Last checked at 10 Apr 2018 07:00
Impax Asset Management Group plc - Q2 AUM update
London, 10 April 2018 - Impax Asset Management Group plc ("Impax" or the "Company"), the AIM quoted investment manager, today provides an update of the development of its assets under discretionary and advisory management ("AUM") for the second quarter of its financial year.
On 31 March 2018, the Company's AUM totalled £11.0 billion. This AUM figure includes the assets managed by Impax Asset Management LLC (previously named Pax World Management LLC), which the Company acquired on 18 January 2018.
Ian Simm, Chief Executive, commented:
"Despite the return of higher equity market volatility, I'm pleased to report on another successful quarter for the firm with net inflows of £331 million. In the first half of this financial year we have received over £1 billion of new money, and our new business pipeline remains encouraging."
"Since the closing of the acquisition of Pax World Management LLC in January, we have made good progress on the integration of the back and middle offices of the two businesses and on the sharing of best ideas between the investment teams."
The table below sets out further details of the movements in the Company's AUM for the quarter ended 31 March 2018.
Impax Asset Management Ltd Impax Asset Management (AIFM) Ltd | Impax Asset Management LLC2 | Reconciliation3
| Total firm
| ||
AUM movement 3 months to 31 March 2018 | Thematic equity funds
£m | Real assets funds1
£m | Fixed income, smart beta, US equity funds
£m |
£m |
£m |
Total AUM at 1 January 2018 |
7,754 |
476 |
- |
- |
8,230 |
Impax Asset Management LLC acquisition4 |
- |
- |
3,474 |
(459) |
3,015 |
Net inflows | 335 | 10 | 30 | (44) | 331 |
Market movement, FX and performance |
(455) |
(5) |
(105) |
24 |
(541) |
Total AUM at 31 March 2018 |
7,635 |
481 |
3,398 |
(479) |
11,035 |
1 Real assets comprise private equity and property funds
2 previously named Pax World Management LLC
3 avoidance of double count of Pax World Global Environmental Markets Fund
4 the acquisition completed on 18 January 2018
Enquiries:
Ian Simm, Chief Executive Tel: + 44 (0) 20 3912 3000 (switchboard)
Impax Asset Management Group plc
www.impaxam.com
Anne Gilding Tel: + 44 (0) 20 3912 3000 (switchboard)
Head of Communications + 44 (0) 20 3912 3126 (direct)
Impax Asset Management Group plc + 44 (0) 7881 249612 (mobile)
www.impaxam.com
Guy Wiehahn or Rishi Shah Tel: +44 (0) 20 7418 8900Nominated AdviserPeel Hunt LLP
Notes to Editors - About Impax Asset Management
Impax Asset Management manages or advises on both listed and real asset strategies. The Company's investments are based on the strong conviction that population dynamics, resource scarcity, inadequate infrastructure and environmental constraints will profoundly shape global markets, creating investment risks and opportunities. Impax expects that these trends, reflecting the transition towards a more sustainable global economy, will drive earnings growth for well-positioned companies. Impax's proprietary investment framework identifies and calibrates the rising risks and expanding opportunities from this transition, and guides the search for investments that will deliver long term outperformance.
Issued in the UK by Impax Asset Management Group plc, whose shares are quoted on the Alternative Investment Market of the London Stock Exchange. Impax Asset Management Group plc is registered in England & Wales, number 03262305. AUM relates to Impax Asset Management Limited, Impax Asset Management (AIFM) Limited and Impax Asset Management LLC. Impax Asset Management Limited and Impax Asset Management (AIFM) Limited are authorised and regulated by the Financial Conduct Authority and are wholly owned subsidiaries of Impax Asset Management Group plc. Please note that the information provided and links from it should not be relied upon for investment purposes. For further information please visit www.impaxam.com.