Impax Asset Management Group
plc
("Impax"
or the "Company")
Q4 AUM
update
Impax,
the AIM listed specialist investor focused on the transition to a
more sustainable economy, today provides an update on the
development of its assets under discretionary and advisory
management ("AUM") for the fourth quarter of its financial year
("The Period").
On 30 September 2024, the Company's
AUM totalled £37.2 billion, representing an increase of 0.7% over
the quarter and a decrease of 0.6% over the financial year since 30
September 2023.
Ian
Simm, Chief Executive, commented:
"During the fourth quarter to 30
September we have seen stronger market conditions, driven in part
by interest rate cuts and an improvement in the ratings of the
'quality growth' businesses in which our principal investment
portfolios invest. The investment performance of our main
strategies was positive, both on an absolute basis and relative to
generic benchmarks.
"Net outflows for this quarter were
37% lower than the previous quarter, with a sharp drop in
redemptions from the major intermediary clients representing
European private wealth investors (including from our largest
distribution partner BNP Paribas Asset Management) that have driven
outflows over our financial year.
"This quarter's AUM update includes
the assets that we have brought onboard following the completion of
the acquisition of Absalon Capital Management in July, part of the
significant expansion of our fixed income capabilities. Over
the next few months, we also expect to close the purchase of the
European assets of SKY Harbor Capital Management LLC, adding ca.
£1.6 billion to our AUM at that time, subject to investment
performance and client retention.
"We remain convinced that the
outlook is positive for our investment approach of focusing on
companies set to benefit from the transition to a more sustainable
economy."
Figure 1: Movements in the Company's
AUM for the quarter ended 30 September 2024.
|
AUM
movement
3
months to
30
September 2024
|
Listed
equities
|
Fixed
income
|
Private
markets
|
Total firm
|
|
|
£m
|
£m
|
£m
|
£m
|
|
Total AUM at
30
June 2024
|
35,035
|
1,190
|
701
|
36,926
|
|
Net flows
Acquired assets (Absalon Capital
Management)
|
(1,184)
0
|
(14)
312
|
0
0
|
(1,198)
312
|
|
Performance, market movement, and
FX
|
1,169
|
(10)
|
(12)
|
1,147
|
|
Total AUM at
30
September 2024
|
35,021
|
1,478
|
689
|
37,187
|
Figure 2: Movements in the Company's
AUM for the full year ended 30 September 2024.
|
AUM
movement FY to 30 September
2024
|
Listed
equities
|
Fixed
income
|
Private
markets
|
Total firm
|
|
|
£m
|
£m
|
£m
|
£m
|
|
Total AUM at
30
September 2023
|
35,552
|
1,283
|
564
|
37,399
|
|
Net flows
|
(5,796)
|
(144)
|
151
|
(5,789)
|
|
Acquired assets (Absalon Capital
Management)
Performance, market movement, and
FX
|
0
5,264
|
312
27
|
0
(27)
|
312
5,265
|
|
Total AUM at
30
September 2024
|
35,021
|
1,478
|
689
|
37,187
|
LEI number:
213800AJDNW4S2B7E680
- Ends -
Enquiries:
|
Impax Asset Management Group plc
Ian Simm, Chief Executive
Paul French, Head of
Communications
|
+44 (0)20 3912 3000
+44 (0)20 3912 3032
|
|
Montfort Communications
Gay Collins
Jack Roddan
impax@montfort.london
|
+44 (0)77 9862 6282
+44 (0)78 2567 0695
|
|
Peel
Hunt LLP, Nominated Adviser and Joint Broker
Andrew Buchanan
Dan Webster
Berenberg, Joint Broker
James Felix
Dan Gee-Summons
|
+44 (0)20 7418 8900
+44 (0)20 3207 7800
|
About Impax Asset Management
Founded in 1998, Impax is a
specialist asset manager, with approximately £37.2 billion of 30 September 2024 in
both listed and private markets strategies, investing in the
opportunities arising from the transition to a more sustainable
global economy.
Impax believes that capital markets
will be shaped profoundly by global sustainability challenges,
including climate change, pollution and essential investments in
human capital, infrastructure and resource efficiency. These trends
will drive growth for well-positioned companies and create risks
for those unable or unwilling to adapt.
The company seeks to invest in
higher quality companies with strong business models that
demonstrate sound management of risk. Impax offers a well-rounded
suite of investment solutions spanning multiple asset classes
seeking superior risk-adjusted returns over the medium to long
term.
Impax has approximately 310
employees1 across its offices in
the United Kingdom, the United States, Ireland, Denmark, Hong Kong
and Japan making it one of the investment management sector's
largest investment teams dedicated to sustainable
development.
www.impaxam.com
1 Full-time
equivalent
Issued in the UK by Impax Asset Management Group plc, whose
shares are quoted on the Alternative Investment Market of the
London Stock Exchange. Impax Asset Management Group
plc is registered in England & Wales, number
03262305. AUM relates to Impax Asset
Management Limited, Impax Asset Management (AIFM) Limited, Impax
Asset Management Ireland Limited and Impax Asset Management
LLC. Impax Asset Management Limited and Impax Asset
Management (AIFM) Limited are authorised and regulated by the
Financial Conduct Authority and are wholly owned subsidiaries of
Impax Asset Management Group plc. Please note that the
information provided on www.impaxam.com
and links from
it should not be relied upon for investment
purposes.
Impax is trademark of Impax Asset
Management Group Plc. Impax is a registered trademark in the UK,
EU, US, Hong Kong, Canada, Japan and Australia. © Impax Asset
Management LLC, Impax Asset Management Limited and/or Impax Asset
Management (Ireland) Limited. All rights reserved.