Impax AuM falls 1pc over third quarter

Impax Asset Management updated the market on the development of its assets under discretionary and advisory management (AuM) for its third quarter on Monday.

The AIM-traded company said that as at 30 June, its AuM amounted to £39.7bb.

While the figure reflected a 2.2% increase over the month, it also represented a 1.0% decrease over the three-month period since 1 April.

“Although market conditions remain challenging for many asset managers, Impax's specialist focus on the transition to a more sustainable global economy continues to present compelling investment opportunities,” said chief executive officer Ian Simm.

“We're maintaining our focus on resilient, well-managed companies in high growth areas such as renewable power generation, resource efficiency, infrastructure and social markets.

“In parallel, we're sustaining efforts to ensure that our operating model is efficient and scalable so that we're optimally positioned for future success.”

At 1242 BST, shares in Impax Asset Management Group were down 0.75% at 526p.

Reporting by Josh White for Sharecast.com.