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Impax Asset Management Group PLC - London-based sustainability-focused specialist investor - Assets under discretionary and advisory management at the end of its financial year on September 30 total £37.4 billion, down 5.8% from July 1, but up 4.8% over the 12 months as a whole. The annual rise includes overall net outflows of £92 million, Impax says. Notes investment conditions remained challenging in its final quarter, as ‘moderate’ redemption from several distribution partners added to the hit from market-driven falls in net asset value. Says macro-economic environment is causing some clients to delay deploying capital, but Impax still is confident it can convert its pipeline.
‘Meanwhile, we continue to develop new investment capabilities while enhancing our operating model to ensure that the business is efficient and scalable,’ says Chief Executive Ian Simm.
Current stock price: 425.53 pence, down 6.3% in London on Monday
12-month change: down 24%
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