Impax Asset Management Group Plc

AUM closed FY26 (1 Oct 25 - 30 Sep 26) on £20.0bn, below our previous forecast of £22.8bn. Q4 saw relatively heavy outflows of £2.4bn with markets responsible for a £0.9bn decline in AUM.

Impax has, however, stressed that since the start of 2026, some environmental themes have performed more positively versus benchmarks and peers. Management financial expectations for FY26 are unchanged and positive net flows are expected in FY27, although our forecasts are reduced in FY27 due to the lower starting-AUM level. 

It has cited notable investor interest in energy security, resource efficiency, and electrification. The group is particularly bullish on its US business, fixed income, and its BNP Paribas business (Impax’s largest distribution partner).

Some positive signs for sustainable investing flows back up management’s positivity for FY27. We maintain our expectation that Impax will return to robust long-term growth and it operates in a huge sustainable investing market which topped $3.7 trillion at the end of June.

Our DCF valuation / share falls from 250p to 220p, reflecting lower forecasts after the dip in Q4 AUM and a higher discount rate due to a jump in gilt yields. Yet this remains more than twice the current share price.

Equity Development - Impax AM - weak flows in Q4’26 but positive outlook for FY27

AUM fell 8% in Q2-26 (Jan 26 - Mar 26) from £24.2bn to £22.3bn. Investment performance was positive at +£0.1bn but net outflows totalled -£2.0bn.

Impax AM: Research

Celebrus Technologies PLC

Craneware Plc

Senior Plc

Solid State

Speedy Hire Plc

Van Elle Holdings

In this week’s live smallcap show, UK equity analyst & markets commentator Paul Scott & I discussed our latest thoughts on 15 stock ideas.

2 P’s on a Pod: M&A Premiums, Short Activity & Trends in UK Small Caps

AUM increased 3% over Q3 of FY25 (year-end 30 Sep 25) from £25.3bn on 31 Mar 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 vast improvement on recent quarters. Impax has said that the improving net flow situation “reflected strong institutional client commitments and f

Impax Asset Management: Equity Development

Analysts at Berenberg lowered their target price on asset manager Impax from 440.0p to 330.0p on Tuesday as it said the group was now "navigating an uncertain market backdrop".

Berenberg lowers target price on Impax Asset Management

Impax has received notice from St. James's Place Unit Trust Group Limited that its mandate to manage the Sustainable & Responsible Equity Fund (SRE) is to be terminated from February 2025, subject to EGM. This is a blow to top-line AUM, with SRE making up c. £5.2bn (30 Nov24) or c. 14% of total AUM of £37.2bn (30 Sep 24). Impax has stated that the termination was“driven by SJP seeking to further diversify the fund across investment styles”.

Impax Asset Mgmt: Equity Development

Analysts at Berenberg lowered their target price on Impax Asset Management from 560.0p to 510.0p on Friday after news broke that the group's mandate to manage St James's Place's sustainable and responsible equity fund was expected to end in February 2025.

Analysts at Berenberg lowered their target price on Impax Asset Management from 620.0p to 560.0p on Tuesday but noted that outflows had started to slow.

AUM closed FY24 (1 Oct 23 - 30 Sep 24) on £37.2bn, 0.6% down y-o-y. Net outflows over FY24 totalled £5.8bn, largely offset by a positive investment performance of +£5.3bn and a contribution of +£0.3bn from the acquisition of Absalon Capital Management in Q4.

Feedback Plc

Personal Group Holdings

Quadrise Fuels International Plc

Sareum Holdings Plc

UK Oil & Gas Plc

A round up of today's small cap news from broker Hybridan

Hybridan Small Cap Feast: 10/07/24

AUM declined over Q3 of FY24 (year-end 30 Sep 24) from £39.6bn on 31 Mar 24 to £36.9bn on 30 Jun 24, a fall of 6.8%. That offsets a 5.9% increase over H1, resulting in AUM being down 1.3% over the first 9 months of FY24. Net flows and market movements/investment performance were negative in the quarter, -£1.89bn and -£0.81bn respectively.

AUM was up by £2.2bn or 6% over H1-24, reaching £39.6bn on 31 Mar 24 (30 Sep 23: £37.4bn). This was a top-third growth rate among a London-listed peer group

RNS Number: 5561 H Impax Asset Management Group plc 25 November 2022 RNS Reach. Impax Asset Management Group plc. Investor Presentation of Full Year Results.

Impax Asset Mgmnt - investor Presentation of Full Year Results

RNS Number: 0003 M Impax Asset Management Group plc 25 April 2018 Impax Asset Management Group plc. Date of Interim Results Announcement. Impax Asset Management Group plc today announces that it expects to announce its interim results for the six month period ended 31 March 2018 on Thursday 7 th June 2018..

Impax Asset Mngmnt - Notice of Results

RNS Number: 8442 L Impax Asset Management Group plc 23 April 2018 TR-1: S tandard form for notification of major holdings.

Impax Asset Mngmnt - Holding(s) in Company

RNS Number: 7652 L Impax Asset Management Group plc 23 April 2018 TR-1: S tandard form for notification of major holdings.

RNS Number: 0929 L Impax Asset Management Group plc 16 April 2018 16 April 2018. Impax Asset Management Group plc. Impax Asset Management Group plc was informed on 16 April 2018 that Ian Simm has been gifted 8,600 ordinary shares in the Company for nil consideration by his wife, Helen Dell, and has invested 8,572 Ordinary Shares into his ISA.

Impax Asset Mngmnt - Director/PDMR Shareholding

The purpose of the SIP is to provide UK employees with the opportunity to acquire ordinary shares of 1 pence each in the Company in a tax-effective way and to thereby further align interests of employees with the Company.. Employees may authorise deductions of up to £150 per month or make periodic lump sum contributions. The total deductions cannot exceed...

Impax Asset Mngmnt - Share Incentive Plan

London, 10 April 2018- Impax Asset Management Group plc, the AIM quoted investment manager, today provides an update of the development of its assets under discretionary and advisory management for the second quarter of its financial year.. On 31 March 2018, the Company's AUM totalled £11.0 billion.  "Despite the return of higher equity market volatility, I'm...

Impax Asset Mngmnt - AUM update

RNS Number: 1525 J Impax Asset Management Group plc 27 March 2018 27 March 2018. Impax Asset Management Group plc. Impax Asset Management Group plc was informed on 27 March 2018 that Helen Dell, wife and person closely associated of Ian Simm sold 8,955 Ordinary Shares of the Company from her share account, and bought 8,928 Ordinary Shares of the Company via her ISA...

Impax Asset Management Group Plc

Latest Coverage

Equity Development - Impax AM - weak flows in Q4’26 but positive outlook for FY27

Impax AM: Research

2 P’s on a Pod: M&A Premiums, Short Activity & Trends in UK Small Caps

Impax Asset Management: Equity Development

Overview

Company Profile

Classification