Impax Asset Management Share Price (IPX)

Driven by very strong investment performance AUM rose nicely by £2.2bn or 6% over H1, reaching £39.6bn

New research out from Equity Dev with fair value/share still seen at 800p, well above current levels, as you can read here with free access:

https://www.equitydevelopment.co.uk/research/investment-performance-drives-6-h1-aum-growth

Simon O'Regan (NED) has spent £58,586.84 on buying 13,000 shares at around 451p. I hope he makes money !

Https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-230124

Impax recorded a solid Q1 of FY24, with AUM growing by £1.7bn (+4.6%) to £39.1bn on 31 Dec 23 (30 Sep 23: £37.4bn). This is above the trajectory required to meet our FY24 AUM forecast of £41.1bn (+10% annual AUM growth), but as it is very early in the financial year and markets remain volatile, we have taken a conservative approach and not yet adjusted our forecasts.

It has also announced an acquisition in the fixed income segment. While not huge in the context of the group (£351m or just under 1% of group AUM), fixed income is seen as strategically important and a significant growth opportunity, particularly in the US. Impax Asset Management Ireland Limited has entered into an agreement (subject to closing conditions) to acquire the assets of Absalon Corporate Credit, a fixed income manager of two strategies.

We remain bullish about the prospects of the sustainable investing market generally, and of Impax specifically. The positive AUM update for Q1-24 and the Absalon acquisition reinforce this view and our fundamental valuation remains at 800p per share, 50% above the current share price.

New report with audio here: https://www.equitydevelopment.co.uk/research/aum-up-4.6-in-q1-and-fixed-income-acquisition

The shares have now risen over 50% since the low in mid October. Your faith "petrencf" has been rewarded and I hope you stayed with it "Jeffrey1979". AUM at the year end will have risen since the last announcement which will give revenues a lift. The holding (in my SIPP) is just in profit although it did fall further than I expected. Some price consolidation would be reasonable after such rise but I shall be sticking with IPX