Impax AM assets grow 5.9% despite £2.7bn outflows

Revenue down 4.6%

Impax Asset Management saw its assets undermanagement rise by nearly 6% in the first half of 2024 due to investment performance.

In its half-year results for the six months to 31 March 2024 published today (29 May), the firm posted an increase in AUM by 5.9% to £39.6bn. The rise in assets came despite outflows reaching £2.7bn over the period, mostly driven by its wholesale channel in Europe and with investors switching to a more "risk-off" approach amid a higher interest rate environment. However, Impax said its client retention "overall remains strong". Meanwhile, the company's fixed income arm shed £106m, whereas its private markets division attracted £670m, up from £564m in the second half of 2023. Growth in...