Impax CEO Says Worst Is Over After Clients Pull $14 Billion
The chief executive officer of Impax Asset Management Group Plc said the pool of money it oversees is unlikely to shrink further, as the firm tries to right itself after a series of client redemptions.
In the six months ended March 31, Impax saw net outflows of more than £10 billion, or roughly $14 billion, according to its latest half-year report. Of that, £6.2 billion was pulled by St. James's Place Plc. In all, assets under management have dropped by roughly a third since a 2023 peak, to just over £25 billion.
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