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Impax continues to attract strong inflows of funds

Snapshot

  • Invests in companies set to thrive in the sustainable economy
  • Benefits from increased interest in the transition
  • Assets under management were £15.7bn as of November
Money growing in jars

Quick facts: Impax Asset Management

Price: 385 GBX

AIM:IPX
Market: AIM
Market Cap: £502.1 m
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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

Impax Asset Management PLC (LON:IPX) manages or advises on both listed and real (ie physical) asset strategies. 

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. “       

Video

 

Inflexion points

  • 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.

 

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Watch

Impax discusses the challenges for investors as the world transitions...

Impax Asset Management Group plc (LON:IPX) portfolio manager Bruce Jenkyn-Jones discusses why we've seen an increasing focus throughout the course of this year on climate risk. He also talks through what he's expecting to be the key themes to look out for in 2020 and how Impax will be...

on 20/12/19

2 min read