(Alliance News) - Impax Asset Management Group PLC on Tuesday said its assets under management declined in the first three months of 2020.
The three months to the end of March represents the company's second quarter.
The AIM-listed investment company ended March with GBP14.41 billion in assets under management compared to GBP16.11 billion at December 31.
Impax's listed equities declined by 11% to GBP11.44 billion from GBP12.79 billion at the end of December.
Impax seen GBP1.1 billion in net inflows in the quarter, which includes net inflows of GBP6.0 million in the month of March.
"During this very unusual time we are focused on protecting the health and safety of our staff while continuing to provide a full service to clients," said Chief Executive Ian Simm.
"The companies that we invest in are generally well established with experienced management teams, diversified business models and strong balance sheets. Consequently, over recent months we have had almost no financial exposure to distressed companies," Simm added.
Shares in Impax were up 11% at 334.00 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Impax Asset Management (IPX)