Impax has continued to attract strong net inflows of capital and a healthy pipeline of potential new business from asset owners around the world that are seeking investment exposure to the transition to a more sustainable economy
Ian Simm, the chief executive
What it does
The company's investments are based on the strong conviction that population dynamics, resource scarcity, inadequate infrastructure and environmental constraints will profoundly shape global markets, creating investment risks and opportunities.
Impax expects that these trends, reflecting the transition towards a more sustainable global economy, will drive earnings growth for well-positioned companies.
How it's doing
Funds under management rose 7% to £16.1bn in the quarter to December with £771mln of new funds and a £289mln gain from market movements.
In the six months to 30 September, pre-tax profit jumped 29% to £18.9mln, revenue was up 12% to £73.7mln and net cash at the end of the period was £11.9mln.
The drive generally towards greener and more sustainable economies and investments underpinned the improvement said the investment group.
What the boss says: Ian Simm, chief executive
“The commitment of policymakers, the business community and wider civil society to combatting climate change, reducing pollution and forging a path towards a more sustainable economy has never been stronger. “
- The company is planning to make further investments in the renewable energy sphere in the new financial year
- New dividend policy with annual payout to be between 55% and 80% of adjusted profit after tax
- Shares doubled in value during 2019
What the broker says
Broker Peel Hunt added that the inflows in the December quarter were split across a broad range of products with fixed income also seeing an inflow of £51mln, which represented a turnaround from outflows in previous periods.
The broker expects full-year assets under management to reach £17.5bn and raised its price target to 380p from 330p.but lowered its recommendation to 'add' due to the strong performance of the shares last year.