Proactive Investors - Run By Investors For Investors

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 --

View full IPX profile View Profile

Impax Asset Management Timeline

Related Articles

March 12 2019
"Over the past 25 years, S&U has consistently demonstrated its ability to adapt to the kinds of economic and political uncertainty we all currently face," said chief executive Anthony Coombs.
CSE head office in Toronto
January 01 2019
Capital raised on the CSE set to increase over 500% by the end of 2018
December 05 2018
“I think we’re a different generation of bank that is a lot quicker on our feet, a lot quicker at reacting to what customers want and are a lot more attractive to the savings market,” PCF boss Scott Maybury said

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use