Impax reports rise in quarterly assets under management

Impax Asset Management said in its second-quarter update on Tuesday that its total assets under management had reached £39.6bn by 31 March, reflecting a 1.3% increase over the three-month period.

The AIM-traded firm said listed equities accounted for £37.74bn of that, while fixed income was £1.22bn, and private markets £670m.

That compared to 31 December, when listed equities accounted for £37.27bn, fixed income £1.22bn, and private markets £612m, summing up to a total firm assets under management of £39.1bn.

Net flows during the three-month period saw listed equities experiencing outflows of £1.76bn, fixed income seeing a decrease of £18m, and private markets showing positive inflows of £66m, leading to a total net outflow of £1.71bn.

Factors including market movement, foreign exchange and performance saw listed equities enjoying an increase of £2.23bn, fixed income rising £10m, while private markets saw a decrease of £8m.

Overall, those factors led to a total firm increase of £2.23m.

“I am pleased to be able to report another quarter of rising AuM in the context of sustained positive market sentiment,” said chief executive officer Ian Simm.

“Although our net flows were moderately negative, the outflows were overwhelmingly from a small number of intermediary clients largely representing European private wealth, and we again recorded an increase in the number of institutional clients, and no segregated mandate terminations.”

Simm said that after nearly two years of relative headwinds, asset owner sentiment around the transition to a more sustainable economy and associated areas of Impax expertise hd improved in recent months.

“Looking ahead, we continue to develop a healthy pipeline of potential new business and to expand our distribution capabilities around the world.”

At 1132 BST, shares in Impax Asset Management Group were down 0.45% at 444p.

Reporting by Josh White for Sharecast.com.