Companies and economies around the world continued to feel the effects of the coronavirus-enforced lockdowns during the second half of 2020. Investment Week reports on how they have done since then.
Impax Asset Management
Sustainable investing specialist Impax Asset Management saw £1.8bn of net inflows during the six months to 31 March, its half year results show.
Impax said the inflows were hits highest level on record and stood at £887m in the first half of 2019.
Assets under management were £14.4bn on 31 March 2020, and £15.8bn on 30 April.
Chief executive Ian Simm said: "Over the past six months, Impax's financial performance has been strong, with high levels of net inflows. Despite market volatility arising from the Covid-19 crisis, investor interest in our funds has remained robust as asset owners look for attractive investment returns, resilient portfolios and the prospect of positive environmental and social impact."
He added: "As the global recession triggered by Covid-19 unfolds, there is mounting evidence that future consumer preferences and government regulation will align even more closely with the requirements of sustainable development."
It reported "strong net inflows" into its thematic Listed Equity strategies and robust investment performance across its major strategies. The firm's flagship UK investment trust, Impax Environmental Markets also joined the FTSE 250 index.
Premier Miton
Premier Miton Group saw net outflows of almost £400m in the six months to 31 March 2020, as investors pulled cash from its multi-asset mandates.
The coronavirus crisis wiped as much as 21% off Premier Miton's assets under management, the firm said in its half-year results on Friday (22 May), with that figure standing at £9.1bn on 31 March.
AUM was 25% higher than the same time a year previous, due largely to the November 2019 merger of Premier Asset Management and Miton Group.
The group noted it had seen £389m of outflows from its products in the half-year period, £325m of which had come from its multi-asset funds. Its fixed income mandates saw £180m of outflows, while the equity funds it runs secured inflows of £116m.
CEO Mike O'Shea noted the integration of the two businesses was running "ahead of target", adding: "It has been a period of considerable change and challenge but despite this, we continue to build a scalable platform for growth."
O'Shea continued: "Our people have shown substantial resilience and dedication during the recent Covid-19 pandemic.
"By continuing with clear implementation plans, straightforward communication and the passion of our staff we have delivered our goal of business continuity, notwithstanding the challenging circumstances we are experiencing across the globe.
"As we look forward, the business is well placed to take advantage of the broad range of investment capabilities, collegiate investment culture and the scalable operating platform we now have for the benefit of our clients and stakeholders."
Adjusted pre-tax profits came in at £12.2m, up from £9.3m last year, with cash balances totalling £29.3m, compared to £20.7m in September.
