Impax Asset Management Group (AIM:IPX) shares jumped 16.4% to 110.6p, after the AIM-listed specialist investor reported assets under management (AUM) of £23.3 billion at 30 June, up 4.4% over the three months to the end of its financial third quarter.
It said net flows remained a drag, with an exit tender at Impax Environmental Markets accounting for 43% of the quarter's net outflows.
Performance, market movement and foreign exchange drove the quarterly increase, with the company noting strong returns across its thematic equities, systematic equities and fixed income strategies since the start of the calendar year, most of which outperformed their relevant benchmarks.
Net flows remained a drag, though the company said the picture is improving when stripped of a one-off distortion: an exit tender process at Impax Environmental Markets accounted for 43% of total net outflows in the quarter.
Chief Executive Ian Simm said flows via the company's largest distribution partner are improving, pointing to "increased interest" in its thematic equities range.
Systematic equities funds in the United States attracted net inflows during the period, and Impax said it intends to respond to equivalent demand in Europe by launching its first UCITS product in that strategy later this year.
