Impax AUM slips but insists environment of interest

Impax Group saw slight decreases in its assets under management and net profit, according to interim results to 31 March.

The specialist environmental investment company reported its AUM slipped from £1.09m in September 2008 to £889m at the end of March.

However, it says because of the rally in equity markets, the AUM increased back to £986m by the end of April.

Net profit between September and March, meanwhile, slipped to £1.32m from £1.59m during the same time period last year.

Its turnover, which included £945k of exceptional, non-recurring fees, increased from £4.92m to £5.45m to end March.

Chairman Keith Falconer says: "The prospects for the sectors in which we invest have strengthened considerably in recent months. When inflows resume into equity funds, it is highly likely that there will be increased allocations to the environmental sector."