Impax reported outstanding FY17 results and positive start to FY18. Momentum is being driven by organic growth and the proposed combination with US-based Pax World Management LLC, set to complete in Q1 2018. The latter only indirectly affected the FY17 result but is included in our proforma FY18e, and we will update our forecasts, and consider the sensitivities for the enlarged business after the transaction closes. The underlying outlook remains compelling: record 61% growth in assets under management or advice (AUM) in FY17 included c £2.1bn of net inflows and £0.65bn from fund performance. Total year-end AUM was £7.3bn (FY16: £4.5bn), or £10.3bn including Pax.
04 Dec 2017
Delivering a sustainable future
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Delivering a sustainable future
Impax Asset Management Group plc (IPX:LON) | 461 27.7 1.3% | Mkt Cap: 611.3m
- Published:
04 Dec 2017 -
Author:
Roger Leboff -
Pages:
8
Impax reported outstanding FY17 results and positive start to FY18. Momentum is being driven by organic growth and the proposed combination with US-based Pax World Management LLC, set to complete in Q1 2018. The latter only indirectly affected the FY17 result but is included in our proforma FY18e, and we will update our forecasts, and consider the sensitivities for the enlarged business after the transaction closes. The underlying outlook remains compelling: record 61% growth in assets under management or advice (AUM) in FY17 included c £2.1bn of net inflows and £0.65bn from fund performance. Total year-end AUM was £7.3bn (FY16: £4.5bn), or £10.3bn including Pax.