AUM increased 3% over Q3 of FY25 (year-end 30 Sep 25) from £25.3bn on 31 Mar 25 to £26.1bn on 30 Jun 25. Investment performance boosted AUM by +£1.0bn or 4% of opening AUM. The Sky Harbor acquisition in the fixed income space closed on 1 Apr 25, adding £1.1bn. Net flows were negative at -£1.3bn, but positive in the month of June, a vast improvement on recent quarters. Impax has said that the improving net flow situation “reflected strong institutional client commitments and fresh momentum in our wholesale channels in Europe.