Key facts
- Impax Asset Management Group plc's AUM decreased to £20.0 billion on September 30, 2026.
- Net outflows for the quarter totaled £2.39 billion.
- Actively managed listed equities accounted for approximately 75% of the AUM and were the primary source of net outflows.
- The company's management expectations for the financial year remain unchanged.
- Impax offers investment solutions across listed equities, fixed income, and private markets.
Impax Asset Management Group plc reported a decrease in its assets under management (AUM) to £20.0 billion as of September 30, 2026, down from £23.29 billion at the end of the previous quarter. The company attributed the decline primarily to net outflows totaling £2.39 billion, with approximately 75% of these outflows concentrated in its actively managed listed equities strategies.
Chief Executive Ian Simm stated that the net outflows reflect a "lag effect" of clients responding to previous weaker investment performance in some strategies. He noted that these strategies were challenged between 2023 and 2025 by a market dominated by a narrow segment of the technology sector, causing thematic strategies to be out of favor. However, Simm highlighted a significant change in equity markets since the start of 2026, with environmental themes, including energy security, resource efficiency, and electrification, performing more strongly, particularly in the context of AI build-out. Many of Impax's strategies in this area have shown positive performance compared to broad benchmarks and peers since January, which Simm credited to investment process enhancements and refreshed portfolio management teams.
The company also noted a notable improvement in flows within the "sustainability" sector over the past year, expecting its own flows to improve as its performance track record strengthens. Impax's fixed income and systematic equities strategies continue to build strong performance records, and its private markets team is seeking additional capital for investment opportunities across Europe. Management expectations for the current financial year remain unchanged.