Impax Asset Management Share Discussion Threads

[melody9999] 09/7/2025 11:01:11

so I topped up around 195/196

[melody9999] 09/7/2025 07:48:46

Net flows positive in June seems an encouraging shift as -£1.3Bn overall must have meant higher outflows in April and May. Guess April was poor, May less so but still negative whilst June positive ie going in the right direction.

[edmonda] 09/7/2025 07:37:02

"AUM +3% in Q3 on strong markets and acquisition" - link to new note with audio summary here:

AUM increased 3% over Q3 of FY25 (year-end 30 Sep 25) to £26.1bn on 30 Jun 25. Investment performance boosted AUM by +£1.0bn, or 4% of opening AUM. The Sky Harbor acquisition in the fixed income space closed on 1 Apr 25, adding £1.1bn. Net flows were negative at -£1.3bn, but positive in the month of June - a material improvement on recent quarters.

Impax said the improving net flow situation “reflected strong institutional client commitments and fresh momentum in our wholesale channels in Europe.” It also noted that most of its AUM follows investment strategies that have outperformed their generic benchmarks this year, which bodes well for future flows.

Our previous forecast for end-FY25 AUM was £25bn,i.e. lower than current AUM. But markets are volatile with much uncertainty, especially around US trade/tariff policy. So for now we take a conservative approach and leave our FY forecast unchanged.

However, we would again highlight Impax’s deeply discounted PER in comparison to sector peers and believe it to be a robust business with a huge opportunity. Our DCF valuation remains at 400p / share, more than twice the share price.

[luckymouse] 13/6/2025 15:28:09

fwd yld might be 12-13% area if they are reducing tot annual div by say c.15% & doing buybacks, which is the correct thing to do, ease back the yld some & let it lift

[cestnous] 13/6/2025 10:24:51

Emailed them with a screen shot. a temporary error. Now showing 14.3%

[10076968] 12/6/2025 10:20:03

Think you need to check again.

[cestnous] 12/6/2025 08:28:15

Dividend max has the current dividend yield @ 2%!

[cestnous] 05/6/2025 14:19:15

Bought more on the diplet

[clive7878] 30/5/2025 22:54:12

From a quick glance in the I.C.
pros are - cracking final dividend, and a lot of cash in the bank.

[luckymouse] 30/5/2025 13:29:38

free stock charts from uk.advfn.com

[bertiebingo] 27/5/2025 17:02:09

I worked for a firm which went through similar , AUM collapsed over a number of years but management kept telling us about the "hockey stick recovery" coming as they thought the situation was stabilising. Problem is that PMs leave for better opportunities, sales leave as simply trying to retain AUM (therefore no bonus). AUM falls further so the firm cuts more costs and people. My firm had the added problem of big debts and pension fund liability. Seen this story so many times and never ends quickly or well eg Jupiter , Aberdeen, Martin Currie. Perhaps Impax is different but be cautious and watch for staff exits (a bad sign) and the reported numbers not what management say aka marketing noise. I noted all this in January and so far it's playing out.

[aishah] 27/5/2025 16:25:06

Full article here

[yags] 27/5/2025 16:12:53

anyone read this? behind paywall. can't see if anything useful in there

[varies] 27/5/2025 10:26:51

Lucky Mouse
Thank you for your explanation of DFV

[spectoacc] 27/5/2025 06:54:32

25k bought at 175p on Friday, this buy back could last for some time..

[luckymouse] 26/5/2025 18:28:07

Aside form the technicals, It may be rates & megacap rotation sensitive is the fundamental point

DFV is american trdr slang from the gamestop saga meaning very deep value, so to speak :)

[varies] 25/5/2025 20:01:12

Lucky Mouse
If you go back to October 2016, you will see prices below 50p.
I have sold about a quarter of the shares l bought then and only wish that a reluctance to pay the CGT had not discouraged me from selling more.
We can see now that £15 was a fanciful price but l agree with you that the shares are attractive again at about 180p and so I have bought back most of the shares l sold.
I look forward to the presentation due next Thursday.
Excuse my ignorance but what do you mean by DFV ?

[luckymouse] 25/5/2025 14:58:41

after a brutal dbl count sell off (& a courtesy rug pull, gotta love those makers) - WFH darling IPX appears to have finally turned
1500 to 150 = -90% off peak - prob safe to say that's hit DFV

free stock charts from uk.advfn.com

[martinmc123] 22/5/2025 11:52:46

wealthoracle.co.uk/detailed-result-full/IPX/1433

[spectoacc] 22/5/2025 11:00:06

Buy back in a thin stock can't hurt - been a slow burner this morning, went negative at one point.

[aishah] 22/5/2025 10:58:19

Huge volume already. Will we see a sustained rise here now?

[spectoacc] 22/5/2025 09:19:38

Ex cash, the rating is v low even if the AUM drip continues.

As & when it reverses, they'll look really cheap. Depending on where the bottom is of course :)