Impax: St James's Place loss causes assets to drop by a quarter

The renaissance of St. James’s Place?

What a difference a year makes. This time in 2024, St. James’s Place, Britain’s biggest wealth manager, had slashed its dividend in half, posted its first loss in 10 years and announced it had set aside £426 million to compensate clients for advice they didn’t actually receive. As a result, its share price had tanked, with the Gloucestershire-based firm staring down the barrel of being relegated from the FTSE 100 index of the UK’s biggest compan…

AIM movers: Maiden dividend from Thor Explorations and Impax assets under management dives

Minoan Group (LON: MIN) shares recovered following the slump on Friday after it said that it does not have enough cash to complete the audit of its accounts to October 2024 and that would mean trading in the shares would be suspended on 1 May. The suspension could happen earlier because of the lack of […] The post AIM movers: Maiden dividend from Thor Explorations and Impax assets under management dives appeared first on UK Investor Magazine.

Impax: St James's Place loss causes assets to drop by a quarter

Impax Asset Management has reported a 26 per cent decline in assets under management after losing a £5.1bn mandate from St James’s Place. The £8.8bn drop over the last three months was in large part due to the mandate loss, along with a series of account closures in the firm’s institutional channel, Impax said. This drop came after a further 8.3 per cent fall in assets at the end of last year, after Impax lost the other mandate it managed for St…