8th Oct 2025 10:19
(Alliance News) - Impax Asset Management Group PLC on Wednesday reported a decline in assets under management at the end of its financial year, but notes signs that "flows are stabilising".
The London-based firm, which invests in companies and assets that stand to benefit from the transition to an environmentally sustainable economy, said assets under management totalled GBP26.06 billion at the end of September. This represents a decline of 0.3% from GBP26.13 billion at the end of June and is down 30% on-year from GBP37.19 billion.
Net outflows in the fourth quarter totalled GBP1.44 billion, while for the year as a whole, they amounted to GBP12.96 billion. The quarterly net outflow picked up from GBP1.31 billion in the third quarter.
In the fourth quarter, it got a GBP1.37 billion boost from market movement, foreign exchange and investment performance.
The AUM at the fourth quarter end rose from GBP25.33 billion at the end of March. For the first half to March 31, Impax Asset had reported net outflows amounted to GBP10.20 billion. This included a St James's Place mandate cancellation PLC - which had represented 15% of total AuM and 8% of annualised revenue.
In December, Impax said it lost two core equities accounts from the wealth manager. SJP terminated Impax Asset Management's mandate to manage the Sustainable & Responsible Equity Fund.
Chief Executive Ian Simm commented: "At GBP26.1 billion our assets under management were broadly flat for the fourth quarter and slightly higher than the start of the second half of our financial year. While we continued to register net outflows, there is solid evidence that flows are stabilising, including in our wholesale channel.
"During the quarter, we attracted material inflows from clients in Europe and North America. Encouragingly, we see widespread evidence that many asset owners are increasingly looking to partner with a specialist investor committed to understanding the opportunities and risks related to the transition to a more sustainable economy."
Simm added: "Our investment strategies continue to register positive absolute performance, although in September many were not immune in relative terms from the dominance of AI mega-cap technology in driving global equity returns. We remain highly confident in the outlook for Impax, particularly our investment thesis and strong competitive positioning."
Impax Asset Management shares fell 3.7% to 184.96 pence each in London on Wednesday morning.
By Eric Cunha, Alliance News news editor
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