22nd Oct 2024 11:05
Impax Asset Management Group PLC - London-based asset manager focused on investments in the renewable energy, waste and water management sectors - Receives notice from St James's Place Unit Trust Group Ltd on the termination of Impax's mandate to manage a portion of the St James's Place Global Quality Unit Trust Ltd, a multi-manager fund subject to asset allocation decisions by St James's Place Unit Trust Group. The termination is expected to take effect in early November.
The mandate is the smaller of two Impax mandates with St James's Place PLC. The GBP774 million in mandate assets represents around 13% of the total assets under management that Impax manages on behalf of St James's Place. Impax expects only a "very modest" impact on its annualised revenue, and continues to manage the "much larger" Sustainable & Responsible Equity Fund for St James's Place.
Current stock price: 395.80 pence, down 2.5% in London on Tuesday morning
12-month change: up 3.5%
By Emily Parsons, Alliance News reporter
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