REG - Impax Environ Mkts - Portfolio Manager Changes

Impax Environmental MarketsAnnouncement

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RNS Number : 5059B  Impax Environmental Markets PLC  01 October 2025

LEI: 213800RAR6ZDJLZDND86

 

IEM PLC ANNOUNCES PORTFOLIO MANAGER CHANGES

·    Sanjeev Lakhani to join Fotis Chatzimichalakis to form new
co-portfolio manager team

·    IEM has adopted a new benchmark, the Solactive Global Environmental
Markets Specialists Index

Impax Environmental Markets plc (LSE: IEM) (the "Company" or "IEM")
the UK's only investment trust focused on resource efficiency and
environmental opportunities, today announces changes to its portfolio
management team.

Effective today, Sanjeev Lakhani has joined the team and will manage the
portfolio together with current co-portfolio manager, Fotis Chatzimichalakis,
who has been in his role since 2021.

With 17 years' investment experience, Sanjeev Lakhani joined IEM's manager,
Impax Asset Management, in 2023 as a senior Industrials analyst with a
research focus on stocks within the Impax Environmental Markets taxonomy.
Sanjeev was previously an assistant portfolio manager at Highclere
International Investors, where he also worked as an investment analyst
covering Industrials and Utilities. Before that, Sanjeev was an Investment
Manager at Janus Henderson Investors.

Jon Forster will take on the responsibility of a senior Industrials analyst
focused on environmental solutions companies. In this new role, he will
continue to contribute to IEM's idea generation and broader investment
process. Jon will work closely with the managers to ensure a smooth transfer
of his portfolio management responsibilities, before handing over fully on 31
December 2025.

Sanjeev Lakhani, Co-Portfolio Manager commented:

"Having worked closely with the team since arriving at Impax, I am very
excited to be joining IEM as a portfolio manager. The Company is a unique
vehicle with a track record of uncovering long-term growth opportunities in
environmental markets, and I look forward to making my contribution."

Fotis Chatzimichalakis, Co-Portfolio Manager commented:

"I'm delighted that Sanjeev is joining the team at such an important time.
IEM's portfolio has evolved significantly this year, and his ideas have played
a key role in that. With a more concentrated portfolio of high conviction,
attractively valued ideas, IEM is well positioned to go forward."

Glen Suarez, Chair of Impax Environmental Markets plc, commented:

"On behalf of the Board I'd like to thank Jon for his many years' service
managing IEM's portfolio and to welcome Sanjeev to the team."

Separately, effective today, IEM is adopting a new benchmark, the Solactive
Global Environmental Markets Specialists Index ("GEMS Index").

The GEMS Index will replace the FTSE ET100 Index, which has become
unrepresentative of IEM's opportunity set since FTSE's Environmental Markets
methodology diverged from that of Impax in 2021.

The GEMS Index has been created to understand and measure IEM's performance,
positioning, and risk relative to its investable opportunity set. It also
allows shareholders to understand the structure and performance of IEM's
thematic opportunity set against broader global equity markets. IEM uses the
MSCI All Country World Index (ACWI) for this purpose, and the index will
remain the Company's long-term performance reference.

Glen Suarez, Chair of Impax Environmental Markets plc, commented:

"As a Board, we identified the need for a more appropriate benchmark to
reflect the Company's thematic investable universe in IEM's last annual
report. Having consulted with Shareholders, we are confident that the GEMS
Index will fulfil this role. This will give the Manager a clear reference for
portfolio construction, risk management and performance attribution."

-ENDS-

Contact:

Montfort Communications           iem@montfort.london
(mailto:iem@montfort.london)  / +44 (0)20 3514 0897

 

Notes to editors

Sanjeev Lakhani is a co-Portfolio Manager of the Impax Climate and Specialists
strategies. He is also responsible for ideas generation, fundamental research
and thought leadership for Impax's Thematic and Lens strategies with a primary
focus on Industrials.

Sanjeev joined Impax in 2023 from Highclere International investors, where he
worked as an investment analyst and assistant portfolio manager, covering
International small and mid cap stocks primarily across Industrials and
Utilities. Prior to that he worked at Janus Henderson Investors as an
Investment Manager across their Sustainable, Global and International
strategies. Sanjeev started his career at PwC where he worked in corporate
finance and qualified as a chartered accountant (ACA).

Sanjeev holds a BSc in Economics from the London School of Economics. He is a
CFA Charterholder and a member of the ICAEW.

Fotis Chatzimichalakis is a co-Portfolio Manager of the Impax Specialists and
Climate strategies. Fotis researches stocks globally, focusing on the
information technology and industrials sectors.
(https://impaxam.com/staff-bios/#more)

Fotis originally joined Impax as an intern in 2015, initially working in the
listed equities team. He has held his current role since 2021. Prior to
joining the firm, he had an internship at Barchester Green Investment.

A CFA® Charterholder, Fotis also holds the Investment Management Certificate.
He has a master's degree in Civil Engineering from the National Technical
University of Athens and a master's degree in Sustainable Energy Systems from
the University of Edinburgh.

 

 

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