Impax sees record inflows despite political volatility

Impax sees record inflows despite political volatility

Impax Asset Management saw record total net inflows of £870m during the six months to the end of March.

The asset manager, which focuses on environmental markets, posted profits before tax of £2.4m – up from £2.1m on the same period last year.

Assets under management increased by 27 per cent to reach £5.7bn by the end of the six month period.

Revenues for the six months ending in March were up to £13.9m from £9.4m in the same period last year.

Ian Simm, Impax’s chief executive, said the company was seeing “sustained” interest from investors around the world – particularly North America and continental Europe – despite political volatility.

He said: “Environmental markets continue to evolve and the number of companies active in these sectors has again risen.

“For example, companies that are improving resource productivity are increasingly deploying business models based on advanced software and the manipulation of large datasets.

“The food, agriculture and forestry sector is also giving rise to an increasing number of investable businesses.

“Here, the value chain is being disrupted by a range of environmental and resource challenges, including climate change and soil degradation, as well as tightening regulation and changing consumer preferences.”

He expressed scepticism that US President Donald Trump’s “proclamations” on climate change would have an impact because there was support for the development of renewable energy in Congress.

Mr Simm also pointed out that the 2015 Paris Climate Agreement had international support despite Mr Trump’s threat to “cancel” it.