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Impax Asset Management Group PLC on Thursday reported a drop in managed assets over the second quarter of its financial year, mainly on a decline in market movements and performance.
As at March 31, assets under management dropped 8.1% to £38.02 billion from £41.35 billion at the end of December, driven by a £3.81 billion drop in market movements, foreign exchange and performance, particularly in listed equities.
‘Despite market headwinds, Impax has seen positive net flows over the recent financial quarter. Companies whose business plans are aligned with a more sustainable economy should continue to offer compelling opportunities for investors. In particular, Russia's invasion of Ukraine and the recent sobering reports from the Intergovernmental Panel on Climate Change have reinforced the drivers behind many of the markets in which Impax invests, particularly renewable power generation, zero-emissions transportation and resource efficiency,’ said Chief Executive Ian Simm.
Shares in Impax Asset Management were down 5.5% at 956.10 pence on Thursday in London.
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