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Impax Assset Management wins mandate with BNP Paribas client

The mandate is from a Luxembourg-based client of BNPP AM France
The client is based in Luxembourg

Impax Asset Management Group PLC (LON:IPX) has picked up a new mandate from a Luxembourg-based pension fund.

The mandate, for Impax Asset Management Limited, is from a customer of BNPP AM France, the investment arm of the French bank. 

Fees payable to IAM will be paid quarterly, as a percentage of the assets under management.

As BNP Paribas is a significant shareholder in Impax, it is regarded as a related-party transaction under AIM rules.

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