Impax Asset Management's assets under management rose 11.1% to top £40bn for the first time during the quarter ended 31 December 2021.

The AIM-listed specialist investor reported that its AUM reached £41.4bn, up from £37.2bn at the end of September.

Total AUM in listed equities increased to £39.6bn, boosted by net flows of £1.8bn, while market movement, FX and performance added £2.2bn.

Fixed income saw net flows of £58m, while private markets attracted £167m in net flows.

Impax AUM up 84.4% as it surpasses £37bn

Ian Simm (pictured), chief executive of Impax, said that the firm had delivered "another quarter of strong growth".

"Post the COP26 climate conference, the direction of travel towards a low-carbon economy is much clearer," he added.

"Identifying the corporate winners and losers will, however, continue to require expertise and investment discipline. Against this backdrop, we are confident that Impax's focus on investing in the opportunities arising from this transition will remain attractive to asset owners and their advisers."