Betting On the Energy Transition Has Turned Painful for UK’s Impax
The world’s largest publicly traded fund manager that focuses on sustainability reported its largest-ever outflows in the first half of 2024.
Photographer: Finn Taylor for Bloomberg Markets
For more than 25 years, Impax Asset Management has been betting that an inexorable shift to a cleaner, greener global economy can also deliver strong investment returns.
The wager has paid off well enough to turn Impax into the world’s largest publicly traded fund manager focused on sustainability, with assets under management now totaling about £37 billion ($48 billion). Ian Simm, its chief executive officer and founder, has amassed a net worth of at least £40 million. A glass cabinet at the firm’s London headquarters showcases a clutch of honors for its environmental, social and governance-focused investing.