Impax AM's pre-tax profits more than double despite fossil fuel outperformance

Impax Asset Management's pre-tax profit over six months to the end of March soared from £14.4m to £32.7m compared to the same time period last year, while its adjusted operating profit increased by 64% to £34m.  The firm, which described its financial and business activity during the first half of the financial year as "solid", benefited from net inflows from investors of £2.5bn over six months, following the launch of new products, as well as increased investor demand across most of its existing range. However, these inflows were offset by a £1.7bn fall in assets caused by investment...