London-based green fund house Impax Asset Management saw its assets under management (AuM) increase 6% to £13.3 billion (€12.1 billion) in the first half of its financial year to March 31, despite market volatility. As of April 30, AuM have risen to £13.7 billion.
Over the course of the entire financial year since March 31, 2018, the firm’s AuM have grown by 20%.
Impax saw inflows of nearly £900 million throughout the period, marking 14 consecutive months of positive flows, according to its half-yearly interim results published on Wednesday.
During the beginning of the period, however, global equities initially fell as investors responded to geopolitical uncertainty, the tightening of monetary policies, the escalating China/US trade war, and Brexit.
At the start of 2019, sentiment recovered and the markets rebounded, according to chief executive Ian Simm.
Revenue dropped off slightly compared to the second half of its previous financial year, reaching £33.8 million, down from £40 million. This still marked an increase compared to the previous first half, which saw revenues of £25.7 million.
Profit before tax continued to rise, however, increasing to £9.3 million from £9.1 million in the previous half – and nearly doubling compared to the same period last year.
Set up in 1998, Impax is a specialist asset manager which aims to invest in opportunities that arise “from the transition to a more sustainable global economy”.
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