Impax Asset Management

Today we published our final audited results for the year ending 30th September 2024 (Lon:IPX). Over the year we have positioned the business for further growth, including through the acquisition of further fixed income capability, diversification of our distribution channels, product development and through increased focus on client service, including additional reporting and thought leadership. The broadly flat trajectory of our AUM over the 12 months (at £37.2 billion v. £37.4 billion) reflects a positive absolute contribution of £5.3 billion from our investment performance, together with £312 million of acquired fixed income AUM following our acquisition of Absalon Corporate Credit in July. In a challenging environment for active asset managers, we also saw net outflows of £5.8 billion, driven particularly by redemptions within our wholesale channel and concentrated in the first three quarters. This contributed to our revenues falling by 4.7% to £170.1 million. Meanwhile our significant focus on cost and efficiency saw a fall in our adjusted operating costs of 2.4%, leading to adjusted operating profits of £52.7 million, down 9.3% compared to the prior year. Read more our announcement in full here >> https://ow.ly/5zwI50UhtPo

Positive correlations between workforce diversity and better company financial performance continue to be represented in academic and industry findings. Learn more from Julie Gorte >> https://ow.ly/St0Z50Uf9Ae

There is growing recognition that investments in climate resilience must accelerate. The Climate Financial Risk Forum (CFRF) has developed a framework that governments, companies and investors can use to mobilise finance and increase their resilience to physical risks. This scenario framework provides technical guidance for the finance sector on what to be prepared for in making investment decisions and seeking further resilience investment opportunities. Cath Bremner, Chief Strategy Officer, is joining CFRF to discuss these findings. To read more about this work, visit >> https://lnkd.in/ejGz-zbE Financial Conduct Authority Bank of England

Vast private and public investment in US megaprojects, spurred by federal support, underpins structural medium-term demand for equipment rental services. Learn what this means for domestic manufacturing under the upcoming Trump Administration >> https://ow.ly/l48k50UeOPh

For more than 25 years, Impax has pioneered investment in companies enabling the transition to a more sustainable economy, underpinned where relevant by environmental and social taxonomies. This four step 'theory of change' framework describes Impax’s philosophy and approach to 'impact', primarily in thematic listed equities. For professional investors only. Read our latest Impact Report >> https://ow.ly/io2I50Ua6yO

Ian Simm, Founder and CEO joined the Financial Times Future of Asset Management event last week, discussing the intersection between markets and geopolitics. Alongside fellow panelists, Ian discussed the ramifications of recent elections in the US and elsewhere and their potential implications on global trade flows and supply chain strategy – and the investment opportunities that have emerged as a result. To learn more Impax’s views, visit >> https://ow.ly/Tykx50Ua6L9

In our latest Insight, Sanjeev L., Portfolio Manager, discusses why we expect a push for domestic manufacturing under President-elect Trump to lead to a continuation of onshoring trends, while the need to renew ageing US infrastructure is recognised across the political spectrum. Read more >> https://ow.ly/Xm4Q50U9267

With supportive government policy, we believe corporations can move beyond longstanding male-dominated workplace culture, bringing more women into the “Yakuin” executive level and helping lead Japan’s corporates into the future. Learn more >> https://ow.ly/lWaA50U5wns

We’re pleased to be on the ground at #COP29, with a focus on finance’s role in the climate transition. Rui Li (Nana Li), CFA, Head of Sustainability & Stewardship, Asia-Pacific, is busy meeting partners and speaking at the Institutional Investors Group on Climate Change (IIGCC)/Investor Agenda side event on accelerating investor climate action and a Government of Turkey event on sustainable investing. Click through for our asks for countries at COP29 👇

Thank you to everyone who joined us at #CitywireBerlin last week! Our workshop, centered around high yield, centered on our belief that the credit market is inefficient, leaving many attractive opportunities for disciplined investors. Thank you Citywire for a great event! cc: Klaus Blaabjerg, Viktoria von Kunow, Magnus Kristensen, Kirk HOTTE