Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
magazineImpax Asset Management looks set to regain momentum
Impax Asset Management (IPX:AIM) 162.5p
Gains to date: 28.4%
Original entry point: Buy at 126.6p, 21 September
Our bullish stance on sustainable investment specialist Impax Asset Management (IPX:AIM) is reinforced by an update on the firm’s assets under management (AUM). Impax’s AUM stood at £11bn on 31 March 2018.
This bodes well for first half results expected from the company on the 5 June.
The boost to its assets is due to both its acquisition of US asset manager Pax World Management as well as £1bn in net new money in the first half of its financial year.
The company has beaten its own projections for AUM following the acquisition which completed in January. Targeted growth of 42% implied assets of £10.3bn. During the quarter to 31 March Impax enjoyed inflows of £331m into its products.
This comes despite a recent increase in market volatility, suggesting there’s a real appetite for funds offered by Impax.
Impax now has added capabilities in the US following its acquisition of Pax, with US equity funds, smart beta and fixed income part of the company’s offering.
Important information:
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
