Specialist investment firm Impax Asset Management has recorded a 59 per cent increase in its assets under management for the 12 months to September 30 2016 to reach £4.5bn up from £2.8bn a year earlier.
In its end of year results the company, which focuses on environmental markets and related resource efficiency sectors, stated record net inflows of £496m in the period had helped boost its AUM.
The figures show Impax’s listed equity funds recorded net inflows of £575m alongside positive market movements and performance valued at £1.1bn in the period. This more than offset the small outflows of £79m from the private equity part of the business, which “largely reflects exits from Impax New Energy Investors II, which were made in line with this fund’s business plan”.
Ian Simm, chief executive of Impax, noted: “The further development of an encouraging mandate pipeline indicate that our focus on investing actively in rapidly growing sectors has become increasingly attractive.
“During the period we recorded significant inflows in the form of segregated accounts as well as from third-party distributors. Geographically, both North America and Continental Europe were material. Increasingly investors are looking to mitigate climate risk, so our focus on environmental solution providers continues to gain traction. In order to meet rising client interest, we aim to optimise our distribution channels and are currently reviewing additional partners to augment sales in parts of Europe and Asia.”
Chairman Keith Falconer added: “The company has had a strong year despite the backdrop of a fragile global economy and heightened political uncertainty. It appears that investors must accept material uncertainty in global equity markets for the foreseeable future. Given the sustained and rising demand from investors for exposure to rapidly expanding areas of the economy and to companies solving environmental problems, Impax has significant scope for further growth.”