Mandate loss | Korean woes | AI investment
News covered here includes our assessment of results from a large AIM company making some big investments to develop its AI capabilities. Elsewhere, a specialist fund manager has lost a big investment mandate. The share price sell-off looks overdone, but could it be at risk of other losses ? The Chief Exec of a group of homeware brands remains selectively positive, despite another profit warning. Read on here for our assessment on this and other news.
Impax Asset Management: shares sink on loss of mandate Impax Asset Management (AIM:IPX), the specialist investor focused on the transition to a more sustainable global economy, has received a notice from St. James's Place (‘SJP’) for termination of Impax's mandate to manage SJP’s Sustainable & Responsible Equity Fund. The termination is expected to take effect in February 2025. This is the only mandate that Impax has left with SJP, but at c.£5.2bn of Impax’s assets under management ("AUM") at 30 November 2024 it represents approximately 13% of Impax’s AUM of £37.2 billion at 30 September 2024. The impact on Impax's…