Impax posts solid growth in assets under management

(Sharecast News) - Impax Asset Management said on Friday that assets under management rose 4.4% over the third quarter to £23.3bn at 30 June, as £2.73bn of positive investment performance, market movements and currency effects more than offset net outflows. The quarter included £754m of outflows linked to Impax Environmental Markets' exit tender and a further £994m of net outflows elsewhere.

Chief executive Ian Simm said performance across the group's thematic equities, systematic equities and fixed income strategies had remained strong, with most outperforming relevant indices.

He added that underlying flow trends were improving and that Impax planned to launch its first European UCITS systematic equities product later this year.

At 1624 BST, shares in Impax Asset Management Group were up 19.58% at 113.6p.

Reporting by Josh White for Sharecast.com.

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