LONDON (ShareCast) - (Sharecast News) - Impax Asset Management reported a 3.1% increase in assets under management (AuM) during its third quarter on Wednesday, reaching £26.13bn as of 30 June.
The AIM-traded sustainable investment specialist said the rise was driven primarily by the completion of its acquisition of the European assets of Sky Harbor Capital Management, which added £1.08bn in fixed income AuM.

It saw net outflows of £1.31bn over the quarter, including £1.2bn from listed equities.

However, market performance and currency movements added £1.03bn, and the Sky Harbor acquisition brought in a further £1.08bn, offsetting the impact of client redemptions.

"I'm pleased to report an increase in assets under management for the third quarter of Impax's financial year," said chief executive Ian Simm.

"Our fixed income platform has been boosted with the addition of £1.1bn of AuM following the completion of the acquisition of the European assets of Sky Harbor Capital Management."

Simm noted that the majority of Impax's strategies had outperformed their benchmarks so far this calendar year.

"In our larger listed equities business, there was a significant reduction in net outflows compared to the previous two quarters, with positive flows in June, reflecting strong institutional client commitments and fresh momentum in our wholesale channels in Europe," he added.

As of 30 June, listed equities made up £23.14bn of total AuM, fixed income stood at £2.36bn, and private markets accounted for £623m.

At 1021 BST, shares in Impax Asset Management Group were up 0.23% at 195.64p.

Reporting by Josh White for Sharecast.com.

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