Update on assets under management
SJP terminated Impax's mandate to manage Sustainable & Responsible Equity Fund worth £5.2bn AUM.
- AUM under terminated mandate £5.2bn
- Annualized revenue impact £12.7m
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London, 13 December 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 the Sustainable & Responsible Equity Fund (the "SRE"), (the "Mandate"). The termination is expected to take effect in February 2025 subject to approval by the SRE unitholders at an Extraordinary General Meeting on 9 January 2025.
The Mandate is the only mandate that Impax has with SJP and totalled c.£5.2bn of assets under management ("AUM"), as at 30 November 2024. The impact on Impax's revenue is expected to be circa £12.7m on an annualized basis.
The termination of the Mandate has been driven by SJP seeking to further diversify the fund across investment styles.
1 Full-time equivalent.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.