Impax raked in 10 billion pounds for ESG in the blockbuster year


Assets at the environmental specialist Impax continued to grow as clients invested more than £ 10 billion in their funds over the past year.

In a trading update for the three months to the end of September, the company reported that total customer money rose 8% to $ 37.5 billion over the reporting period.

Over the twelve months it saw net inflows of £ 10.6 billion while market gains added another £ 6.3 billion.

Co-founder and CEO Ian Simm said there was clear evidence that asset owners “are increasingly drawn to Impax’s investment philosophy,” which since its inception in 1998 has focused on moving to a more sustainable economy.

The majority of Impax customers are institutional customers such as pension funds, the Simm Citywire told earlier offers a sustained structural advantage when retail environmental, social and governance (ESG) investments are saturated.

Its share of the retail banking market, for which most of its competitors are competing, is still small with four Irish-based retail funds and the company’s flagship Impax environmental markets (IEM) Investment Trust, which is less than £ 4 billion in total.

Alternative Investment Market (AIM) stocks have soared, hitting an all-time high of £ 13.14 in August and now up 96% over 12 months. In early trading they rose 1.4% and changed hands for £ 10.54.

Key Impax financiers benefiting from the surge include funds managed by BlackRock, Abrdn and Liontrust, among others.

Last month, Citywire A-rated duo Ken Wotton and Brendan Gulston Citywire told hers Gresham House UK microcap Fund posted a profit of more than 1,000% on the stock.

Stuart Duncan, an analyst at Impax real estate agent Peel Hunt, reiterated a buy recommendation but warned that he is trading at the “highest multiple of the peer group.”

“However, it is focused on one of the fastest growing parts of the market, the forecast momentum has been exceptionally strong, and there remain opportunities to further expand the product offerings and increase the potential of the assets under management,” he said.

In its half-year results for the six months ended March, Impax reported that profits increased 80% to 14.4 million. The company doubled its interim dividend from 1.8p to 3.6p.

Impax raked in 10 billion pounds for ESG in the blockbuster year



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