Q1 AUM update
AUM fell 8.3% to £34.1bn in Q1 2025 due to outflows from St. James's Place and Asia-Pacific institutional redemptions.
- AUM at 31 December 2024 £34.1 billion (prior £37.2 billion)
- AUM decrease over quarter 8.3%
- Net flows £(2,419)m
- Listed equities AUM £32,019m (prior £35,021m)
- Fixed income AUM £1,488m (prior £1,478m)
- Private Markets AUM £601m (prior £689m)
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On 31 December 2024, the Company's AUM totalled £34.1 billion, representing a decrease of 8.3% over the three-month period.
Ian Simm, Chief Executive, commented:
"This quarter we saw relatively high outflows, notably the closure of our smaller mandate with St. James's Place and redemptions driven by industry consolidation in our institutional channel in the Asia-Pacific region. More positively, we have continued to see a slow-down in outflows from our largest European distribution partner, BNP Paribas Asset Management, and from our US mutual funds.
"As previously announced, we expect the impact of the termination of the larger mandate with St. James's Place to take effect in February 2025.[1]
"Looking ahead, we believe that Impax's focus on the transition to a more sustainable economy positions us well for investment outperformance. In executing our growth strategy, we intend to further diversify the business by asset class, investment product and distribution channel. In this context, we expect to close shortly the purchase of the European assets of SKY Harbor Capital Management, which will significantly expand our fixed income offering.
"In parallel, we continue to pay close attention to the efficiency of the business and the management of costs in the context of providing an excellent service to clients."
Figure 1. Movements in the Company's AUM for the quarter ended 31 December 2024
| Listed equities | Fixed income | Private Markets | Total firm | |
|---|---|---|---|---|
| £m | £m | £m | £m | |
| Total AUM at 30 September 2024 | 35,021 | 1,478 | 689 | 37,187 |
| Net flows | (2,297) | (38) | (83) | (2,419) |
| Performance, market movement, and FX | (705) | 49 | (4) | (660) |
| Total AUM at 31 December 2024 | 32,019 | 1,488 | 601 | 34,108 |
[1] This mandate has assets under management of £5.0bn as at 31 December 2024.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.