Impax AUM slips but insists environment of interest

The specialist environmental investment company reported its AUM slipped from £1.09m in September 2008 to £889m at the end of March. However, it says because of the rally in equity markets, the AUM increased back to £986m by the end of April. Net profit between September and March, meanwhile, slipped to £1.32m from £1.59m during the same time period last year. Its turnover, which included £945k of exceptional, non-recurring fees, increased from £4.92m to £5.45m to end March. Chairman Keith Falconer says: "The prospects for the sectors in which we invest have strengthened considerabl...