Impax AM cuts 10% of staff as AUM falls by £6bn

16% drop in AUM

Impax Asset Management has cut more than 30 roles in what it called its "efficiency programme" to reduce costs amid falling assets under management.

On 28 February, Impax's AUM totalled £28.5bn. This compared to £34.1bn on 31 December 2024, a drop of more than 16%. The fall in AUM was driven primarily by the loss of the St James's Place Sustainable & Responsible Equity fund mandate, which represented around £5.1bn (8%) of Impax's annualised revenue as at the end of January. Ahead of its annual general meeting today (5 March), Impax's chief executive, Ian Simm, said: "In light of the contraction of our assets under management, we have accelerated our efficiency programme." Impax AM suffers 8.3% AUM drop amid 'high outflows' foll...