|Impax Asset Man
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Impax Asset Man Share Discussion Threads
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|Update from yesterday
Analysts At Peel Hunt Retained Impax Asset Management Plc (LON:IPX) As Buy
Today analysts at Peel Hunt retained Impax Asset Management Plc’s (LON:IPX) shares as ‘Buy’ in a report released to investors.
According to Peel Hunts price target of 63 on the company’s stock this indicates the broker now believes there is an increase of 28.21% from Impax Asset Management Plc’s current price of 49.14.
In the last year Impax Asset Management Plc’s stock price has increased by 0% from 0.00 to 49.14.
The number of Impax Asset Management Plc shares in issue is 106,725,000 which have a current share price of 49.14 bringing Impax Asset Management Plc’s market capitalisation to 52.44M GBp.
The 52 week high of shares in Impax Asset Management Plc is 53.13 while the 52 week low for the company’s shares is 40. The businesses 50 day moving average is 49.41 and its 200 day moving average is 48.66.
Impax Asset Management Group plc is a United Kingdom-based investment company, with assets under management and advice, primarily for institutional clients through both listed and private equity strategies. The Company is engaged in investment management. The Company operates through three segments: Listed Equity, Private Equity and Property. Its investments are focused on a small number of deeply researched global equity strategies across energy efficiency, alternative energy, water, waste/resource recovery, food and agriculture related markets. The Company offers professional and institutional investors exposure to a range of global and regional equity strategies, including specialists, leaders, water, food and agriculture, and Asia-pacific. It works with sectors, such as energy, waste, and sustainable food, agriculture and forestry. Its subsidiaries include Impax Asset Management Limited, Impax Asset Management (AIFM) Limited and Impax New Energy Investors (GP) Limited.|
|All very good in the trading update. Bought a few more. Enterprise value of £36m is a nonsense for £4.5bn under management. Next year will also no doubt benefit from expanding the PE FUM which must be close given the realisations about a year ago.|
|All very good in the trading update. Bought a few more.|
|Charlemagne was loss making going forward. It's profitability had been boosted by high prior year performance fees which looked (with the benefit of hindsight) excessive.
Impax is a very different proposition with a 20 year growth record and a credible strategy. Think the future is very bright indeed as the move towards green sustainable non-fossil fuel investments is accelerating. Tempted to have yet another top-up.|
Thanks. I had not realised that IPX ever sank as low as 5p but I am glad you made a good profit.
I have been looking at Charlemagne Capital (CCAP) for which Fiera is offering about £40 million. It specialises in emerging markets and had Funds Under Management of $2.2 billion(say £1.7 billion)on 31.08.2016. This price represents £23.5 million per £1 billion of FUM.
IPX has FUM of £4.1 billion and on this basis would be worth £96 million.
IPX has 128 million shares outstanding but owns 15 million itself. So the market cap is 113 million x 47.625p, viz £54 million rather than the £61 million shown by ADVFN.
This FUM figure of £4.1 bn may not be strictly comparable with CCAP's figure but IPX is profitable whereas CCAP is not.
Fiera, a much bigger company, is buying CCAP to fill a gap in its offering of investment funds. Whether IPX would also fill a gap in some larger group's offering I do not know but it does seem modestly priced and we get a yield of about 3%.|
My word you go back a bit, well before me, though I am vaguely aware of the Kern Bridge name. I didn't know they had a rights issue. The IPX story began with the name change , I first invested at 5p and bought right the way up , exited with frustration at the share dilution . I still think it is excessive and of course that is why the share price has done so badly , the constant dilution has killed EPS, anyway, you can read my gripes on the subject on the thread... BUT i believe this problem is largely behind us now and we may see shareholders being rewarded because the company is enjoying great success and in fairness, the team has done well, AUM is up over 50% this financial year . I am expecting the resuts to be good for the next 5 years or so at least..
|Thanks another £0.2 billion jump in a month. Looks cheap versus EPS in 16/17 so could get another re-rating at some point later this year. This is definitely a growth stock in my view, but it's not valued as one.|
Assets under management and advice as at 31 July 2016.
Taken from the website.
|I have bought a few more this morning as well.
|Yes, they are doing very well. Bought this three times this year and very pleased.|
|On 30 June 2016 AUM was ca. GBP4.0 billion, which was 13% higher than AUM at the start of the quarter on 1 April 2016 and 42% more than AUM at the start of Impax's current financial year on 1 October 2015.
Good update. They convert the AUM data into GBP.There are 3 tailwinds here.
GBP weakness, good performance from the funds and they are capturing new business. Maybe a fourth as well , they are now committed to giving profits to shareholders.
|This is a safe haven , it is pretty well untraded!!
|Think this asset manager is at the tipping point. It's in the right sector with a great record and at a point where growth in AUM has a disproportionate impact on the bottom line. As oil, gas and coal start to die as an industry and investment proposition, what a great time to be in the green and sustainable space, particularly when you have been in that space for 20 years already.|
|AUM at 31.05.16 3.7 billion, up from 3.1 billion at 31.12 15.
|Sp moving forward. The fact its thinly traded with a low free float and very wide spread puts off buyers.
It's a buy and hold stock.
|Fantastic update this morning. Looks undervalued to me given the growth being achieved. Starting to hit critical mass. Growth in AUM from this point is going to have a very positive impact on the bottom line.
Added a few more on the back of this as the price hadn't really jumped.
There also seems to be absolutely zero interest in this company on BBs. Another very positive sign in my book!|
|I've doubled up as well. Very cheap for a growth and high yield investment. Not on anyone's radar.|
|I've bought a few more this morning.This is now an income stock with a 5% yield,a progressive dividend policy and a very good chance of earnings growth as the funds perform well and they capture new business. The stock is friendless but at least we have one buyer, see todays notice.
|Yes, interesting point. I'm backing the CEO to take this to £5bn to £10bn of assets under administration before he retires in 5 to 10 years. Looks like a good bet given his track record and the undoubted growing demand for non-fossil fuel investment over the medium term.|
|I have just had a quick check and see that the main funds, leaders, specialists and Water are all performing well and are all positive or therabouts over the tricky last 3 months.Also of interest is that a lot of the fee income arrives in € and USD , curencies that have strengthened approx 8 and 10% respectivley over the past 6 months.
Good tailwinds for GBP reported earnings.
|Welcome onboard! My views are well documented here and I ma cautiously optimistic.
|I've taken a small position in this asset manager. Possibly overlooked in the past because of a high valuation, but cheap growth story now on offer and very well placed for the inevitable end of fossil fuels over the next decade. Their AUM record is quite impressive. Their cost base looks relatively high, so continued growth is needed in AUM but the flip side is that this will disproportionately improve profits.|
|Inflows up 1% is hardly dazzling but the performance of the main funds has been very good , up around 9% in the last quarter alone. Total funds now exceed 3 billion , another milestone. I can remember when I first invested here they managed just 50 million.
The investment proposition for the funds and the shares both look quite compelling to me.