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Climate emergency drives Impax AUM again

Dried_up_lakeImpax, a specialist in sustainable investments and listed on London’s smaller companies market, saw a 7% increase in assets under management or advice in the last quarter of 2019 after gaining more than half-a-billion pounds in net inflows.

The firm had assets under management of £16.1 billion (€18.9 billion) at the end of the year. 

During the final quarter (which is Impax’s first business quarter) the firm’s listed equity products had £787 million of inflows, which compares to £1.4 billion for the previous 12 months.

Ian Simm, Impax’s chief executive and founder, linked the firm’s growth in assets to awareness about climate change.

“Despite the challenging environment for equity markets, in the first quarter of our financial year we are pleased to report continued strong inflows of capital. The commitment of policy makers, the business community and wider civil society to combatting climate change, reducing pollution and forging a path towards a more sustainable economy has never been stronger,” he said.

The firm also made the connection between its growth and climate awareness last year.

Assets under advice include for a Danish fund house Formuepleje.

A research note from Peel Hunt, a broker, said Impax’s start to the year had been strong and that forecasts for the full year fund flows could be “overly conservative”.

“The valuation remains high, but this is justified by the unique exposure to a growing part of the asset management sector,” said the note.

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