Q3 AUM update

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 third quarter of its financial year.

On 30th June 2024, the Company's AUM totalled £36.9 billion, representing a decrease of 6.8% over the three-month period.

Ian Simm, Chief Executive, commented:

"Aggregate net flows for the quarter to 30 June remained negative and dominated by our wholesale channel, despite a notable easing of outflows from key parts of our European distribution structure. Following a busy period for our direct sales team, our pipeline of potential new business is healthy.

"Today we announced that Impax has entered into agreements to acquire the European assets of SKY Harbor Capital Management LLC, with assets under management ("AUM") of ca. US$2 billion in aggregate. This transaction, together with the expected completion this month of our acquisition of Absalon Capital Management, which has AUM of ca. US$0.5 billion, will greatly enhance our fixed income capability, which we have identified as an area of significant potential for the Company. Post the completion of both acquisitions, Impax will have total pro-forma fixed income assets under management of approximately US$4 billion as of 30 June 2024 and a fixed income team of 20 professionals offering a diversified product range to asset owners who are increasingly demanding credit solutions."

Movements in the Company's AUM for the quarter ended 30 June 2024

1 Full-time equivalent.