viewImpax Asset Management

Impax Asset Management off to strong start in 2019

At the end of March, the company's assets under management totalled £13.3 billion (US$17.3 billion), representing an increase of 15% over the quarter

Impax has got off to a great start in 2019

Impax Asset Management Group PLC (LON:AUM) saw its shares rise on Monday after the firm reported a 15% increase in assets under management (AUM) in the first quarter of 2019.

AUM at the end of March stood at £13.3bn, up 6% since the start of the company's fiscal year, which was 1 October 2018.

WATCH: Impax Asset Management sees big opportunities as consumers move towards natural foods

"It has been a strong start to 2019 for Impax,” said Ian Simm, the chief executive officer of Impax AM.

“The transition to a more sustainable global economy is yielding a wide range of attractive investment opportunities, and our specialist expertise in this area continues to resonate with asset owners around the world. At a time when many investment managers are experiencing sustained outflows, Impax is attracting a high level of new subscriptions from multiple channels," he added.

In a note to clients, analysts at ‘house’ broker Peel Hunt commented: “Although current AuM is slightly ahead of what we expected, investor sentiment remains fragile and we, therefore, leave our forecasts unchanged for now.

“We are looking for PBT/EPS of £17.7m/10.0p (consensus is £18.5m/10.7p). The stock continues to trade at a premium to the sector (an EV/EBIT of 15.5x vs c.11x), but this remains justified by the medium-to-longer-term prospects.”

Peel Hunt reiterated a ‘buy’ recommendation and 250p target price on Impax AM shares, which in mid-morning trading were 2.6% higher at 241p.

 -- Adds analyst comment, share price --

Quick facts: Impax Asset Management

Price: 526 GBX

Market: AIM
Market Cap: £685.98 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Impax Asset Management named herein, including the promotion by the Company of Impax Asset Management in any Content on the Site, the Company...


Impax Asset enjoys double digit growth across key metrics in 2019

Impax Asset Management Group PLC's (LON:IPX) Ian Simm tells Procactive London they expanded significantly in 2019, with double digit growth across its key performance indicators. He adds that Impax is ideally positioned to benefit as the big push behind the global economy's transition to a...

on 6/2/20

2 min read