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Alliance News) - Impax Asset Management Group PLC said Thursday it has started its new financial year well, with strong net inflows.
In its annual general meeting statement, Impax said it ended February with GBP16.3 billion in assets under discretionary and advisory management, an 8.3% rise from the GBP15.05 billion seen at September 30.
Since the beginning of October, the asset manager said it has recorded strong net inflows. In financial 2019, Impax recorded GBP1.38 billion in net inflows with market movement and forex performance adding a further GBP1.16 billion.
"During March, the funds and accounts that Impax manages or advises have generally performed in line with the market, while flows have been slightly negative. The company's pipeline of potential new business remains encouraging and is largely unchanged. In line with its normal practices, the company intends to provide a further update in the first full week of April," Impax said on Thursday.
In December, Impax had said, in the two months following its year-end, it recorded GBP500 million in inflows.
Shares in Impax Asset Management were 2.4% higher in London on Thursday afternoon at 227.36 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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