Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Oversold - solid results, I have topped up a little,
CEO reports 'a solid H1 despite challenging macroeconomic conditions'
6 months to end of March saw: AUM +12% to £40.1bn, net flows of + £1.1bn, interim div 4.7p, EPS down to 17.2p after internal investment.
CEO and CFO present at a webinar TODAY at 3pm, all investors are welcome - to join simply register here:
https://www.equitydevelopment.co.uk/news-and-events/impax-am-interim-presentation-31may2023
Just sold the rest at 855p. I have learnt never to be greedy !
impax asset management plc (aim: ipx), leaders at investing in companies helping the transition to a more sustainable global economy, is pleased to announce that their ceo & founder, ian simm and cfo, karen ****burn will conduct a live presentation at 3.00pm on wednesday 31st may.
they will review their results for the six-month period ended 31 march 2023 and answer questions from the online audience. questions can be submitted before and during the presentation, and will be addressed at the end of it.
the presentation is open to all existing and potential shareholders at no charge. you can register your attendance here:
https://www.equitydevelopment.co.uk/news-and-events/impax-am-interim-presentation-31may2023
Impax maintained its impressive record of attracting and retaining client assets, with net flows in Q2-FY23 (to 31 Mar 23) of +£326m, achieved in a quarter characterised by further market turmoil and, no doubt, investor nerves. A strong investment performance of +£1.9bn was recorded. AUM reached £40.1bn, up 6% over Q2 and 12% over H1 (AUM end-FY22: £35.7bn).
In the context of the wider sustainable investing market, we highlight that flows into sustainable funds were indeed far lower in 2022 than in 2021 but held up better than flows into ‘conventional’ funds and remained positive, with flows into conventional funds turning sharply negative. Additionally, we note sustainable equity valuations have bounced back strongly.
Our forecasts remain unchanged as does our fundamental valuation of 1,000p, 27% above the closing share price on 6 Apr 23. We think Impax’s PE ratio of 17.1 (peer group median 14.9) is undemanding and looks justified given is recent performance and growth prospects.
Link to note with audio summary here: https://www.equitydevelopment.co.uk/research/positive-net-flows-continue-aum-12-over-h123
"MELLOMonday
INVESTING IN GOOD COMPANY
Monday 6th February 2023, 5pm – 9pm"
"Company Presentation – Impax Asset Management
Founded in 1998, Impax is a specialist asset manager, with approximately £37.9 billion as of 31 December 2022 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approximately 280 employees across its offices in the United Kingdom, the United States, Ireland and Hong Kong, making it one of the investment management sector’s largest investment teams dedicated to sustainable development."
http://melloevents.com/mm-6th-february/
Link: https://www.equitydevelopment.co.uk/research/aum-up-6-in-q1-of-fy23-in-line-with-forecasts
Impax has recorded a strong Q1 of FY23, with AUM growing by £2.3bn (+6.4%), from £35.7bn on 30 Sep 22 to £37.9bn on 31 Dec 22. Market movements, FX and investment performance was responsible for £1.5bn of the increase, while the group continued its impressive record of attracting and retaining client assets, recording £797m of net inflows, up from £606m in the prior quarter.
While market conditions remain uncertain, Impax’s recent net inflow trend does look like an encouraging shift back to a higher level, following a drop-off during the sharpest periods of the 2022 market fall. Impressively, Impax has recorded only one quarter of net outflows (Apr-Jun 2022) since 2015.
We are bullish about the prospects of the sustainable investing market generally, and of Impax specifically, which has been a standout performer compared to other asset managers. With AUM growth on track, we maintain our fundamental valuation of 1,000p (37% above closing price on 6 Jan 2023).
In case you missed our webinar with Impax Asset Management Group (IPX), the recording can be found on our YouTube channel: https://youtu.be/n2MJloQT9C0
I halved my holding this morning at 823p. They have had a fantastic run since their results. Since June, when I bought, they have outperformed the Aim Index and given a return of over 20%. Of the two investment maxims "run your profits" and "its never wrong to take a profit" I have done the cop-out and sold half and run the other !
Video recording now available: https://www.equitydevelopment.co.uk/research/impax-am-investor-presentation-fy-results-30nov2022
We hosted an investor presentation with Impax Asset Management plc (AIM: IPX), leaders at investing in companies helping the transition to a more sustainable global economy, following publication of their impressive results for the 12 months to 30 September 2022.
Ian Simm (CEO) and Charlie Ridge (CFO) took investors through highlights of the period which included net inflows of £2.9bn. They provided a detailed financial update and discussed opportunities in the current environment. Management also touched on the outlook and answered a range of investor questions.
If you missed the live event, the video recording of the presentation is available at the above link, divided into chapters:
0:00:03 Introduction
0:03:25 Highlights and Business Update
0:18:33 Financial Update
0:28:23 Outlook
0:30:33 Questions & Answers
Equity Development do you not think you have a duty disclose that you have a commercial relationship with this and other companies you post about? Presumably it is not a legal duty or you would do it, but it is certainly an ethical one.
FY22 results were highly impressive despite market challenges, and Equity Development's fundamental value rises to £10/share – as you can read (free access) in a detailed new research note via link below, with audio summary:
https://www.equitydevelopment.co.uk/research/revenue-profit-cash-dividends-up-materially
I was encouraged by today's results. I'm going to stick with this one. A difficult stock to value but it is in the right area and appears to be coping with the headwinds. I don't see it going back to the heady £13+ per share of yesteryear but it could get halfway back and the yield makes the wait worthwhile!
Encouraging results today. Another big hike in the dividend. ESG stocks have been under a lot of scrutiny this year and this must be a factor in the IPX share decline. But they specialise in this area and they have been doing it for a long time so hopefully, once the dust settles, they will emerge as one of the market leaders. Fingers crossed.
ShareSoc is hosting a webinar with Impax Asset Management Group plc (IPX) on 15 December 2022, which may be of interest to current shareholders or potential investors. Ian Simm, Founder and Chief Executive will be presenting.
You can register here: https://www.sharesoc.org/events/sharesoc-webinar-with-impax-asset-management-group-plc-ipx15-december-2022/
Impax Asset Management plc (AIM: IPX), leaders at investing in companies helping the transition to a more sustainable global economy, is pleased to announce that their CEO, Ian Simm and CFO, Charlie Ridge will conduct a live presentation reviewing their results for the 12 month period ended 30 September 2022.
The event will take place on Wednesday 30th November at 3.00pm.
The online presentation is open to all existing and potential shareholders and is free. Questions can be submitted before and during the presentation, and will be addressed at the end.
Sign up to register here: https://www.equitydevelopment.co.uk/news-and-events/impax-am-fyresults-presentation-30nov2022
Link to research report: https://www.equitydevelopment.co.uk/research/positive-net-inflows-despite-market-declines
Summary:
AUM closed FY22 (30 Sep) on £35.7bn, 3.3% up over Q4 (30 Jun 22: £34.5bn) and 4.1% down y-o-y (30 Sep 21: £37.2bn). The sharp market falls over 2022, particularly in growth-oriented sustainability stocks, will understandably dominate any review of the year. Indeed, the FTSE Environmental Opportunities All-Share Index fell 28.1% over Jan-Sep 22, which contributed to a -£4.4bn AUM impact from market movements and investment performance over FY22.
At a company-fundamental level, what characterises FY22 is how well Impax’s ability to attract and retain client assets has held up, despite unhelpful market conditions. Net inflows totalled +£2.9bn in FY22 (+£606m in Q4), with only one quarter of relatively minor net outflows during FY22 (Apr-Jun, a period of the sharpest market falls, when net outflows were £186m).
However, our fundamental valuation per shares adjusts to 960p per share from 1050p, purely because of the jump in the 10-year Gilt yield (the risk-free rate used in our DCF valuation) which is now 4.2% (2.1% at the time of our previous forecast in July). Additionally, given its strong growth prospects, Impax’s PER of 14.3, only just above a peer group median of 13.0, is in our view, too low.
Well...v disappointing....AUM up our SP down over 10 percent in a few days....joke
705p bid this morning. It took longer than I thought but it paid off in the end.
Yesterday Impax gave an end of Q3 update on AUM, with a 9% fall from Q2 to £34.5bn mostly due to market moves and investment performance, with only nominal outflows.
On our new FY AUM estimates Equity Dev's fundamental value/share adjusts to 1050p, still materially above current levels. New note is freely accessible here: https://equitydevelopment.co.uk/research/no-material-outflows-but-markets-impact-aum
I emailed IPX and received a positive repsonse of confidence in the company but no real detail. A 60% drop and more is concerning
All could and should be made clearer one would think at question time tomorrow night. Been good to me over the years so clarity going forward is needed.
https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-150622
Not sure it is worth a point - I am down 30% (several thousand). I have emailed the company to get some transparency on what is going on. Results were ok yet the SP is down nearly 60% with no comment from the company....no great PR
The shares have fallen over 20% (811p to 641) since the OK'ish results at the beginning of June and are still cum a 4.75p interim dividend. I bought a few this morning on the basis they are oversold and due for a bounce; even if it is a dead cat bounce! A 10p turn and the divi. over the next week would be better than having the cash on deposit. (Only time will tell.)
Anyone an idea what is going on with the SP - it just keeps going down even though the results were good?