|
Impax Asset Management Group PLC on Thursday highlighted potential upsides to the upcoming second US presidency of Donald Trump, citing experience from his first term in office. The London-based asset manager focused on investments in the renewable energy, waste and water management sectors said pretax profit fell 6.0% to £49.0 million in the financial year that ended September 30 from £52.1 million a year prior. Revenue declined 4.7% to £170.1 million from £178.4 million. Assets under management on September 30 were £37.19 billion, down 0.6% from £37.40 billion a year ago. Impax Asset proposed a final dividend of 22.9p, unchanged from a year ago, bringing the total payout to 27.6p, also flat. The company said it was focused on positioning itself for further growth, with its broadly flat AuM reflecting a positive absolute contribution of £5.3 billion from the investment performance of the funds and accounts that it manages. Impax Asset said it is encouraged by its prospects, with expectations of a ‘soft landing’ of the US economy enabling improved investor confidence, amid a stable risk sentiment. Looking ahead, Chief Executive Officer Ian Simm said: ‘Experience from the first Trump administration suggests that the next four years are likely to be positive for US-based businesses delivering innovative products and services and in which materials and energy efficiency are significant contributors. Against this backdrop, we are confident that our investment portfolios can deliver excellent returns for clients.’ Impax Asset shares were up 7.0% to 344.00 pence each on Thursday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
