4th Dec 2019 09:11
(Alliance News) - Impax Asset Management Group PLC on Wednesday reported a sharp rise in assets under management over the twelve months to September 30.
On that date, the asset manager's assets under management stood at GBP15.05 billion, 20% higher than the GBP12.52 billion seen at the same point a year earlier.
Impax recorded GBP1.38 billion in net inflows with market movement and forex performance adding a further GBP1.16 billion.
The company's listed equities assets ended the period at GBP11.66 billion, 29% higher than the year earlier. Impax said all of its equity strategies, excluding Sustainable Food, outperformed their global benchmark index.
The listed equities funds recorded GBP1.69 billion in net inflows, with market performance adding GBP941 million.
Chair Keith Falconer said: "The last 12 months have seen unprecedented concern globally about environmental issues and rapidly expanding opportunities from the transition to a more sustainable economy. Against this backdrop it has been yet another strong year for Impax. The key investment strategies maintained their track record of out-performing global equity markets, AuM continues to increase and we see growing interest from investors in our broad product range."
Impax proposed a final dividend of 4.0 pence per share, giving a total dividend of 5.5p - a 34% year-on-year increase.
In the year to September 30, the asset manager's pretax profit jumped 29% to GBP18.9 million from GBP14.6 million with revenue rising 12% to GBP73.7 million from GBP65.7 million.
Chief Executive Ian Simm added: "Impax expanded significantly in 2019, with double digit growth across key performance indicators including, AuM, revenue and final dividend.
"Positive net inflows of GBP1.4 billion underpin these results and we have a strong pipeline in place for 2020. The drivers behind the global economy's transition to a more sustainable model are only increasing and we remain ideally positioned to benefit from this. The solid foundations we've laid down over the last twenty years and the investments we have made in our business should support significant further growth for the company."
In the two months following period-end, Impax said it has recorded a further GBP500 million in inflows, driving assets under management to GBP15.7 billion as of November 30.
Shares in Impax were up 0.5% in London on Wednesday morning at 299.55 pence each.
By Paul McGowan; [email protected]
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