(Reuters) – British investment manager Impax Asset Management on Tuesday forecast its full-year profit below market expectations, hurt by a 26% fall in its managed assets as of March-end and the impact of an escalating trade war on global markets.
“Market conditions in the second half of FY25 remain highly uncertain,” said Impax CEO Ian Simm in a statement.
U.S. President Donald Trump’s sweeping tariffs have worried a swathe of markets and economies, with major global markets trading in red at the start of the week.
The wealth manager said its net inflows were also affected after it lost a 5.1 billion pound ($6.5 billion) mandate from St. James’s Place and a small numbber of accounts within its institutional channel closed.
On March 31, 2025, its assets under discretionary and advisory management totalled 25.3 billion pounds, down from the 34.1 billion pounds reported at the end of December.
($1 = 0.7823 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)
