REG - Impax Asset Mgmnt - Q4 AUM update

Impax Asset ManagementAnnouncement

08/10/2024 07:00

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RNS Number : 2570H  Impax Asset Management Group plc  08 October 2024

 

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                                   Listed equities  Fixed    Private   Total firm

 3 months to                                                     income   markets

 30 September 2024
                                                £m               £m       £m        £m
 Total AUM at                                   35,035           1,190    701       36,926

 30 June 2024

 Net flows                                      (1,184)          (14)     0         (1,198)

 Acquired assets (Absalon Capital Management)   0                312      0         312

 Performance, market movement, and FX           1,169            (10)     (12)      1,147
 Total AUM at                                   35,021           1,478    689       37,187

 30 September 2024

 

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    Private   Total firm

                                                                income   markets
                                               £m               £m       £m        £m
 Total AUM at                                  35,552           1,283    564       37,399

 30 September 2023

 Net flows                                     (5,796)          (144)    151       (5,789)
 Acquired assets (Absalon Capital Management)  0                312      0         312

 Performance, market movement, and FX

                                               5,264            27       (27)      5,265
 Total AUM at                                  35,021           1,478    689       37,187

 30 September 2024

 

 

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                                +44 (0)20 3207 7800

 James Felix

 Dan Gee-Summons

 

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 employees(1) 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 (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 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.

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