By Michael Susin
Impax Asset Management Group said that its fourth-quarter assets under management decreased when compared with the last quarter and investment conditions remain challenging.
The U.K. sustainability-focused investment manager said assets under management at Sept. 30 were GBP37.40 billion ($45.77 billion), down 5.8% from the last three-month period ended July 1.
“Investment conditions continued to remain challenging during the final quarter of our financial year, when moderate redemptions from several of our distribution partners compounded market-driven falls in net-asset values,” it added.
However, assets under management increased 4.8% compared with the same period a year ago.
The company added that overall net outflows for the period were of GBP92 million.
Shares at 0732 GMT were down 24.5 pence, or 5.4%, at 429.5 pence.
Write to Michael Susin at [email protected]
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