Impax Asset Management continued to struggle with outflows in the fourth quarter of its financial year but saw some relief from favourable market conditions and its recent acquisition.
Stronger market conditions boosted AUM by £1.2bn while the acquisition of Absalon Capital Management in July added a further £312m to the firm's fixed income assets, taking AUM to £37.2bn as at 30 September. This represented an increase of 0.7% over the quarter but a decrease of 0.6% over the financial year since 30 September 2023. Impax AM assets grow 5.9% despite £2.7bn outflows The asset manager did, however, manage to stem redemptions in Q4, which were largely from intermediary clients representing European private wealth investors, such as BNP Paribas Asset Management, with ou...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
