Impax Asset Management, the AIM-listed sustainable investment specialist, reported assets under management of £22.3 billion at 31 March 2026, an 8% decline over the quarter.
AUM is down 8% over the past quarter but nearly half over the past year. Group AUM as of 31 March 2025 was £39.6 billion.
The drop reflects a challenging period for the sustainability-focused fund manager, which invests across the transition to a more sustainable economy.
“Since January, after a difficult three-year period for investment managers like Impax that focus on actively managed thematic strategies, markets have been considerably more favourable. During the second quarter, 63.4% of our AUM outperformed, notwithstanding the more recent market turbulence,” said Ian Simm, Chief Executive.
“As many asset owners base their investment decisions on historical numbers over at least one year, we were not surprised to see a continuation in net outflows, driven principally by redemptions from a small number of institutional investors. By contrast, net outflows in our wholesale channel were lower and we continue to see an improving trend in flows via our largest distribution partner.”
The CEO also acknowledged that lower AUM would inevitably lead to another year of revenue declines for the group. In the year to 30th September 2025, Impax revenues fell 16% to £141.9m and are expected to soften further again this year to £109m – £113m.
“Following the recent net outflows and these uncertain external tail risk factors, we expect that our revenue for the financial year will be in the region of £109m – £113m. Against this backdrop we are taking further steps to improve our operating efficiency,” Simm said.