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Impax Asset Management Group PLC - specialist investor focused on transition to sustainable economy - Assets under discretionary and advisory management grow over the fourth quarter of the company’s financial year but are down on a year before. AuM is £37.19 billion on September 30, the end of its financial year, up 0.7% from £36.93 billion on June 30. Impax suffers £1.20 billion in net outflows during the fourth quarter, but benefits from £1.15 billion in market performance and currency gains, plus £312 million in fixed income assets acquired with Absalon Capital Management. However, compared a year before, AuM ias down 0.6% from £37.40 billion. Net outflows during financial 2024 of £5.79 billion outweigh £5.27 billion in market and currency gains, plus the contribution from the Absalon acquisition in July. Chief Executive Ian Simm says Impax saw stronger market conditions in the fourth quarter, partly thanks to interest rate cuts. ‘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,’ he says. Current stock price: 372.50 pence 12-month change: down 6.3% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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