United StatesImpax, the AIM listed specialist investor focused on the transition to a more sustainable economy, today provides an update on the development of its assets under discretionary and advisory management (“AUM”) for the fourth quarter of its financial year.
On 30 September 2023, the Company’s AUM totalled £37.4 billion, representing a decrease of 5.8% over the three-month period since 1 July 2023 and an increase of 4.8% over the financial year since 30 September 2022.
Ian Simm, Chief Executive, commented:
“Investment conditions continued to remain challenging during the final quarter of our financial year, when moderate redemptions from several of our distribution partners compounded market-driven falls in net asset values.
“Notwithstanding the sustained market volatility, Impax has continued to show its resilience with an up-tick in our assets under management over the financial year, inclusive of overall net outflows of £92 million. This is testament to our strong relationships with clients, our diversified revenue base and our long-term investment approach, which focuses on companies with robust business models that are well placed to benefit from the transition to a more sustainable economy.
“Although the macro environment is leading some clients to delay deploying their capital, we remain confident in the strength of our pipeline and our ability to convert. Meanwhile, we continue to develop new investment capabilities while enhancing our operating model to ensure that the business is efficient and scalable.”
Figure 1: Movements in the Company’s AUM for the quarter ended 30 September 2023.
| AUM movement 3 months to 30 September 2023 | Listed equities | Fixed income | Private markets | Total firm |
| £m | £m | £m | £m | |
| Total AUM at 30 June 2023 | 37,920 | 1,258 | 539 | 39,717 |
| Net flows | (910) | (3) | 20 | (893) |
| Market movement, FX and performance | (1,458) | 29 | 5 | (1,424) |
| Total AUM at 30 September 2023 | 35,552 | 1,283 | 564 | 37,399 |
Figure 2: Movements in the Company’s AUM for the full year ended 30 September 2023.
| AUM movement FY to 30 September 2022 | Listed equities | Fixed income | Private markets | Total firm |
| £m | £m | £m | £m | |
| Total AUM at 30 September 2022 | 33,801 | 1,354 | 521 | 35,676 |
| Net flows | (144) | 2 | 49 | (92) |
| Market movement, FX and performance | 1,896 | (73) | (6) | 1,816 |
| Total AUM at 30 September 2023 | 35,552 | 1,283 | 564 | 37,399 |
LEI number: 213800AJDNW4S2B7E680
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Enquiries:
| Impax Asset Management Group plc Ian Simm, Chief Executive Paul French, Head of Communications | +44(0)2039123000 +44(0)2039123032 |
| Montfort Communications Gay Collins Jack Roddan impax@montfort.london | +44(0)7798626282 +44 (0)78 25670695 |
| Peel Hunt LLP, Nominated Adviser and Joint Broker Paul Shackleton and John Welch Berenberg, Joint Broker Gillian Martin | +44(0)2074188900 +44 (0)2032077800 |
About Impax Asset Management
Founded in 1998, Impax is a specialist asset manager, with approximately £37.4 billion of 30 September 2023 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approximately 300 employees1 across its offices in the United Kingdom, the United States, Ireland, Hong Kong and Japan making it one of the investment management sector’s largest investment teams dedicated to sustainable development.
1 Full-time equivalent
Issued in the UK by Impax Asset Management Group plc, whose shares are quoted on the Alternative Investment Market of the London Stock Exchange. Impax Asset Management Group plc is registered in England & Wales, number 03262305. AUM relates to Impax Asset Management Limited, Impax Asset Management (AIFM) Limited, Impax Asset Management Ireland Limited and Impax Asset Management LLC. Impax Asset Management Limited and Impax Asset Management (AIFM) Limited are authorised and regulated by the Financial Conduct Authority and are wholly owned subsidiaries of Impax Asset Management Group plc. Please note that the information provided on www.impaxam.com and links from it should not be relied upon for investment purposes.
Impax is trademark of Impax Asset Management Group Plc. Impax is a registered trademark in the EU, US, Hong Kong and Australia. © Impax Asset Management LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland) Limited. All rights reserved.
1 “The Morningstar ESG Commitment Level – Impax” by Ronald van Genderen. ©2022, Morningstar, Inc. All Rights Reserved.