Impax sees assets surge by 72%

Impax sees assets surge by 72%

Impax Asset Management saw its assets under management soar due to an acquisition and significant inflows.

In its fourth quarter statement, published today (8 October), the environmentally-focused investment group said its assets had grown by 72 per cent in the 12 months to the end of September to reach £12.5bn.

During that time Impax acquired Pax World Management, which bolstered its assets by more than £3bn.

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But Impax also saw net inflows of £1.46bn over the 12 months, with £257m of new money arriving in the last three months of the reporting period.

Ian Simm, Impax's chief executive, said: "Asset owners around the world are increasingly seeking investment exposure to the sustainable economy, and Impax continues to build a strong pipeline.

"During the next quarter we expect to commence the management of over £400m in new mandates that have already been announced publicly."

Over the summer Impax announced it would take over the management of St James's Place's £286m ethical fund, which will become known as the Sustainable and Responsible Equity fund.

Market movements and performance amounting to £781m added to the inflows gathered throughout the year. 

This morning the Intergovernmental Panel on Climate Change published a report outlining how the world’s temperature is set to rise significantly in the near term, and how substantial investment was needed to avoid it.