and expects the winding up to complete by October 7.

It says it was appointed to manage Skandia Investment Management’s £74m ethical fund in early July and the fund is identical except for an additional ethical screen.

Investors should move into that fund to benefit from the economies of scale that come from its larger size, Impax says.

The group says the environmental leaders fund’s total expense ratios hit 2.5 per cent in recent months due to its small size, making the Skandia fund a better alternative.

The fund was launched in March 2008 under the management of Bruce Jenkyn-Jones and Simon Gottelier.

The market-listed asset manager also runs a Dublin-based ethical Oeic fund and two investment trusts in the space.    



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Suffolk Life marketing director John Moret says pension providers will struggle to update their systems to implement permanent changes to annuity legislation by the April 2011 deadline. The June Budget scrapped the requirement to annuitise or enter alternatively secured pension at 75, pushing it back immediately to 77 as an interim measure. The Government is […]

Impax moves to close environmental fund

Impax has applied to the FSA to close its £7.6m environmental leaders fund after it has been awarded another mandate by Skandia. It expects the closure to complete on October 7.


Guide: day-to-day tasks ​— can your system manage?

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