Impax Asset Management is launching a new fund into the UK market after Old Mutual Global Investors brought management of the £77 million Old Mutual Ethical fund that Impax previously ran in-house.
The new Impax Leaders fund will be managed by Hubert Aarts and launched under the company's Irish Ucits umbrella.
Previously, UK investors could only access this strategy via the OMGI Ethical fund. The fund will be run in a similar way to the Ethical fund but for the time being will not have an ethical screen.
The OMGI Ethical fund will be managed by Quilter Cheviot from 1 December and after this switch its charges will be cut from 1.85% to 1.65%.
'Our Leaders strategy was established in March 2008 and has grown to some £600 million AUM in Continental European and US markets,' said Citywire A-rated Impax head of listed equities Bruce Jenkyn-Jones (pictured).
'We look forward to adding a product based on this strategy to our offering to UK investors at a time when we are seeing unprecedented interest in environmental investment strategies.'
Old Mutual Ethical is up 36.59% over three years to the end of August compared to a sector average return of 33.33%.