Investment Fund Reports 50m Subscriptions

23 November 2010

New Earth Solutions Recycling Facilities Investment Sub-Fund has announced cumulative subscriptions exceeding £50m and cumulative share price growth of 27.8 percent.

Following the 2008 launch of the UK waste management industry's first investment fund by The Premier Group (Isle of Man) Limited, the open-ended investment company, which operates in sterling, dollars and euros, was launched in partnership with New Earth Solutions Group.

New Earth says Government and EU commitments to reduce the UK's reliance on landfill have provided attractive financial drivers and a strong legislative foundation on which the business can grow. It seized this opportunity and developed waste management solutions for local authorities and commercial customers alike, maximising composting and recycling while minimising landfill. Its funding model gives local authorities the opportunity to have a facility up and running and delivering landfill diversion results in their region - without dipping into the public purse.

David Whitaker, director of The Premier Group (Isle of Man) said: "The investment fund is experiencing growing interest from UK and overseas investors who recognise that it offers growth potential and diversity if held within their investment portfolio or pension fund, as well as being environmentally friendly. Monthly subscriptions are now approaching the £3m mark, equating to broadly £35m per annum."

Chris Cox, managing director of New Earth Solutions, added: "We are delighted with the continued success of the fund, which has invested substantially in New Earth Solutions and each of its projects and provides the business with a strong and unique platform for funding future projects."