10th Jul 2014 09:33
LONDON (Alliance News) - Asset management groups Polar Capital Holdings PLC and Impax Asset Management Group PLC Thursday said they increased their assets under management in the quarter just ended.
Polar Capital Holdings said its assets under management increased by 3% to over USD13.6 billion in the quarter ended June 30, up from USD13.2 billion in the previous quarter.
"Despite this short term pause in the group's asset gathering achievements we continue to believe that, market conditions allowing, the group is well positioned to continue to grow its assets and profits," the company said in a statement.
Impax Asset Management Group said Thursday that assets under discretionary and advisory management in the quarter ended June 30 reached GBP2.76 billion.
"The company continues to receive strong net inflows into its third-party listed equity funds and accounts," Impax Asset Management said.
Impax also said it has agreed with Climate Change Capital Ltd the transfer of CCC's sustainable property-fund business. It said the transfer is consistent with its on-going assessment of opportunities to establish further asset classes in order to broaden its offering to clients.
Impax Asset Management shares were up 0.9% at 52.97 pence Thursday morning, while Polar Capital Holdings shares were down 0.5% at 460.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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