Impax AM assets drop 5.8% on quarterly outflows and market movement

Outflows near £900m

Impax Asset Management saw its assets under management drop by nearly 6% in the fourth quarter of its financial year, due to heavy outflows and losses from its listed equities exposure.

In the three months to 30 September, the firm's assets fell by 5.8% to £39.7bn, with total outflows amounting to £893m and market performance losses of £1.4bn.  While private markets attracted £20m, Impax was hit by significant outflows from listed equities, totalling £910m, while fixed income shed £3m.  The Big Interview: Impax CEO on avoiding 'lazy' ESG acronym and doubling assets by 2030 In the year to the end of September, however, the firm's AUM rose 4.8%, mainly due to performance gains of £1.8bn, which greatly offset redemptions worth £92m.  CEO Ian Simm said investment c...