Morning Everyone,
Thank for the requests – as usual, I prioritise stocks which appear in the comments, while also keeping an eye out myself for new ideas! Paul will be back tomorrow.
Cheers,
Graham
Impax Asset Management (LON:IPX)
Share price: 161.5p (-3%)No. of shares: 128 millionMarket cap: £206 millionFinal Results
This is an environmentally-focused asset manager which I’ve written about several times this year.
Unfortunately, I didn’t have the spare funds to invest in it earlier this year, when it seemed quite cheap against its earnings and prospects.
The value proposition is different now that the share price has trebled in a year:
So today’s slight dip in the share price is in the context of a company where great things have arguably already been priced in.
The results are excellent, as expected. In the year to September, AuM increased by over 60% (we already knew this thanks to the Q4 update:
Assets under management and advice (“AUM”) increased 61% to a new peak of £7.3 billion (2016: £4.5 billion), rising further to £7.6 billion by 31 October 2017
Record net inflows of £2.1 billion across several strategies and geographies
So…
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