Impax Asset Management (IPX)

Impax Asset Management IPX Logo

An investment company offering listed and private equity strategies primarily to institutional clients – 6 listed equity strategies: Specialists, Leaders, Water, Asia-Pacific, Global Opportunities, and Food and Agriculture.

6-Dec-2018 – 218p – £284.3m – PER 19.1

Final Results For The 12 Months To End September 2018 – AUM up 72%, Revenue doubled to £65.7m, PBT up 150% to £14.6m and the yield is more than double last year.

First coverage here for me, I will be looking into this more, looks quite interesting – If there’s a downside here for me it’s that I already hold Miton (MGR) and the sector is prone to an outflow of funds should the bear market take a grip.

7-Jan-2019 – 205.5p – £268m – PER 16.2

Q1 Assets Under Management (AUM) Update – AUM down -8% on the quarter.

Outflows to be expected in a downturn, for now I still prefer Miton (MGR).

5-Jun-2019 – 280p – £365m – PER 21.9

Interim Results For The 6 Months To End March 2019 – AUM up 6%, PBT up from £5.5m to £9.3m with Adjusted Diluted EPS down from 4.8p to 4.4p, the Interim Dividend is up from 1.1p to 1.5p.

Impressive as this seems, with outflows to be expected in a downturn, I just can’t get more interested at the moment. Confused at the EPS figures (being down).

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