Update on assets under management
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London, 22 October 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 a portion of the St. James's Place Global Quality Unit Trust (the "GQT"), a multi-manager fund that is subject to asset allocation decisions by SJP (the "Mandate"). The termination is expected to take effect in early November.
The Mandate is the smaller of the two mandates that Impax has with SJP and, with £774 million of assets under management ("AUM"),[1] represents around 13% of the total AUM that Impax manages on behalf of SJP. The impact on Impax's annualized revenue is expected to be very modest.
Impax continues to manage the much larger portfolio, the Sustainable & Responsible Equity Fund, on a sole basis on behalf of SJP. St. James's Place concluded that the Sustainable & Responsible Equity Fund "delivered value overall" to clients in its recently published Annual Value Assessment statement.
1 Full-time equivalent
[1] As of 30 June 2024
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