Impax reports solid growth in assets under management

11th Apr 2023 11:51

(Sharecast News) - Specialist investor Impax reported a 5.7% increase in assets under discretionary and advisory management for the second quarter of its financial year on Tuesday.

The AIM-traded firm said assets under management totalled £40.12bn as at 31 March, with net inflows of £326m for the quarter.

Its assets under management on 31 December consisted of £36.11bn in listed equities, £1.3bn in fixed income, and £543m in private markets, making a total of £37.95bn.

The breakdown for net flows during the period was £324m for listed equities, -£4m for fixed income, and £6m for private markets, with a total of £326m in net flows.

Market movement, foreign exchange, and performance also contributed to Impax's assets under management increase, with listed equities increasing £1.84bn, fixed income by £12m, and private markets decreasing by £4m.

As of 31 March, Impax's assets under management breakdown was £38.27bn in listed equities, £1.3bn in fixed income, and £545m in private markets, making for a total of £40.12bn.

"Impax has delivered a solid quarter of growth, despite challenging macroeconomic and inflationary market conditions," said chief executive officer Ian Simm.

"We have reported positive net flows as asset owners and their advisors continue to be attracted to Impax's specialist focus on investing in the opportunities arising from the transition to a more sustainable economy."

Simm said recent policy moves such as the Inflation Reduction Act in the United States, and similar measures in Europe and Asia, had already attracted capital flows into many areas of the economy in which Impax invests.

"Companies in sustainable infrastructure, renewable energy and resource efficiency are well positioned to benefit as policymakers continue to prioritise energy security and fulfil their net-zero commitments."

At 1150 BST, shares in Impax Asset Management Group were up 2.93% at 809p.

Reporting by Josh White for Sharecast.com.