Q4 AUM update
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Impax, the AIM listed specialist investor focused on the transition to a more sustainable economy, today provides an update on the development of its assets under discretionary and advisory management ("AUM") for the fourth quarter of its financial year.
On 30 September 2023, the Company's AUM totalled £37.4 billion, representing a decrease of 5.8% over the three-month period since 1 July 2023 and an increase of 4.8% over the financial year since 30 September 2022.
Ian Simm, Chief Executive, commented:
"Investment conditions continued to remain challenging during the final quarter of our financial year, when moderate redemptions from several of our distribution partners compounded market-driven falls in net asset values.
"Notwithstanding the sustained market volatility, Impax has continued to show its resilience with an up-tick in our assets under management over the financial year, inclusive of overall net outflows of £92 million. This is testament to our strong relationships with clients, our diversified revenue base and our long-term investment approach, which focuses on companies with robust business models that are well placed to benefit from the transition to a more sustainable economy.
"Although the macro environment is leading some clients to delay deploying their capital, we remain confident in the strength of our pipeline and our ability to convert. Meanwhile, we continue to develop new investment capabilities while enhancing our operating model to ensure that the business is efficient and scalable."
Figure 1: Movements in the Company's AUM for the quarter ended 30 September 2023.
| AUM movement 3 months to 30 September 2023 | Listed equities | Fixed income | Private markets | Total firm |
|---|---|---|---|---|
| £m | £m | £m | £m | |
| Total AUM at 30 June 2023 | 37,920 | 1,258 | 539 | 39,717 |
| Net flows | (910) | (3) | 20 | (893) |
| Market movement, FX and performance | (1,458) | 29 | 5 | (1,424) |
| Total AUM at 30 September 2023 | 35,552 | 1,283 | 564 | 37,399 |
Figure 2: Movements in the Company's AUM for the full year ended 30 September 2023.
| AUM movement FY to 30 September 2022 | Listed equities | Fixed income | Private markets | Total firm |
|---|---|---|---|---|
| £m | £m | £m | £m | |
| Total AUM at 30 September 2022 | 33,801 | 1,354 | 521 | 35,676 |
| Net flows | (144) | 2 | 49 | (92) |
| Market movement, FX and performance | 1,896 | (73) | (6) | 1,816 |
| Total AUM at 30 September 2023 | 35,552 | 1,283 | 564 | 37,399 |
1 Full-time equivalent
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