Impax Asset Management Share Discussion Threads

[edmonda] 08/10/2019 12:45

Some pertinent questions raised - and after today's update of 20% growth in AUM over last year, research note just published by Equity Development covering the potential for further strong revenue growth and benefits of considerable ESG experience.

Click here for free access to note:

[robsy2] 08/10/2019 12:03

So,AUM is up 20% year on year, good progress but of course the rating is pretty high already. With EPS at around 10p for the year to 30.09.19 we are now on a PER of 25 ish.
I imagine they will need to keep growing assets by 20% plus a year to keep that rating. I am still fairly bullish long term but at the end of the day it is a fund management company and rated more or less twice as highly as REC and CLIG, my two other holdings in the money management space.
For me it's a HOLD at best. I want to invest in the sustainable economy and also am happy about the PAX investment in the women funds etc (I don't know the correct terms but totally believe in gender equality). It's a good place to be long-term and it's been so easy to catch the trends here using IPX and of course it's been mighty good to date, but, maybe the challenge now is the valuation and the dilemma of finding better alternatives to IPX.
Any suggestions welcome.

[edwardt] 13/9/2019 21:39

Love these to sell off sharply so I can pick em up

[dan hol] 09/9/2019 08:17

only 212m down on August - pretty good given what a dismal market it was generally - imagine this means there was actually some net inflows on the month. Be nice to end the financial year with going past 15bn at the end of sept. Onwards.

[edwardt] 29/8/2019 14:14

that is not inflow but thanks anyway.

[topvest] 14/8/2019 21:58

They announce AUM on their web-site every month.

[edwardt] 14/8/2019 21:15

Where did you get July inflow number from please?

[robsy2] 08/8/2019 12:30

Indeed. The trend is our friend here. Pretty faultless so far.
R2

[topvest] 08/8/2019 12:14

Yes, very positive again. Think 2019 and 2020 will probably see a bit of share price consolidation. Medium term looks very bright though - just think about the profitability when and if AUM get to £30 billion.

[dan hol] 08/8/2019 11:32

Another 348m AUM announced today for july, taking us to just under 15bn. Pretty impressive and continues momentum from previous month. Imagine August will be a tough month to make any incremental increases given general market conditions, but we shall see....

[topvest] 01/8/2019 20:58

Yes, I’m still more than happy to hold. Prospects look excellent.

[dan hol] 01/8/2019 14:17

Don't think there are any downgrades - tho' maybe Peel Hunt switched from buy to hold a couple of weeks back. From what i can make out the slight fall in price is down to one big forced (presumably) seller whose been drip feeding a constant stream of algo/automated sales over the last 10 days. Fundamentals remain fantastic (did anyone catch carney on C4 news last night?) and this slight sell-off is just a wonderful buying opportunity. Well that's what im doing anyway.

[edwardt] 01/8/2019 12:19

Who has downgraded?

[nchanning] 31/7/2019 10:52

Can anybody explain the broker downgrades while AUM continues to grow rapidly ?

[edwardt] 26/7/2019 15:05

schroders just bought an impact investing firm as they said it is a mega trend.

[topvest] 08/7/2019 16:58

Yes, it’s all looking very positive. When they eventually sort out Pax in the US, the business will be flying. Always at the mercy of the markets, but medium to long term, it’s very well positioned.

[dan hol] 08/7/2019 08:57

AUM up £900m in a month to 14.53bn. Go IPX

[robsy2] 05/7/2019 16:42

Thanks for that . This continues to look good. I bought a few more this morning.
R2

[edmonda] 05/7/2019 16:16

Investors can watch for themselves : the shares have been strong in recent years as its focus on a more sustainable economy has attracted significant inflows.

Ian Simm, Founder and Ceo, in a detailed interview (26 mins)at ED discusses both recent results and prospects here:

[edmonda] 11/6/2019 17:59

Robsy2 gives a good summary above.

Results were fine and slow PAX AUM was more due to a hit on all US equity mutual funds at end '18 than anything to do with their funds performance (which was fine).

So in a great space , with a strong 20 year record: what's not to like?

Updated research and forecasts out today from Equity Development, free access here:

[topvest] 06/6/2019 15:31

May AUM £13.6BN vs. £13.7BN in April.

[topvest] 05/6/2019 08:45

Interim results out. Excellent growth on Impax side of the business. Pax still a bit disappointing, but does mean they won't have to pay out the contingent consideration which has given them a £2.2m benefit. It will be interesting to see what the May AUM look like. H1 was impacted by a very difficult q1 and a much stronger q2. H2 should be much stronger with higher average AUM. Looks like a bit of a pull back today, as nothing much to get too excited about. 4.5p full year dividend projection is nice though and is a 10% yield on my original cost.
Useful presentation here
hxxps://www.impaxam.com/sites/default/files/Impax-2019-Interim-Results-Presentation.pdf

[tomps2] 05/6/2019 07:48

IPX presentation at Mello May 2019 by Ian Simm, Founder & CEO

[topvest] 02/6/2019 20:05

Yes, doing nicely. My biggest position. Outlook is very promising.

[dan hol] 31/5/2019 13:31

all time high today. Interims out on weds. Hope everyone's enjoying the ride x