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8 Oct 2024 07:00
Impax Asset Management Group plc
("Impax" or the "Company")
Q4 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 fourth quarter of its financial year ("The Period").
On 30 September 2024, the Company's AUM totalled £37.2 billion, representing an increase of 0.7% over the quarter and a decrease of 0.6% over the financial year since 30 September 2023.
Ian Simm, Chief Executive, commented:
"During the fourth quarter to 30 September we have seen stronger market conditions, driven in part by interest rate cuts and an improvement in the ratings of the 'quality growth' businesses in which our principal investment portfolios invest. The investment performance of our main strategies was positive, both on an absolute basis and relative to generic benchmarks.
"Net outflows for this quarter were 37% lower than the previous quarter, with a sharp drop in redemptions from the major intermediary clients representing European private wealth investors (including from our largest distribution partner BNP Paribas Asset Management) that have driven outflows over our financial year.
"This quarter's AUM update includes the assets that we have brought onboard following the completion of the acquisition of Absalon Capital Management in July, part of the significant expansion of our fixed income capabilities. Over the next few months, we also expect to close the purchase of the European assets of SKY Harbor Capital Management LLC, adding ca. £1.6 billion to our AUM at that time, subject to investment performance and client retention.
"We remain convinced that the outlook is positive for our investment approach of focusing on companies set to benefit from the transition to a more sustainable economy."
Figure 1: Movements in the Company's AUM for the quarter ended 30 September 2024.
AUM movement 3 months to 30 September 2024 | Listed equities | Fixed income | Private markets | Total firm |
£m | £m | £m | £m | |
Total AUM at 30 June 2024
| 35,035 | 1,190 | 701 | 36,926 |
Net flows
Acquired assets (Absalon Capital Management)
| (1,184)
0
| (14)
312 | 0
0
| (1,198)
312 |
Performance, market movement, and FX | 1,169 | (10) | (12) | 1,147 |
Total AUM at 30 September 2024 | 35,021 | 1,478 | 689 | 37,187 |
Figure 2: Movements in the Company's AUM for the full year ended 30 September 2024.
AUM movement FY to 30 September 2024 | Listed equities | Fixed income | Private markets | Total firm |
£m | £m | £m | £m | |
Total AUM at 30 September 2023
| 35,552 | 1,283 | 564 | 37,399 |
Net flows | (5,796) | (144) | 151 | (5,789) |
Acquired assets (Absalon Capital Management)
Performance, market movement, and FX | 0
5,264 | 312
27 | 0
(27) | 312
5,265 |
Total AUM at 30 September 2024 | 35,021 | 1,478 | 689 | 37,187 |
LEI number: 213800AJDNW4S2B7E680
- Ends -
Enquiries:
Impax Asset Management Group plc Ian Simm, Chief Executive Paul French, Head of Communications
|
+44 (0)20 3912 3000 +44 (0)20 3912 3032 |
Montfort Communications Gay Collins Jack Roddan impax@montfort.london
|
+44 (0)77 9862 6282 +44 (0)78 2567 0695 |
Peel Hunt LLP, Nominated Adviser and Joint Broker Andrew Buchanan Dan Webster
Berenberg, Joint Broker James Felix Dan Gee-Summons |
+44 (0)20 7418 8900
+44 (0)20 3207 7800 |
About Impax Asset Management
Founded in 1998, Impax is a specialist asset manager, with approximately £37.2 billion of 30 September 2024 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approximately 310 employees1 across its offices in the United Kingdom, the United States, Ireland, Denmark, Hong Kong and Japan making it one of the investment management sector's largest investment teams dedicated to sustainable development.
www.impaxam.com
1 Full-time equivalent
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, Impax Asset Management Ireland 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 on www.impaxam.com and links from it should not be relied upon for investment purposes.
Impax is trademark of Impax Asset Management Group Plc. Impax is a registered trademark in the UK, EU, US, Hong Kong, Canada, Japan and Australia. © Impax Asset Management LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland) Limited. All rights reserved.
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