5th Jan 2021 13:39
(Alliance News) - Impax Asset Management Group PLC on Tuesday said its assets under management increased during the first quarter of its financial year.
The London-based investor, focused on the transition to an environmentally sustainable economy, ended December with GBP25.19 billion in assets under management, compared to GBP20.18 billion at September 30. This is an increase of 25% for the quarter and a record high for the company.
Impax's listed equities increased by 28% to GBP21.31 billion during the quarter from GBP16.61 billion at the end of September.
Chief Executive Ian Simm said: "Despite these difficult times, I am pleased to report that Impax has again demonstrated its resilience and delivered another quarter of strong growth. After a year dominated by the effects of Covid-19, there are strong reasons to believe that the business opportunities arising from the transition to a more sustainable global economy will be increasingly attractive to companies and the investors that back them.
"Against this backdrop, Impax is well-placed to extend its well-established franchise as a specialist investment manager," he added.
Shares in Impax were up 6.9% at 797.37 pence in London on Tuesday.
By Zoe Wickens; [email protected]
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