Impax Asset Management Group
{{Infobox company
| name = Impax Asset Management Group plc
| logo = Logo-impax-grey-md.png
| caption =
| type = Public Company
| traded_as = {{lse|IPX}}
| industry = Investment Management
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| foundation = London, 1998
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| location = London, England, UK
| locations = London, New York, Portsmouth, Portland, Hong Kong
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| key_people =Chair - Sally Bridgeland
Chief Executive - Ian Simm
CFO - Charlie Ridge
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| aum = £37.2 billion (as at 30 September 2024){{cite web |title=Q4 AUM Update |url= https://impaxam.com/insights-and-news/press-releases/q4-aum-update-2/ |website=Impax Asset Management |access-date=7 January 2025}}
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| homepage = {{URL|https://www.impaxam.com}}
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| location_country = United Kingdom
}}
Impax Asset Management Group plc is a specialist asset manager based in London, England.
History
The business was founded in 1998 to invest in companies whose work might reduce resource scarcity, with support from the International Finance Corporation.{{cite web|url=https://www.thetimes.com/business-money/economics/article/impax-environmental-markets-a-sustainable-way-to-make-money-q3cwzk7hc|title=Impax Environmental Markets: A sustainable way to make money|date=19 November 2019|work=The Times|access-date=26 November 2020}} Various commentators have referred to the company's focus on environmental matters.{{cite web|url=https://www.investorschronicle.co.uk/tips-ideas/2019/12/04/impax-s-unprecedented-tailwind/|title=Impax's unprecedented tailwind|date=4 December 2019|publisher=Investors Chronicle|accessdate=23 December 2020}}{{cite book|url=https://books.google.com/books?id=rLLMDwAAQBAJ&pg=PT66|title=Investing To Save The Planet: How Your Money Can Make a Difference|first= Alice |last=Ross|publisher=Penguin|year=2020|isbn=978-0241457238}}{{cite web|url=https://www.ft.com/content/6fad0e1d-ca19-43ec-b561-802b39a76238|title=Impax finance chief sells as group shows little sign of virus ill-effects|publisher=Financial Times|date=17 July 2020|accessdate=27 November 2020}}{{cite web|url=https://www.fnlondon.com/articles/industry-leader-of-the-year-male-ian-simm-impax-asset-management-20201104|title=Industry Leader of the Year: Male – Ian Simm, Impax Asset Management|publisher=Financial News|date=4 November 2020|accessdate=26 November 2020}}
On 18 September 2017, the group plc announced that it had entered into agreements to acquire 100% of Pax World Management LLC. The acquisition was completed on 18 January 2018.{{Cite web |title=Pax World Management Agrees to be Acquired by IMPAX Asset Management Group PLC |date=24 October 2017 |url=https://greenmoney.com/pax-world-management-agrees-to-be-acquired-by-impax-asset-management-group-plc/ |access-date=6 March 2020 |publisher=Green Money}} In December 2018, the company announced that it would be opening an operation in Dublin to serve clients after Brexit (the withdrawal of the United Kingdom from the European Union).{{cite web|url=https://www.ipe.com/asset-management-roundup-impax-joins-the-move-to-dublin/10028523.article|title=Asset management roundup: Impax joins the move to Dublin|date=6 December 2018|publisher=IPE|accessdate=26 November 2020}}
After 23.7% of shareholders voted against the re-appointment of EY as the company's auditor in May 2018,{{cite web|url=https://www.proactiveinvestors.co.uk/companies/news/213612/impax-environmental-markets-to-look-for-a-new-auditor-213612.html|title=Impax Environmental Markets to look for a new auditor|publisher=Proactive Investors|date=30 January 2019|accessdate=26 November 2020}} the company was criticised by the Investment Association, over an apparent lack of independence of EY as its auditor, in December 2018.{{cite web|url=https://www.ipe.com/uk-fund-manager-body-warns-corporate-governance-repeat-offenders/10028469.article|title=UK fund manager body warns corporate governance 'repeat offenders'|date=5 December 2018|publisher=IPE|accessdate=26 November 2020}}
Investments
The company manages environmentally focused equity investments such as renewable energy, water and waste management{{cite news |last=Stankovska |first=Simona |date=2011-09-26 |title=Investment Adviser: Company profile: Impax Asset Management |url=https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&docref=news/13A1ABBB48928CB0&f=basic |newspaper=Investment Adviser |publisher=Financial Times |accessdate=2020-12-14 |archiveurl=https://archive.today/20201214111010/https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&docref=news/13A1ABBB48928CB0&f=basic |archivedate=2020-12-14 |url-status=live }} through various funds including Impax Environmental Markets, which is focused on environmental companies in North America, Europe and Asia was launched in 2002.{{cite web|url=https://www.investorschronicle.co.uk/2012/02/24/shares/news-and-analysis/impax-environmental-markets-iem-oK7uzuNYqRgw3y6Bkf4wDP/article.html|title=Impax Environmental Markets|publisher=Investors Chronicle|accessdate=26 November 2020}} Impax New Energy Investors is a €125 million fund which closed in August 2006{{Cite web |last=23 August 2006 |date=2006-08-23 |title=Impax reaches €125m goal | People & Markets |url=http://www.pfie.com/impax-reaches-%E2%82%AC125m-goal/390808.article |access-date=2017-07-06 |publisher=PFIe}} and Impax New Energy Investors II is a €330 million fund which closed in August 2011.{{Cite web |title=Impax targets wind with $450 million renewables, fund chief says |website=Bloomberg News |url=https://www.bloomberg.com/news/2011-09-27/impax-targets-wind-with-450-million-renewables-fund-chief-says.html |archive-url=https://web.archive.org/web/20140915162559/http://www.bloomberg.com/news/2011-09-27/impax-targets-wind-with-450-million-renewables-fund-chief-says.html |archive-date=2014-09-15 |access-date=2017-03-07}} It also manages listed equity funds on behalf of third parties including BNP Paribas.{{Cite web |title=Best performing funds of 2015: BNP Paribas Aqua Fund |url=https://www.environmental-finance.com/content/analysis/funds-of-2015-bnp-paribas-aqua-fund.html |access-date=6 July 2017 |publisher=Environmental Finance}}
The company had assets under management of £20.2 billion at 30 September 2020.{{cite web|url=https://www.investmentweek.co.uk/news/4021337/impax-aum-jumps-record-gbp-2bn-levels-net-inflows|title=Impax AUM jumps to record £20.2bn on 'high levels of net inflows'|date=7 October 2020|publisher=Investment Week|accessdate=26 November 2020}} However, it remains exposed to the risks that have adversely affected developers in the solar and wind industries.{{cite web|url= https://www.ft.com/content/a2cb34b0-2151-11e8-a895-1ba1f72c2c11|title=Scientist drinks the Kool-Aid before launching green fund house|date=8 March 2018|publisher=Financial Times|accessdate=3 December 2020}} According to the New York Times research by Impax Asset Management Group has found that only one third of investors are sufficiently concerned about climate change to invest in clean energy implying that those investors are clearly failing to realise the risks of not doing so.{{cite web|url=https://www.nytimes.com/2015/12/05/your-money/climate-change-and-choosing-where-to-invest.html|title=Climate Change and Choosing Where to Invest|date=4 December 2015|work=New York Times|accessdate=3 December 2020}} The company has therefore been lobbying the U.S. Securities and Exchange Commission to force companies to disclose the location of their assets so their exposure to environmental risks can be properly evaluated.{{cite web|url=https://www.nytimes.com/2020/07/21/climate/investors-climate-threat-regulators.html|title=Climate Change Poses 'Systemic Threat' to the Economy, Big Investors Warn|date=21 July 2020|work=New York Times|accessdate=3 December 2020}}
The company has made some unusual investments:{{cite web|url=https://www.corporateknights.com/channels/leadership/green-50-15873659/|title=Green 50: Top business moves that helped the planet|work=Corporate Knights |date=20 April 2020|accessdate=23 December 2020|quote=Pioneered investing in environmental solutions and helped bring the idea to scale}} businesses supported by the company have included Royal DSM, a Dutch chemical company which had invented a food additive which reduces the methane released by cows burping.{{cite web|url=https://www.nytimes.com/2019/10/11/business/agriculture-funds-profit-sustainable.html|title=Agriculture Funds Aim to Harvest Profit, Along With Corn and Wheat|date=11 October 2019|work=New York Times|accessdate=3 December 2020}}
References
{{Reflist|30em}}
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Category:Financial services companies of the United Kingdom