# Impax Environmental Markets PLC (IEM)

**Page:** https://fundology.uk/fund/iem · ISIN GB0031232498

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, IEM (Impax Environmental Markets PLC, ISIN GB0031232498) closed at £4.24 on the London Stock Exchange. Over the five years to 13/11/2026 its price changed by −24.3% (income paid out is not included), or −40.9% after UK CPIH inflation.

## Summary

Impax Environmental Markets PLC is an investment trust. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.

Latest close: **£4.24** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | IEM |
| ISIN | GB0031232498 |
| Category | Investment trusts |
| Type | Investment trust |
| Domicile | United Kingdom |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +6.94% | +3.15% | price only |
| 3 years | +19.10% | +7.60% | price only |
| 5 years | -24.29% | -40.90% | price only |

Returns: worked out from recorded daily closes. Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Impax Environmental Markets PLC in pounds (price only, income paid out not included): 2022 −23.3%, 2023 −4.6%, 2024 −2.7%, 2025 +2.4%; 2026 to 13/11/2026 +6.4%. Returns of Impax Environmental Markets PLC in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +10.4%; to 30/09/2025: +3.6%; to 30/09/2024: +6.1%; to 30/09/2023: −6.3%; to 30/09/2022: −24.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -23.3% | -29.8% | Price |
| 2023 | -4.6% | -8.4% | Price |
| 2024 | -2.7% | -6.1% | Price |
| 2025 | +2.4% | -1.1% | Price |
| 2026 to 13/11/2026 | +6.4% | +3.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 19.08% | -12.74% |
| 3 years | 16.87% | -19.90% |
| 5 years | 19.77% | -43.40% |

## Largest fall

Volatility of Impax Environmental Markets PLC in pounds, annualised from weekly returns to 13/11/2026: 19.1% over 1 year, 16.9% over 3 years, 19.8% over 5 years. Largest fall in the price of Impax Environmental Markets PLC since November 2021, in pounds: −43.4% from 19/11/2021 to 11/04/2025. The lowest 12-month return of Impax Environmental Markets PLC in pounds (price only, income paid out not included) since January 2021 was −25.7% (12 months to 16/12/2022); the highest was +35.4% (12 months to 10/04/2026). On 13/11/2026 the price of Impax Environmental Markets PLC was 26.4% below its highest weekly close since November 2021 (19/11/2021), in pounds.

## Charges & eligibility

- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ISIN of IEM?**

The ISIN of IEM is GB0031232498. An ISIN identifies one exact share class of a fund; IEM is its ticker on the London Stock Exchange.

**What were IEM’s returns in each of the last five years?**

Calendar-year returns of IEM in pounds (price only, income paid out not included): 2022 −23.3%, 2023 −4.6%, 2024 −2.7%, 2025 +2.4%; 2026 to 13/11/2026 +6.4%. Past performance is not a guide to future returns.

**How has IEM done after inflation?**

Over the five years to 13/11/2026 IEM’s price changed by −24.3% (income paid out is not included), or −40.9% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.