8th Oct 2019 09:49
(Alliance News) - Impax Asset Management Group PLC on Tuesday reported "further significant" growth in assets under management, despite a "challenging backdrop" for financial markets.
At September 30, Impax's assets under management stood at GBP15.05 billion, compared to GBP12.52 billion at the same point a year earlier, representing a 20% rise. Over the fourth quarter, the company's assets grew 3.5% from GBP15.54 billion.
In the twelve month period, Impax recorded GBP1.38 billion in net inflows with market movements and foreign exchange performance adding GBP1.16 billion to assets under management.
Impax's Listed Equities funds saw GBP1.69 billion in net inflows during the year, offsetting the GBP251 million in net outflows from the company's Fixed Income, Smart Beta and US Equities funds.
"At the end of Impax's most recent financial year, I am pleased to report further significant growth for the company. Notwithstanding a challenging backdrop for equity markets, Impax has continued to attract strong net inflows of capital and a healthy pipeline of potential new business from asset owners around the world that are seeking investment exposure to the transition to a more sustainable economy," said Chief Executive Ian Simm.
Shares in Impax Asset Management were 6.9% higher in London on Tuesday at 263.00 pence each.
By Paul McGowan; [email protected]
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