Impax sees strong rise in assets

IMPAX Asset Management reported strong trading volumes yesterday, saying it expected full year revenue to be well ahead of last year on the back of an increase of 45 per cent in assets under management (AUM).

It said AUM increased to £1.8bn this year compared with £1.2bn a year earlier.

The Aim-listed investment manager added it had raised £131m of new capital through Impax Asian Environmental Markets (IAEM), its investment trust unit, as it released a pre-close trading statement ahead of the publication of its preliminary results for the year ending 30 September 2010.

In October 2009, IAEM raised £104.5m at launch, at that point the largest investment company listing on the London Stock Exchange for 15 months. Meanwhile, in June it added to its UK retail presence by partnering with Skandia to manage its £74m ethical fund, which is now focused on the environmental sector.

In March this year Impax also announced the successful first closeof its second private equity fund, with €141m (£125.1m) of capital. It said yesterday it plans to attract new investors into the fund and expects to announce in the near future that it has raised additional capital.

Ian Simm, chief executive of Impax, said: “Investors who are seeking exposure to high growth sectors are increasingly recognising the attractions of environmental markets and the quality of Impax’s team, our investment process and our track record. I believe that our success reported today demonstrates further the attractions of Impax’s scalable business model and indicates that we are well positioned for continued growth.”