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(Alliance News) - Impax Asset Management Group PLC on Friday said its assets under management hit the GBP30.00 billion level for the first time.
In the period to March 31, its second quarter, AUMs climbed 19% to GBP30.00 billion from GBP25.21 billion at the end of December.
Financial year-to-date, Impax said its AUMs have risen 49%.
"I am pleased to report that Impax has again delivered another quarter of exceptional growth, with our AUM reaching GBP30 billion for the first time. Net flows for the three months to the end of March were a record GBP4.0 billion as we converted rising client demand into new business. Over the first half of our financial year we have increased our AUM by almost 50%," Chief Executive Ian Simm said.
"This quarter we also completed the integration of our New Hampshire-based team, who joined us in 2018 following the acquisition of Pax World Management LLC. Combining the two businesses has already delivered significant growth for the group."
Shares in the company were 4.3% higher at 850.00 pence each in London on Friday morning.
By Eric Cunha; ericcunha@alliancenews.com
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