A new mandate from a US institutional investor boosted UK-based Impax Asset Management’s quarterly numbers.

The firm, which focuses on environmental markets, enjoyed £272m in net inflows in the three months to March.

65% of that was down to a new ‘segregated mandate account’ from an unnamed investor in the US.

In September last year, Impax reported “unprecedented investor interest” in resource efficiency and environmental markets from both institutional and wholesale channels.

It also noted that some 450 major institutions holding investments valued at US$2.6trn had committed to divest their coal, oil and gas holdings.  

Impax, which has funds focused on climate change and energy efficiency markets, uses BNP Paribas as its third party distributor in Europe and Pax World in the US.

“Impax has had a strong quarter with positive net inflows and creditable investment performance,” chief executive Ian Simm said on Friday. 

“Investor interest in our capabilities and investment products remains high and we have a healthy pipeline of potential new inflows.”

At the end of March, assets under management stood at £3.56bn, 16% higher than the start of January and 26% more than AuM at the start of Impax's current financial year in October.