(Alliance News) - Impax Asset Management Group PLC on Tuesday said that it continues to develop a healthy pipeline of opportunities, after increasing its assets under management in the second quarter.
For the three months ended March 31, the London-based sustainability-focused specialist investor posted total assets under management of GBP39.62 billion, up 1.3% from GBP39.10 billion at December 31.
Private markets assets rose 9.5% to GBP670 million from GBP612 million, while fixed income assets fell 0.8% to GBP1.21 billion from GBP1.22 billion. Listed equities came to GBP37.73 billion from GBP37.27 billion.
"Although our net flows were moderately negative, the outflows were overwhelmingly from a small number of intermediary clients largely representing European private wealth, and we again recorded an increase in the number of institutional clients, and no segregated mandate terminations," said Chief Executive Ian Simm.
"Following nearly two years of relative headwinds, asset owner sentiment around the transition to a more sustainable economy and associated areas of Impax expertise has improved in recent months. Looking ahead, we continue to develop a healthy pipeline of potential new business and to expand our distribution capabilities around the world."
Impax Asset Management shares were trading 0.4% lower at 440.25 pence each in London on Tuesday morning.
By Holly Beveridge, Alliance News reporter
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Impax Asset Management (IPX)