Impax Asset Management suffered over £1.7bn net outflows in the first three months of 2024, driven mostly by redemptions from intermediary clients largely representing European private wealth.
The vast majority of outflows came from the sustainable investment specialist's listed equities franchise, which shed £1.7bn, while fixed income net outflows were £18m. Private markets, meanwhile, attracted £66m. In a trading update today (9 April), CEO Ian Simm said that although net flows were "moderately negative", the outflows were overwhelmingly from a small number of intermediary clients largely representing European private wealth. The chief executive noted the firm recorded an increase in the number of institutional clients, and no segregated mandate terminations. The Big ...
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