(Bloomberg) -- As Nvidia Corp. found itself the target of a deep selloff earlier this year, Impax Asset Management was quietly seizing the moment to build a ...
) found itself the target of a deep selloff earlier this year, Impax Asset Management was quietly seizing the moment to build a stake it had long regretted not owning.Ian Simm , chief executive officer and founder of the $50 billion London-based asset manager, says he and his team had been looking for an opportunity to correct what they had come to realize was a wrong call a few years ago, which meant missing out on Nvidia ’s stunning 800% rally since the beginning of 2023.
Over the past couple of years, a spike in interest rates, an energy crisis and the ascent of the so-called Magnificent Seven of technology behemoths have turned green investing into a losing bet. Impax’s own share price is down almost 30% this year, while the S&P Global Clean Energy Index has lost more than 10%. The S&P 500, meanwhile, is up more than 20% in the same period.Earlier this week, Impax reported results that showed gains in listed equities of £5.
Simm says Impax still considers Nvidia to be undervalued when taking into account how the boom in artificial intelligence is expected to drive demand for its chips. GREAT NECK, N.Y., Oct. 09, 2024 -- Gould Investors L.P. , announced that it entered into a contract to sell a property it owned for many years to a non-affiliated entity for a sales price of approximately $101 million. It is anticipated that the transaction will be completed no later than April 2027 provided the buyer and seller execute per the contract terms.
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