REG - Impax Asset Mgmnt - Q3 AUM update

Impax Asset ManagementAnnouncement

10/07/2024 07:00

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RNS Number : 7491V  Impax Asset Management Group plc  10 July 2024

Impax Asset Management Group plc

 

("Impax" or the "Company")

 

Q3 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 third quarter of
its financial year.

 

On 30(th) June 2024, the Company's AUM totalled £36.9 billion, representing a
decrease of 6.8% over the three-month period.

 

Ian Simm, Chief Executive, commented:

 

"Aggregate net flows for the quarter to 30 June remained negative and
dominated by our wholesale channel, despite a notable easing of outflows from
key parts of our European distribution structure. Following a busy period for
our direct sales team, our pipeline of potential new business is healthy.

 

"Today we announced that Impax has entered into agreements to acquire the
European assets of SKY Harbor Capital Management LLC, with assets under
management ("AUM") of ca. US$2 billion in aggregate.  This transaction,
together with the expected completion this month of our acquisition of Absalon
Capital Management, which has AUM of ca. US$0.5 billion, will greatly enhance
our fixed income capability, which we have identified as an area of
significant potential for the Company. Post the completion of both
acquisitions, Impax will have total pro-forma fixed income assets under
management of approximately US$4 billion as of 30 June 2024 and a fixed income
team of 20 professionals offering a diversified product range to asset owners
who are increasingly demanding credit solutions."

 

Movements in the Company's AUM for the quarter ended 30 June 2024

 

                                      Listed equities  Fixed    Private   Total firm

                                                       income   markets
                                      £m               £m       £m        £m
 Total AUM at                         37,735           1,215    670       39,620

 31 March 2024
 Net flows                            (1,902)          (24)     37        (1,889)
 Market movement, FX and performance  (798)            (1)      (6)       (805)
 Total AUM at 30 June 2024            35,035           1,190    701       36,926

 

 

LEI number: 213800AJDNW4S2B7E680

 

- Ends -

Enquiries:

 

 Impax Asset Management Group plc

 Ian Simm, Chief Executive                              +44 (0)20 3912 3000

 Paul French, Head of Communications                    +44 (0)20 3912 3032

 Montfort Communications

 Gay Collins                                            +44 (0)77 9862 6282

 Jack Roddan                                            +44 (0)78 2567 0695

 impax@montfort.london (mailto:impax@montfort.london)

 Peel Hunt LLP, Nominated Adviser and Joint Broker

 Andrew Buchanan                                        +44 (0)20 7418 8900

 Dan Webster

 Berenberg, Joint Broker

 James Felix                                            +44 (0)20 3207 7800

 Dan Gee-Summons

 

About Impax Asset Management

 

Founded in 1998, Impax is a specialist asset manager, with approximately
£36.9 billion of 30 June 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 300 employees(1) across its offices in the United
Kingdom, the United States, Ireland, Hong Kong and Japan making it one of the
investment management sector's largest investment teams dedicated to
sustainable development.

 

www.impaxam.com (http://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
(http://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 EU, US, Hong Kong and Australia. © Impax Asset Management
LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland)
Limited. All rights reserved.

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