8th Apr 2016 09:32
LONDON (Alliance News) - Impax Asset Management Group PLC on Friday said the money it manages increased by 16% during the second quarter of its financial year, boosted by a new segregated account mandate won in the US.
The AIM-listed investment manager said its assets under management amounted to GBP3.56 billion on March 31, up from GBP3.08 billion three months earlier, driven by net inflows of GBP272 million and market movement and performance adding GBP207 million.
About two thirds of the net inflows were due to a new segregated account mandate, commencing at the end of March, from an institutional investor based in the US.
"Despite considerable market volatility early in 2016, Impax has had a strong quarter with positive net inflows and creditable investment performance. Investor interest in our capabilities and investment products remains high and we have a healthy pipeline of potential new inflows," Chief Executive Ian Simm said in a statement.
Shares in Impax Asset Management were up 4.9% at 43.25 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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