Impax Asset Mgmt: Equity Development
has received notice from St. James's Place Unit Trust Group Limited that its mandate to manage the Sustainable & Responsible Equity Fund (SRE) is to be terminated from February 2025, subject to EGM. This is a blow to top-line AUM, with SRE making up c. £5.2bn (30 Nov24) or c. 14% of total AUM of £37.2bn (30 Sep 24). Impax has stated that the termination was“driven by SJP seeking to further diversify the fund across investment styles”.
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