They just need to sit it out and focus on the business. |
I emailed IPX and received a positive response of confidence in the company but no real detail. I suggested the Directors buy some shares |
It's driven by assets under management and being an operationally leveraged business. Turbo beta play. It's just a feature of asset managers. Greaham doing well as manages more real assets, but everyone else is getting hit. Not a lot the execs can do! I'd rather they focus on medium term strategy |
From a chart perspective I was thinking it would bounce from a support level of about £5. |
Not sure IPX is great at anything at the moment with 60% down on its ATH. I emailed the company and have had no response....its the daily grind of fall fall fall and its not even a tech stock |
 We have a great show lined up for tonight and IMPAX are the first presentation...
The full programme for the evening is here...
Monday 13th June 2022, 5pm – 9pm
Programme
5.00 pm Mello welcome and Company presentation by Impax AM with Ian Simm
5.30 pm Gervais Williams – Inflation changes everything – How the UK stock market could come to be the asset of choice for global investors
6.00 pm Nicky Foulston CEO at RBG Holdings shares her insights into the recent RNS concerning the share register
6.30 pm Paul de Gruchy presents – Alternative Funds: more than a safe port in a storm?
6.50 pm Company presentation by Hercules Site Services
7.30 pm Vector Vest
7.45 pm Specialist insight – Steve Clapham looks at The Wire Card Fraud
8.00 pm Mello BASH
You are welcome to join and as this is no doubt important for you all to watch I am happy for shareholders to join for free using the code FREE1306 but please do not share elsewhere as this is a ticketed show and there will be hundreds of investors who have paid to join. |
steadyaway,yeh Charlie’s either a very savvy fella………or got lucky? Probably a bit of both.
Are we near the bottom? On the other hand, it’s still up nearly 600% over five years! Maybe further to go. GLA |
Looks like Charlie made a great call to sell! With that level of foresight about the impending rise in bond yields early Jan and his anticipation of the invasion of Ukraine his talents are clearly wasted. When he sets up his hedge fund I'm in. Or he could have just been diversifying his net wealth given record multiples and probably sat on a load more options due to vest. Don't disagree that short term energy security is taking centre stage. But let's be realistic... in 5 years' time is the world going to be spending more or less on alternatives to fossil fuels relative to the default without invasion? |
The CFO selling a large chunk at recent highs probably didn’t help,He knows more than anyone about the financial situation, It’s also fallen since the Russia -Ukraine situation, Oil+Gas currently flavour of the month and will be for the next few years. |
Grandeur Peak, Norges Bank and Blackrock, all going up in holding as per the TR1s released this year, with no corresponding sells announced. Guessing they are soaking up retail held stock on the back of profit but who knows... |
Suppose it depends on how loosely you define peers. E.g. Schroders had inflows of 5% last year, versus 53% for Impax. |
If its valued in line with its peers (Schroders, Rathbones etc) - then a PE of 10-12 is a share price of 400 - 480p. |
And assets under investment as at the end of May are ever so slightly up as compared to the end of April(37026m v 37018m). |
And odd versus read across to Environmental Markets, which is off its lows and tracking sideways. |
Agree GP - AUM announced today are flat for May. Just 10% below the high. Meanwhile the share price has fallen by over 50% |
Hi melody9999. The recording is on their website. |
any insights from the presentation? I couldn't make it. |
H1-22 results highlight just how impressive Impax’s progress over the last year has been, given that sharp equity market falls resulted in an 8.1% drop in AUM over Q2 alone.
AUM was up 27% year-on-year (31 Mar 21: £30.0bn), revenue 46% (£88.6m v £60.6m in H1-21), adjusted operating profit 64% (£34.0m v £20.7m), and net cash 88% (£72.0m v £38.3m). Impax maintained positive net inflows of +£2.5bn over the half-year (and importantly, +£0.5bn during the turbulent Q2), sourced from a diverse range of clients, geographies, and channels.
Over the short-term, continuing equity market weakness, particularly in ‘sustainable economy’ and ‘growth-oriented’ stocks which are common in Impax’s strategies (the FTSE Environmental Opportunities All-Share Index was down 16.1% between 1 Jan 22 and 29 Apr 22) has pegged back our FY22 growth forecasts slightly. We now expect AUM to grow by around 9% y-o-y to £40.5bn on 30 Sep 22, and revenue to grow by 26% to around £180m.
However, we believe that for the sustainable investing market generally, and for Impax specifically, the medium-longer term growth outlook remains bullish. At a market level, even during the turmoil of (calender) Q1-22, flows into sustainable funds remained positive. According to Morningstar, the European sustainable fund market (81% of global sustainable fund assets) attracted US$78bn of net inflows while conventional funds saw US$21bn of net outflows. Moves to reduce dependency on Russian fossil fuels will almost certainly accelerate the shift to renewable energy. Additionally, a growing backlash against greenwashing will favour the most credible sustainable investment managers such as Impax.
We have reduced our core value slightly from 1260p to 1225p, primarily because of the slightly reduced AUM and revenue outlook for the full FY22 year. However, even our reduced value remains over 65% above the current share price. |
Expect this at least back to £7.86 and more when the yanks wake up before and during presenting should see volume... 50m revs from North America circa 35% of revs ... nice results... looks like some traders wanted exit on scheduled results... |
Given the change in sentiment towards fossil fuel stocks in the last few months, the under-performance of the managed funds was inevitable.
Prospects are unexciting for 2022 and it is certainly hard to see the share price recovering to anywhere near previous highs. The rating still looks high but not extravagant.
I look forward to this afternoon's presentation. |
Although didn't expect this reaction! |
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