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Impax Asset Management Group PLC - London-based sustainability-focused specialist investor - Reports assets under management on December 31 of £39.10 billion, representing a 4.6% uplift over the first quarter. Chief Executive Ian Simm says: ‘Although asset allocation decisions at some of our wholesale clients have led to net outflows this quarter, we’ve retained all our material client accounts and added some significant new ones, particularly in Europe.’ Simm adds: ‘Looking ahead, we have a healthy pipeline of potential new business and see encouraging signs that the transition to a more sustainable economy is accelerating in many areas. To capitalise on Impax’s commercial opportunities, we have recently seeded two new equity-oriented investment products and made material progress in the development of our fixed income franchise.’ Separately, announces its wholly owned subsidiary Impax Asset Management Ireland Ltd will acquire the assets of fixed income manager, Absalon Corporate Credit. This is subject to certain closing conditions. Absalon, which is part of Copenhagen-based Formuepleje Group, serves European institutional investors. At December 31, 2023, Absalon had approximately £351 million of AuM. Current stock price: 526.50 pence, down 1.4% on Tuesday afternoon in London 12-month change: down 27% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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