UK's Impax Asset Management slumps after losing St. James's Place mandate

Impax Asset Management

13/12/2024 08:45

** Shares of investment manager Impax Asset Management Group
 IPX.L  fall 17% to 272p; among top losers across all London
stocks
    ** Co says St. James's Place  SJP.L  to terminate IPX's
mandate to manage the Sustainable & Responsible Equity Fund
    ** Adds, the mandate is the only one that IPX has with SJP
and totalled about 5.2 bln pounds ($6.57 bln) of assets under
management as of Nov. 30
    ** IPX sees impact on its revenue from termination to be
about 12.7 mln pounds on an annualized basis
    ** As of last close, stock down 40.5% YTD





($1 = 0.7919 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)
 ((DhanushVignesh.Babu@thomsonreuters.com;))