Impax Environmental Markets PLC on Thursday maintained an upbeat outlook as it reported on net asset value growth.

Impax is a London-based investment trust backing companies offering solutions to environmental challenges.

On Thursday, the company said that NAV per share at December 31 was 434.3 pence, up 3.5% from 419.5p the year before.

NAV total return was 4.5%, compared to negative 15% in 2022, and below the MSCI AC World Index’s 15.3% return.

Impax Environmental declared a total dividend of 4.6 pence per share, up 15% from 4.0p the year prior.

Looking ahead, the firm’s portfolio manager, Jon Forster, said: ‘We remain positive, based on the more favourable market outlook for mid and small caps, the strong long-term drivers of Environmental Markets and the attractive portfolio valuation.’

Shares in Impax Environmental were down 0.7% at 397.03 pence each in London on Thursday morning.

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