Impax Asset Management Share Discussion Threads

[mammyoko] 03/5/2024 10:32

Risk/reward looking very good here. All the other investment managers are usefully up in the last couple of weeks - PMI, LIO, JUP, POLR - and this one is trundling along the bottom despite having a specialised focus, an excellent track long-term track record and a differentiated offering. I don't think ESG investing is dead.

I could easily see this up 10% in the next few weeks as investors realise that this one has been left behind.

I have been buying in size here so obviously DYOR

[growthpotential] 26/4/2024 23:03

Surely this is hideously undervalued

[tole] 10/4/2024 05:55

https://citywire.com/funds-insider/news/expert-view-imperial-brands-accrol-cyanconnode-johnson-matthey-impax-am/Buy' Impax for the rerating, says Peel HuntImpax Asset Management (IPX) has been the victim of downbeat sentiment towards the investment industry, but a rerating remains in reach, says Peel Hunt.Analyst Stuart Duncan retained his 'buy' recommendation and target price of 700p on the Citywire Elite Companies plus-rated asset manager, which added 2.6% to 454p on Tuesday.A second-quarter update showed assets under management edged 1% higher to £39.6bn over the three months, but the group also suffered further outflows 'as intermediated clients continued to make allocation decisions from equities', with net outflows amounting to £1.7bn.'AUM continues to progress towards our closing assumption, therefore forecasts remain unchanged at present,' said Duncan.The shares have fallen 40% over the past 12 months and the stock is now trading on a December 2024 embedded value to pre-tax earnings multiple of 10 times 'as in general, the sector has continued to modestly derate'.'We remain convinced that when sentiment recovers – perhaps falling interest rates will be the catalyst – Impax will benefit and we therefore retain our "buy" rating,' Duncan said.Previou

[robsy2] 09/4/2024 08:15

Yes- 6% dividend while we wait for more progress.

[edmonda] 09/4/2024 07:52

Driven by very strong investment performance AUM rose nicely by £2.2bn or 6% over H1, reaching £39.6bn

New research note out from Equity Dev with fair value/share still seen at 800p, well above current levels, as you can read here with free access:

[ben gunn] 08/2/2024 11:10

Ex div. Thanks for the heads up.

[albert arthur] 08/2/2024 10:20

Traded this until yesterday to the day before Exdivi... that was a cheeky BOD sale the day before exdivi... looks like a great profit making fund to invest in... but this was an ex divi trade for me.. hope this one does well for all.

[melody9999] 08/2/2024 09:58

Correct Orange - apologies I did not read that corrcetly - genuine mistake

[orange1] 07/2/2024 11:10

Er, not quite. It was a sale following the vesting of shares.

[melody9999] 06/2/2024 23:43

Ian Simm buying

[albert arthur] 02/2/2024 14:50

Doubled down on that gap fill!

[albert arthur] 26/1/2024 16:39

Added some here today. Exdivi 8th Feb, yield just over 5%

[swiss paul] 17/1/2024 18:33

Impax Asset Management Group plc (the "Company") announces that it has received notification of the following transaction in ordinary shares in the Company ("Ordinary Shares") by persons discharging managerial responsibilities.

Julia Bond, Non-Executive Director of the Company, has purchased 6,500 Ordinary Shares.

[edmonda] 09/1/2024 09:00

"AUM up 4.6% in Q1 and fixed income acquisition"

Impax recorded a solid Q1 of FY24, with AUM growing by £1.7bn (+4.6%) to £39.1bn on 31 Dec 23 (30 Sep 23: £37.4bn). This is above the trajectory required to meet our FY24 AUM forecast of £41.1bn (+10% annual AUM growth), but as it is very early in the financial year and markets remain volatile, we have taken a conservative approach and not yet adjusted our forecasts.

It has also announced an acquisition in the fixed income segment. While not huge in the context of the group (£351m or just under 1% of group AUM), fixed income is seen as strategically important and a significant growth opportunity, particularly in the US. Impax Asset Management Ireland Limited has entered into an agreement (subject to closing conditions) to acquire the assets of Absalon Corporate Credit, a fixed income manager of two strategies.

We remain bullish about the prospects of the sustainable investing market generally, and of Impax specifically. The positive AUM update for Q1-24 and the Absalon acquisition reinforce this view and our fundamental valuation remains at 800p per share, 50% above the current share price.

New report with audio here:

[swiss paul] 01/12/2023 21:38

Yep just in and looking - v good presentation - as always. Time for a top up

[varies] 29/11/2023 18:30

It is certainly a relief to see the dividend maintained.
This comes to about 77% of earnings which is near the top of the 55-80% range mentioned by the directors.
It seems unlikely that this will be increased next year unless there is a big increase in earnings but a yield of 6% at the current share price looks attractive.

[swiss paul] 29/11/2023 10:08

Ed, will be recorded as am out then.b/w Swiss

[edmonda] 23/11/2023 08:32

FY results out next Wed 29th , and you can hear from the CEO and CFO on the same day: Webinar open to all investors at 1.15pm, simply register here to attend:

[thelongandtheshortandthetall] 06/11/2023 10:05

I think it just indicates that the whole fund management sector is cheap at the moment.

[varies] 06/11/2023 08:53

At 422p mkt cap of IPX is £583 million whereas mkt cap of Liontrust at 586p is only £381 million. So we care most unlikely to see a bid for IPX from LIO.

[varies] 06/11/2023 08:46

Does Liontrust's recent acquisition of a 10% stake indicate that a combination of the two companies might be under consideration ?

[melody9999] 03/11/2023 09:15

But sharp increase in outflows not specific to IPX. From Q4 AUM update 091023.

On 30 September 2023, the Company's AUM totalled £37.4 billion, representing a decrease of 5.8% over the three-month period since 1 July 2023 and an increase of 4.8% over the financial year since 30 September 2022.

At this point in the cycle, this seems an ideal time to enter IPX which is what I have done this morning. Not expecting the next monthly AUM to be great as it will reflect position at 300923, but if you believe there is a lot of money sitting on the sidlines ready to invest, good to be nimble at this point and get ahead of the crowd.

[wjccghcc] 02/11/2023 13:30

I think it depends on whether the recent sharp increase in outflows is a blip or a fundamental shift in the attraction of ESG investing.