|Asset Group||Asset Sub-Group||Investment Category|
|Equities||Global equities||Smaller company|
WHY WE RECOMMEND IT
Experienced and well-resourced manager: Bruce Jenkyn-Jones and Jon Forster of specialist asset manager Impax have managed this investment trust since its launch in February 2002.
Consistently superior performance: Over the medium and longer term, the trust has significantly outperformed its two benchmarks – the MSCI All Country World index and the FTSE ET (Environmental Technologies) index, which is a composite of the FTSE ET50 and FTSE ET100 indices.
It is reasonably priced: This specialist investment trust levies annual ongoing charges of 1.04% as at 31 December 2019.
ii ACE ethical style: Embraces. This means the investment trust adopts a targeted or proactive approach to ethical investing, in an effort to make a positive impact and/or environmental outcomes.
Fund EcoMarket category: Environmentally Themed. This applies to funds that significantly integrate environmental issues into their investment strategies, sometimes alongside ethical avoidance criteria. Their focus is often around longer term environmental and resource related issues.
How the fund is managed: The objective is to enable investors to benefit from growth in the markets for cleaner or more efficient delivery of basic services of energy, water and waste. Investments are made predominantly in quoted companies that provide, utilise, implement or advise upon technology-based systems, products or services in environmental markets. There is particular focus on alternative energy and energy efficiency, water treatment and pollution control, and waste technology and resource management (which includes sustainable food, agriculture and forestry).
Environmental focus: The performance and volatility of the investment trust may differ significantly from those that do not have a specific focus on its investment universe.
Portfolio concentration: The investment trust has a concentrated portfolio compared with its main benchmark, the MSCI All Country World index. As at 31 March 2020 it was invested in 63 stocks, and the top 10 stocks represented 24.8% of assets under management.
Currency: Because investments are made predominantly outside the UK, performance may be significantly affected by changes in exchange rates.
Net asset value: Shares of the investment trust may trade at a discount or a premium to net asset value for a variety of reasons, including market sentiment and market conditions. On a sale you could realise less than the net asset value.
Gearing: The investment trust may borrow up to 20% of its asset value to invest. As at 31 March 2020, the trust was 3.28% geared.
|Information and data compiled to 30 April 2020.|
The information we provide in the ACE 30 investments list does not constitute a "personal recommendation". You should ensure that any investment decisions you make are suitable for your personal circumstances and that the ethical style of the investment reflects your personal beliefs.
Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor.
Any changes to the ii ACE 30 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.
Details of all recommendations issued by ii during the previous 12 month period can be found here.
ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii ACE 30 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.
In addition, staff involved in the production of this ii ACE 30 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii ACE 30 investments list.