Last checked at 7 Apr 2020 07:00
Impax Asset Management Group plc
("Impax" or the "Company")
Q2 AUM update
Impax, the AIM listed specialist investor focused on the transition to a more sustainable economy, today provides an update on the development of its assets under discretionary and advisory management ("AUM") for the second quarter of its financial year.
On 31 March 2020, the Company's AUM totalled £14.4 billion.
Ian Simm, Chief Executive, commented:
"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.
Despite the recent sharp fall in markets, Impax's performance in the second quarter of our financial year has been robust. Over the three months to 31 March 2020 net inflows were £1.1 billion, a number that includes positive net inflows of £6.0 million during the month of March.
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.
Although conversion timeframes may lengthen, our new business pipeline remains strong and we anticipate that post the current crisis there will be increased interest among asset owners in the investment strategies that Impax offers, particularly those that provide exposure to mitigating and adapting to climate change, reducing pollution and navigating a path towards a more sustainable economy."
The table below sets out further details of the movements in the Company's AUM for the quarter ended 31 March 2020.
Impax Asset Management Ltd Impax Asset Management AIFM Ltd | Impax Asset Management LLC1 | ||||
AUM movement 3 months to 31 Mar 20 | Listed equities | Real assets | Fixed income, smart beta, US equity funds | Reconciliation2 | Total firm |
£m | £m | £m | £m | £m | |
Total AUM at 31 Dec 19 | 12,790 | 403 | 3,680 | (761) | 16,112 |
Net flows | 1,117 | (56) | 82 | (70) | 1,073 |
Market movement, FX and performance | (2,472) | 17 | (457) | 136 | (2,776) |
Total AUM at 31 Mar 20 | 11,435 | 363 | 3,306 | (696) | 14,408 |
1 Previously named Pax World Management LLC
2 Avoidance of double count of Pax Global Environmental Markets Fund and Pax Global Opportunities Fund
LEI number: 213800AJDNW4S2B7E680
- Ends -
Enquiries:
Impax Asset Management Group plc Ian Simm, Chief Executive
|
+44 (0)20 3912 3000 |
Montfort Communications Gay Collins Louis Supple impax@montfort.london
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+44 (0)77 9862 6282 +44 (0)77 3943 0102 |
Peel Hunt LLP, Nominated Adviser Guy Wiehahn or Rishi Shah |
+44 (0)20 7418 8900 |
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.
For further information please visit www.impaxam.com.
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.