Impax Asset Management Group PLC

LSE:IPX

Performance: Impax said investment performance has “turned the corner,” with 70% of assets under management beating benchmarks year to date at the end of April, a sharp improvement after several weak years.

Flows: Net flows were still negative, and management said they could not yet say when they will turn positive, although they see signs of stabilization.

Costs: The company kept cutting costs and headcount, ending the period with 269 employees, down from 296, and said more redundancies are already announced for the second half.

Guidance: Revenue guidance for the full year was reaffirmed at EUR 109 million to EUR 113 million, with operating margin expected around 47 to 48 basis points.

Dividend: Impax announced an interim dividend of 2p per share, backed by what management described as a strong, debt-free balance sheet.

Strategy: Management highlighted product diversification, including a first U.S. ETF launch, deeper fixed income capability, and further growth in private markets and client partnerships.