An impressive first half saw total assets under discretionary and advisory management (AUM) hit a new £5.7bn peak at end March 2017. As that’s already above our existing full-year target with six months still to go, we have upgraded FY17e AUM to £6.0bn and £6.8bn by end FY18. We still see those as relatively conservative vs 27% first half growth i.e. c 5% net new inflows in H2, c 2% from investment performance, and reductions in scale of the group’s older private equity funds as they exit investments. We assume limited contribution from the latest PE renewable infrastructure fund in its initial funding phase, but anticipate another upgrade later in the year as fund raising is completed.
11 Apr 2017
Upgrades post strong Q2 AUM growth
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Upgrades post strong Q2 AUM growth
Impax Asset Management Group plc (IPX:LON) | 458 -27.5 (-1.3%) | Mkt Cap: 607.6m
- Published:
11 Apr 2017 -
Author:
Roger Leboff -
Pages:
4
An impressive first half saw total assets under discretionary and advisory management (AUM) hit a new £5.7bn peak at end March 2017. As that’s already above our existing full-year target with six months still to go, we have upgraded FY17e AUM to £6.0bn and £6.8bn by end FY18. We still see those as relatively conservative vs 27% first half growth i.e. c 5% net new inflows in H2, c 2% from investment performance, and reductions in scale of the group’s older private equity funds as they exit investments. We assume limited contribution from the latest PE renewable infrastructure fund in its initial funding phase, but anticipate another upgrade later in the year as fund raising is completed.