Impax revenues jump 56% as green investing case grows

Green investment firm Impax Asset Management saw assets under management jump by 30% in the six months to end of March.

Assets over the six months rose from £1.8 billion to stand at £2.36 billion at the end of March with revenue shooting up 56% to £9.9 million. 

This translated to a jump in profit from £1.67 million to £2.05 million, which includes a £1.5 million exceptional charge relating to a change in the taxation rules applicable to the company’s long term incentive scheme

Impax believes a number of events in the first half combined to underline the relevance of environmentally friendly power sources.

Its chief executive Ian Simm said: 'Developments of the past few months, particularly unrest in the Middle East, damage to the Fukushima nuclear reactors and China’s adoption of a new Five Year Plan, have significantly strengthened the prospects for investors in environmental markets.

'These results provide further evidence that Impax continues to make progress in building out its franchise as a high quality investment manager serving investors who are seeking exposure to these opportunities.Given the attractive valuations of companies active in environmental markets, I am confident that Impax is well positioned to leverage its strong distribution network and attract further funds to manage.'

Impax's fund range includes the Citywire Selection Impax Environmental Markets fund, which is co-managed by Citywire AAA-rated Bruce Jenkyn-Jones and Jon Forster.