Impax ended the year with £39.1bn assets under management, pushing its AUM up 4.6% in the final three months of 2023
While Impax suffered £988m in total firm outflows during the first quarter of its fiscal year, ending on 31 December, performance increased assets under management by £2.7bn. Private markets had inflows of £49m for the quarter while fixed income felt outflows of £88m and listed equities bled £948m.
Ian Simm, chief executive, said: “This quarter, after more than 12 months of market headwinds, the investment performance of our principal strategies has strengthened significantly, underpinning a 4.6% jump in assets under management.
“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.”
Fixed income had a net negative flows for the first quarter, dropping from £1.3bn AUM to £1.2bn AUM. Listed equities pulled weight for the company, ending with £37.3bn AUM from £35.6bn AUM.
In the fiscal year ending 30 September, Impax had an increase of 4.8% on the year, despite a 5.8% drop in the fourth quarter.
“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,” Simm said.
“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.”