David Li: a message from Ian Simm

I'm very sad to share the news that David Li, a senior member of our portfolio management team, passed away unexpectedly last weekend in his home city of Sydney, Australia. David was seemingly in good health when he collapsed while enjoying a quiet dinner with friends.

David joined Impax in 2007 as our first colleague in the Asia-Pacific region. From its inception in 2009, he co-managed our Asian Environmental Markets investment strategy and, more recently, Asian Opportunities strategy. Initially living in Hong Kong, during the pandemic he moved back to his native Australia to be closer to his family.

David began his career in the investment industry in 1997. He was the Head of Small and Mid-Cap Research for Asia ex-Japan at Deutsche Bank Securities, then Head of Regional Media Research at ING Securities. He graduated from the University of New South Wales in Australia with majors in Accounting and Finance. David also had experience in auditing and was a qualified CPA and CFA.

We are utterly devastated by the loss of our colleague and friend and are offering support to his family during this tragic time.

David was a highly valued leader and mentor of Impax's Asia-based team, a brilliant analyst, and a talented portfolio manager. On a personal level, he was generous and warm with a gentle sense of humour.

To provide continuity to the investment process, Kirsteen Morrison will join Oscar Yang as Interim Co-Portfolio Manager on the Asian Environmental Markets and Asian Opportunities strategies. Kirsteen has been on the strategy team for both strategies since their inception. David's stock coverage will transition to the secondary analysts for each company. In addition, Paul Peng, Research Analyst, will join the strategy team for both Asian Environmental Markets and Asian Opportunities.

We will announce in due course further details about our plans to mark and celebrate David's life.

Ian