Impax Asset Management Group plc AUM update (9976S)

TIDMIPX

RNS Number : 9976S

Impax Asset Management Group plc

09 October 2017

Impax Asset Management Group plc - Q4 and full year 2017 AUM update

London, 9 October 2017 - Impax Asset Management Group plc ("Impax" or the "Company"), the AIM quoted investment manager, today provides an update of the development of its assets under discretionary and advisory management ("AUM") for the final quarter of its financial year ended 30 September 2017, as well as an overview for the full financial year.

On 30 September 2017, the Company's AUM totalled GBP7,261 billion, representing an increase of 9% over the quarter and a 61% increase since the start of the Company's financial year on 1 October 2016. This AUM figure does not include the assets managed by Pax World Management LLC ("Pax"), the acquisition of which the Company announced on 18 September 2017 and which remains subject to customary closing conditions.

Ian Simm, Chief Executive, commented:

"The twelve months ended 30 September 2017 was the strongest period of growth for Impax since the Company's inception in 1998. We continue to report good investment performance across our strategies and have seen net inflows from European and US clients in all four quarters."

"The acquisition of Pax will diversify our business, create scale for our operations in North America, and broaden the range of investment strategies we will be able to offer our clients, including fixed income and passive equity. We expect that the transaction will enhance Impax's earnings per share significantly in the first full financial year after completion(1) ."

Figure 1 below sets out further details of the movements in the Company's AUM for the quarter ended 30 September 2017. Figure 2 shows the same breakdown for the full year ended 30 September 2017.

Figure 1

 
 AUM movement            Listed   Private   Property   Total 
  3 months to            Equity    Equity      funds 
  30 September            funds     funds 
  2017                                          GBPm    GBPm 
                           GBPm      GBPm 
---------------------  --------  --------  ---------  ------ 
 Total AUM 
  at 
  1 July 2017             6,236       424         22   6.683 
---------------------  --------  --------  ---------  ------ 
 Net flows                  379        23          -     402 
---------------------  --------  --------  ---------  ------ 
 Market movement, 
  FX and performance        172         3          -     175 
---------------------  --------  --------  ---------  ------ 
 Total AUM 
  at 
  30 September 
  2017                    6,788       451         22   7,261 
---------------------  --------  --------  ---------  ------ 
 

Figure2

 
 AUM movement            Listed   Private   Property   Total 
  12 months              Equity    Equity      funds 
  to                      funds     funds 
  30 September 
  2017                     GBPm                 GBPm    GBPm 
                                     GBPm 
---------------------  --------  --------  ---------  ------ 
 Total AUM 
  at 
  1 October 
  2016                    4,195       285         22   4,502 
---------------------  --------  --------  ---------  ------ 
 Net flows                1,948       155          -   2,103 
---------------------  --------  --------  ---------  ------ 
 Market movement, 
  FX and performance        645        11          -     655 
---------------------  --------  --------  ---------  ------ 
 Total AUM 
  at 
  30 September 
  2017                    6,788       451         22   7,261 
---------------------  --------  --------  ---------  ------ 
 

Enquiries:

Ian Simm, Chief Executive Tel: + 44 (0) 20 7434 1122 (switchboard)

Impax Asset Management Group plc

www.impaxam.com

Anne Gilding Tel: + 44 (0) 20 7434 1122 (switchboard)

Head of Brand & Communications + 44 (0) 20 7432 2602 (direct)

Impax Asset Management Group plc + 44 (0) 7881 249612 (mobile)

www.impaxam.com

Guy Wiehahn or Rishi Shah Tel: [phone]

Nominated Adviser

Peel Hunt LLP

Notes to Editors - About Impax Asset Management

Impax Asset Management manages or advises on approximately GBP7.3 bn(2) in both listed and private equity strategies primarily for institutional clients.

The Company's investments are based on the strong conviction that population dynamics, resource scarcity, inadequate infrastructure and environmental constraints will profoundly shape global markets, creating investment risks and opportunities. Impax expects that these trends, reflecting the transition towards a more sustainable global economy, will drive earnings growth for well-positioned companies. Impax's proprietary investment framework identifies and calibrates the rising risks and expanding opportunities from this transition, and guides the search for investments that will deliver long term outperformance.

(1) excluding exceptional items arising from transition and transaction costs, and the impact of goodwill amortisation.

(2) As of 30 September 2017.

Issued in the UK by Impax Asset Management Group plc, whose shares are quoted on AIM. Impax Asset Management Group plc is registered in England & Wales, number 03262305. AUM relates to Impax Asset Management Limited and Impax Asset Management (AIFM) Limited. Both companies are authorised and regulated by the Financial Conduct Authority and are wholly owned subsidiaries of Impax Asset Management Group plc. Please note that the information provided and links from it should not be relied upon for investment purposes. For further information please visit www.impaxam.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 09, 2017 02:00 ET (06:00 GMT)