- AUM net outflow of £5.8bn
- Positive investment performance
When looking at full-year figures for Impax Asset Management (IPX), you would be justified in asking whether support for stocks synonymous with environmental, social and governance (ESG) mandates has already peaked.
Impax invests in companies engaged in the “transition to a more sustainable global economy”. For a time, that worked out rather nicely in terms of assets under management (AUM). Consider that AUM increased by 84 per cent in the year to September 2021. This time, the group registered a net outflow of £5.8bn, with client redemptions primarily made through the “wholesale channel and largely by retail clients served by third-party distribution partners”.