Impax Asset Management’s (IPX) shares continued their downward spiral on poorly received interim results, which confirmed that revenue and profits plunged in the first half on a continuing decline in assets under management (AUM).
The beleaguered Aim-traded environmental, social and governance-focused fund manager’s reported revenue was down 23 per cent year on year, while statutory pre-tax profit cratered by 56 per cent despite a 15 per cent reduction in adjusted operating costs.
