Results from Impax Asset Management beat expectations
Impax Asset Management (IPX:AIM) 166.5p
Gains to date 31.5%
Original entry point: Buy at 126.6p 21 September
Fund provider Impax Asset Management (IPX:AIM) has been having a great year, as reflected in a soaring share price.
First it struck a deal to buy Pax World Management which is expected to complete in the first quarter of 2018. That will expand its fund range in both the equities and fixed income space.
Then full year results on 29 November (which exclude any contribution from Pax) beat expectations with 6.24p earnings per share versus 5.1p forecast by broker Peel Hunt. Its assets under management increased by 61% over the year to £7.3bn, again beating Peel Hunt’s forecast of £6.8bn.