Impax growth fuelled by a greener outlook

Japan's Fukushima nuclear disaster, Germany's abandoning nuclear power and Middle East unrest have "significantly strengthened prospects for investors in environmental markets", said fund manager Impax.

It saw funds under management jump 30% in the past six months to £2.36 billion, with three quarters of that coming from new inflows and the other from fund performance.

Impax runs green funds ranging from equities to private equity aimed at institutional investors but also manages retail funds such as Skandia Ethical. Pre-tax profits rose from £1.67 million to £2.05 million in the six months to end-March.

Chief executive Ian Simms said: "In the energy sector over the past 18 months, each of the traditional sources has experienced a major dislocation, and the implementation of policy to hasten the adoption of energy efficiency, renewable energy and clean transportation has continued to accelerate.

"Germany is interesting particularly because the decision to abandon nuclear was purely politically driven. After all there is no tsunami threat in Germany."

He added that in the medium term he expects better growth from the drive for energy efficiency rather than in renewables.