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
Impax reported record inflows of £1.8bn in the first half to March 31, though assets under management (AUM) had been affected by coronavirus-related volatility and dropped by 4% to £14.4bn.
Between April and June 2020, the third quarter of the group's financial year, net inflows topped £960mln and AUM surged 25.8% to £18.1bn.
What the boss says: Ian Simm, chief executive (July)
"With our assets under management at £18.1bn, a record high, and an attractive pipeline of new business, it is clear that investor interest in the transition to a more sustainable economy continues to gather momentum.
"Notwithstanding the current Covid-19 crisis, interest from asset owners in Impax's investment capabilities remains very healthy."
What the broker says: Peel Hunt
Peel Hunt raised its operating profit forecast in June, and with AUM in June rising well above year-end assumptions this resulted in forecasts being further increased.
For the full year, the broker expects £81.9mln of revenue and £22.2mln of operating profit, rising to £97mln revenue and £27.9mln of profit in 2021.
Based on that, Peel Hunt also increased its share price target to 420p from 400p.