We update our forecasts following Impax Asset Management’s 1H26 results. Whilst we leave our topline unchanged, on the back of the Group’s 2Q26 trading update. We reflect the further detail provided on the Group’s cost base in 1H26 as well as its efficiency programme that we expect to run throughout the second half of the year. We had reflected on cost control previously and we believe this was too ambitious and increase our expectations by 1-2%, driving -9% EPS downgrades over the forecast peri ....
