Impax AM's pre-tax profits more than double despite fossil fuel outperformance

Inflows of £2.5bn

Lauren Mason
clock • 2 min read
Revenue increased overall by 46% to £88.6m
Image:

Revenue increased overall by 46% to £88.6m

Impax Asset Management’s pre-tax profit over six months to the end of March soared from £14.4m to £32.7m compared to the same time period last year, while its adjusted operating profit increased by 64% to £34m.

The firm, which described its financial and business activity during the first half of the financial year as "solid", benefited from net inflows from investors of £2.5bn over six months, following the launch of new products, as well as increased investor demand across most of its existing range. However, these inflows were offset by a £1.7bn fall in assets caused by investment performance, market movements and the impact of foreign exchange. While eight out of ten of the firm's largest mandates beat their respective benchmarks over three years to the end of March, its Environmental Ma...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Follows review of 550 funds

abrdn confirms plans to merge or close 100 funds

‘Subscale, inefficient or not aligned’

clock 09 August 2022 • 2 min read
A downturn in UK IPOs and increase in M&A activity have 'unusually' collided

Declining UK IPOs and rising M&A have created a 'perfect storm'

'Unusual to see the two come together'

clock 09 August 2022 • 4 min read
Janine Hofer-Wittwer CFA, SIX
ESG

MiFID II meets ESG and EU regulation

Tight time frame

Janine Hofer-Wittwer
clock 09 August 2022 • 3 min read
Trustpilot