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(Sharecast News) - Asset manager Impax said on Tuesday that total assets under management had fallen in Q1 amid "highly uncertain" market conditions.
Impax said its total AUM came to £25.3bn on 31 March, representing a 25.7% decline over the three-month period in what it called "a challenging quarter in terms of net flows", with the company reporting total firm net outflows of £7.78bn.
The AIM-listed group also warned that market conditions in the second half of FY25 were expected to remain highly uncertain, and given the fall in its AUM and the impact on global markets of an escalating trade war, it now anticipates that FY profits will be below market expectations.
As of 0935 BST, Impax shares were down 15.25% at 127.80p.
Reporting by Iain Gilbert at Sharecast.com
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