Im­pax As­set Man­age­ment In­vest­ing in the tran­si­tion to a more sus­tain­able econ­omy



Im­pax As­set Man­age­ment’s

(IPX) in­vest­ment phi­los­o­phy is based on the premise that cap­i­tal mar­kets will be shaped pro­foundly by global sus­tain­abil­ity chal­lenges. These pow­er­ful driv­ers of global growth in­clude cli­mate change, pol­lu­tion and es­sen­tial in­vest­ments in hu­man cap­i­tal, in­fra­struc­ture and re­source ef­fi­ciency.

Im­pax is a holder of a Queen’s Award for En­ter­prise: Sus­tain­able De­vel­op­ment, and has been awarded nu­mer­ous other pres­ti­gious in­vest­ment in­dus­try ac­co­lades for in­no­va­tion, thought lead­er­ship and fund per­for­mance.


With a scal­able busi­ness model, Im­pax’s strong growth in as­sets un­der man­age­ment (AUM) in re­cent years has driven sig­nif­i­cant en­hance­ment in the Com­pany’s fi­nan­cial per­for­mance.

In 2017, Im­pax saw its strong­est growth since in­cep­tion. AUM in­creased 61% fol­low­ing record in­flows from new and ex­ist­ing clients, par­tic­u­larly from in­vestors in North Amer­ica and Con­ti­nen­tal Europe. Im­pax also re­ported ex­cel­lent progress against all its key per­for­mance in­di­ca­tors, in­clud­ing in­creases in prof­itabil­ity and earn­ings per share.

The com­pany is com­mit­ted to a pro­gres­sive div­i­dend pol­icy as a demon­stra­tion of its com­mit­ment to in­creas­ing share­holder value and has grown the div­i­dend ev­ery year since 2008.


Im­pax was one of the first in­vest­ment man­agers to iden­tify the com­pelling op­por­tu­ni­ties aris­ing from the tran­si­tion to a more sus­tain­able econ­omy. Back in the late 1990s, en­vi­ron­men­tal mar­kets were rel­a­tively small and of­ten rep­re­sented quite risky in­vest­ments. Two decades later, Im­pax’s in­vest­ment ex­per­tise is yield­ing in­sights across large swathes of pri­vate sec­tor ac­tiv­ity.

The com­pany’s long track record and large, ex­pe­ri­enced in­vest­ment team have proved very at­trac­tive for as­set own­ers seek­ing to gain ex­po­sure to these mar­kets - which in­clude com­pa­nies that are help­ing to solve the world’s en­vi­ron­men­tal chal­lenges through their

prod­ucts and ser­vices.

The com­pany of­fers its clients around the world a broad range of funds span­ning eq­ui­ties, bonds and pri­vate eq­uity. By De­cem­ber 2017 all Im­pax’s ma­jor listed eq­uity strate­gies out-per­formed the MSCI All Coun­try World In­dex bench­mark over one, three and five years.

In the UK Im­pax is per­haps best known as the man­ager of Im­pax En­vi­ron­men­tal

Mar­kets (IEM). This was the first en­vi­ron­men­tal in­vest­ment trust at launch in 2002. Six­teen years on it has de­liv­ered strong re­turns for in­vestors and grown to over £500m of to­tal net as­sets.

The com­pany also man­ages one of the largest wa­ter funds, a sus­tain­able food and agri­cul­ture fund and a ‘women’s’ fund that in­vests in the high­est-rated com­pa­nies in the world for ad­vanc­ing women’s lead­er­ship.

Im­pax en­gages with the man­age­ment of its in­vestee com­pa­nies and re­ports on stew­ard­ship ac­tiv­i­ties to clients. Where possible, Im­pax also mea­sures and re­ports on non-fi­nan­cial met­rics in ad­di­tion to in­vest­ment per­for­mance. This re­port­ing en­ables clients to un­der­stand the pos­i­tive en­vi­ron­men­tal im­pact of their in­vest­ments and their alignment with the United Na­tion’s Sus­tain­able De­vel­op­ment Goals. RE­CENT US EX­PAN­SION In Jan­uary 2018 Im­pax ac­quired Pax World Man­age­ment LLC (Pax), a spe­cial­ist US in­vest­ment man­ager with busi­ness val­ues and ob­jec­tives that are very closely aligned with those of Im­pax. In­te­gra­tion of the com­pa­nies is de­signed to

pre­serve and en­hance client ser­vice.

Im­pax and Pax have strong shared busi­ness cul­tures and formed a part­ner­ship in 2007 to launch and man­age the Pax Global En­vi­ron­men­tal

Mar­kets Fund (GEM). As a re­sult of the suc­cess­ful longterm col­lab­o­ra­tion be­tween the two com­pa­nies, to­day GEM has AUM in ex­cess of $600m.

This ac­qui­si­tion gives Im­pax a sig­nif­i­cantly ex­panded foot­print in the US and will en­able the com­pany to of­fer clients a broader range of in­vest­ment strate­gies. It is an ex­cit­ing new chap­ter in a decade-long part­ner­ship and the ac­qui­si­tion is ex­pected to make a sig­nif­i­cant earn­ings con­tri­bu­tion to the busi­ness from 2018. PROSPECTS FOR CON­TIN­U­ING GROWTH Im­pax sees in­ten­si­fy­ing in­ter­est in its funds from as­set own­ers seek­ing ex­po­sure to the rapidly grow­ing mar­kets in which the com­pany in­vests. There is strong de­mand for spe­cial­ist in­vest­ment man­agers of­fer­ing clearly dif­fer­en­ti­ated prod­ucts and ser­vices and Im­pax is well placed to de­liver long term growth in this en­vi­ron­ment.

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