Impax Asset Management Group Plc (IPX.L), the AIM-listed specialist investor in sustainable economy transitions, reported that its assets under management or AUM stood at £28.5 billion as of February 28, 2025, down from £34.1 billion at the end of December 2024.
CEO Ian Simm noted that while equity market trends have shifted, 69% of Impax-managed strategies have outperformed their benchmarks since January. The decline in AUM was primarily due to the previously announced loss of the £5.1 billion St. James's Place Sustainable & Responsible Equity Fund mandate. March is also expected to see net outflows due to institutional account closures, though these lower-margin accounts had less financial impact.
To counter the AUM decline, Impax has accelerated its efficiency program, cutting over 30 roles (10% of staff) since October 2024, reducing annual costs by over £11 million while maintaining growth potential. The company remains focused on expanding its investment offerings, particularly in fixed income, where it anticipates regulatory approval in Germany for its acquisition of SKY Harbor Capital Management's European assets.
Impax is also assessing capital allocation for product development, acquisitions, dividends, and share buybacks to maximize shareholder value. With growing investor interest in sustainable investments and competitors exiting the space, Impax sees strong opportunities for business expansion.
The next AUM update will be released in April 2025.
IPX.L is currently trading at the $174 or 0.93% higher on the LSE.
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