Impax assets under management top £40bn for first time

Specialist investor Impax Asset Management reported assets under management of £41.4bn as at 31 December in a trading update on Monday.

The AIM-traded firm said that represented an increase of 11.1% for the first quarter of its financial year.

It said net flows for the three-month period totalled a positive £2bn, while market movements, foreign exchange and performance made for a positive movement of £2.14bn.

“Impax has delivered another quarter of strong growth, with assets under management expanding by 11.1% over the quarter to exceed £40bn for the first time,” said chief executive officer Ian Simm.

“Post the COP26 climate conference, the direction of travel towards a low-carbon economy is much clearer.”

Simm said identifying the corporate “winners and losers” would continue to require expertise and investment discipline.

“Against this backdrop, we are confident that Impax's focus on investing in the opportunities arising from this transition will remain attractive to asset owners and their advisers.”

At 1224 GMT, shares in Impax Asset Management were up 0.09% at 1,331.2p.