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Impax Asset Management Group PLC shares slumped on Friday after it said assets under management fell in its second quarter as outflows continued. The London-based investment manager focused on sustainable ventures said assets under management at the end of its second quarter on March 31 were £22.31 billion, down 8.0% from £24.24 billion in September. The firm reported net outflows of £2.01 billion. Shares in Impax Asset Management were down 23% at 97.06 pence on Friday morning in London. ‘Since January, after a difficult three-year period for investment managers like Impax that focus on actively managed thematic strategies, markets have been considerably more favourable,’ Chief Executive Ian Simm said. Impax Asset Management said 63% of its assets under management outperformed in the second quarter, despite recent market turbulence. ‘As many asset owners base their investment decisions on historical numbers over at least one year, we were not surprised to see a continuation in net outflows, driven principally by redemptions from a small number of institutional investors. By contrast, net outflows in our wholesale channel were lower and we continue to see an improving trend in flows via our largest distribution partner,’ CEO Simm said. Simm expects an exit tender offer plan at Impax Environmental Markets to ‘lead to the loss of most of the assets that we currently manage in this investment trust’. ‘However, we aim to retain a meaningful percentage of those assets by offering a switch to the equivalent Impax UCITS fund, managed by the same team,’ Simm said. Impax Asset Management expects annual revenue in the region of £109 million and £113 million. In the year ended September 30, revenue amounted to £141.9 million. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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