AIM-listed Impax Asset Management today announced interim results for the six months to 31 March 2021.
The results show record inflows of £6.8 billion, lifting AUM to £30 billion. More than doubling n a year-on-year basis The firm’s thematic environmental markets strategies performed particularly well.
The acquisition of US-based PAX World Management is now fully bedded in, positioning its North American business for further expansion.
Impax’s revenue increased to £60.6 million, with pre-tax profit up to £16.4 million at the end of the reporting period. This is an increase on the prior year’s £41.2 million and £8 million respectively.
Ian Simm (pictured), Chief Executive, commented: “Impax has made further excellent progress during the first half of its financial year. Notwithstanding the challenges imposed by the COVID-19 pandemic, the business has continued to grow, with assets under management and advice (“AUM”) increasing by almost 50%, including £6.8 billion of net inflows.
“Amid rising interest in the transition to a more sustainable economy, our long track record and broad-based distribution capabilities and relationships have helped us to stand out from the crowd as we secured major new mandates, while also increasing significantly our business with many existing clients.
“Over the next few years we expect the companies in which we invest to continue to prosper as markets for clean energy, resource efficiency and low-carbon technologies expand rapidly. Against this background, Impax is well positioned for further success.”