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Impax AM suffers 8.3% AUM drop amid 'high outflows' following loss of SJP mandate
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In its quarterly AUM update today (9 January), CEO Ian Simm attributed the drop to «relatively high outflows» stemming from the closure of Impax's smaller mandate with St James's Place and redemptions driven by industry consolidation in its institutional channel in Asia-Pacific. The CEO, however, noted that outflow activity slowed down from its largest European distribution partner, BNP Paribas Asset Management, and from its US mutual funds. Impax AM on acquisition trail as AUM steadies Yet the asset manager also highlighted that the impact of the termination of its larger mandate ...
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