Impax Asset Management Group plc
("Impax" or the "Company")
Update on assets under management
London, 13 December 2024 - Impax Asset Management Group plc announces that it has received a notice from St. James's Place Unit Trust Group Limited ("SJP") of termination of Impax's mandate to manage the Sustainable & Responsible Equity Fund (the "SRE"), (the "Mandate"). The termination is expected to take effect in February 2025 subject to approval by the SRE unitholders at an Extraordinary General Meeting on 9 January 2025.
The Mandate is the only mandate that Impax has with SJP and totalled c.£5.2bn of assets under management ("AUM"), as at 30 November 2024. The impact on Impax's revenue is expected to be circa £12.7m on an annualized basis.
The termination of the Mandate has been driven by SJP seeking to further diversify the fund across investment styles.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
- Ends -
Enquiries:
| Impax Asset Management Group plc Ian Simm, Chief Executive Paul French, Head of Communications |
+44 (0)20 3912 3000 +44 (0)20 3912 3032 |
| Montfort Communications Gay Collins Jack Roddan |
+44 (0)77 9862 6282 +44 (0)78 2567 0695 |
| Peel Hunt LLP, Nominated Adviser and Joint Broker Andrew Buchanan Dan Webster Berenberg, Joint Broker James Felix John Welch Dan Gee-Summons |
+44 (0)20 7418 8900 +44 (0)20 3207 7800 |
About Impax Asset Management
Founded in 1998, Impax is a specialist asset manager, with approximately £37.2 billion as of 30 September 2024 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approximately 310 employees1 across its offices in the United Kingdom, the United States, Ireland, Denmark, Hong Kong and Japan making it one of the investment management sector's largest investment teams dedicated to sustainable development.
1 Full-time equivalent.
Issued in the UK by Impax Asset Management Group plc, whose shares are quoted on the Alternative Investment Market of the London Stock Exchange. Impax Asset Management Group plc is registered in England & Wales, number 03262305. AUM relates to Impax Asset Management Limited, Impax Asset Management (AIFM) Limited, Impax Asset Management Ireland Limited and Impax Asset Management LLC. Impax Asset Management Limited and Impax Asset Management (AIFM) Limited 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 on www.impaxam.com and links from it should not be relied upon for investment purposes.
Impax is trademark of Impax Asset Management Group Plc. Impax is a registered trademark in the EU, US, Hong Kong and Australia. © Impax Asset Management LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland) Limited. All rights reserved.