Ethical investment house Impax said its profits more than doubled on the back of growing interest in sustainable investing in America and Europe.
The company saw its assets under management (AUM) grow by 72 per cent for the year to September 30.
It reported AUM of £12.5bn, with net inflows of £1.46bn aided by the company winning a mandate from St James’s Place and a fund launch in the US, as well as assets acquired when it bought Pax Global, a rival ethical manager.
Impax achieved a profit of £20m for the year, 114 per cent higher than the previous year.
Ian Simm, chief executive of Impax said: "2018 has been a particularly exciting year for Impax. The company has grown considerably, establishing Impax as one of the largest global investment managers focused on investing in the transition to a more sustainable economy.
"Positive net inflows have underpinned our expansion as asset owners around the world increasingly seek investment exposure to Impax’s area of expertise.
"This momentum opens up new opportunities that we are ideally positioned to benefit from. The solid foundations we’ve laid down over the last 20 years should support significant further growth for the company."
david.thorpe@ft.com
