Markets and currencies contract Impax assets under management

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Specialized investor Impax reported a decrease in assets under management in a Thursday update, due to market movements and exchange rates.

The AIM-listed company said its assets under management as of March 31 were £38 billion, down 8.1% for the quarter.

He said total net flows for the three months were positive at £468m, but that was more than offset by negative market, currency and performance movements of £3.81bn.

“Despite market headwinds, Impax recorded positive net flows in the last financial quarter,” said chief executive Ian Simm.

“Companies whose business plans are aligned with a more sustainable economy should continue to offer attractive opportunities to investors.”

Simm said Russia’s invasion of Ukraine and recent reports from the Intergovernmental Panel on Climate Change have strengthened the drivers of many markets in which Impax invests, particularly renewable energy generation. , zero-emission transport and resource efficiency.

“Our investment approach, with a strong focus on risk and a focus on quality companies, is attractive to asset owners looking to build strong portfolios in this area.”

At 11.46am BST, shares of Impax Asset Management were down 5.29% at 958.5p.

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