Business
Distribution agreements
Distribution agreements.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2006V\n Impax Asset Management Group plc\n 12 April 2021\n \n \n \n \n Impax Asset Management Group plc\n \n \n \n \n \n Distribution agreements\n \n \n \n \n \n Impax Asset Management Group plc (the \"Company\") is pleased to announce that its subsidiary, Impax Asset Management Limited (\"IAM\"), has entered into a new distribution agreement with Fidante Partners Limited (\"Fidante Partners\"). Going forward, Fidante Partners will be IAM's exclusive distribution partner in Australia and New Zealand.\n \n \n \n \n \n Part of Challenger Limited (ASX:CGF), Fidante Partners focuses particularly on partnering with specialist asset managers and is well-positioned to support Impax's future growth aspirations in both the institutional and wholesale market in Australia and New Zealand. \n \n \n \n \n \n IAM and Fidante Partners will work with the Company's previous distribution partner in Australia, BNP Paribas Asset Management Australia Limited (\"BNPP AM Australia\"), to ensure an orderly transition. As part of this transition, IAM has entered into a new agreement with BNPP AM Australia to manage the share of client fees between Fidante Partners and BNPP AM Australia over the next 12 months.\n \n \n \n \n \n Separately, the Company is pleased to announce a new client mandate that has been introduced by BNP Paribas Asset Management Nederland N.V. (BNPP AM NL) as part of the ongoing distribution agreement between the Company and BNP Paribas Asset Management Holding in a number of international markets. The introductory fee arrangements between BNPP AM NL and the Company are a small variation to those set out in the distribution agreement announced by the Company on 28 October 2020, formalised by an agreement between BNPP AM NL and the Company.\n \n \n \n \n \n BNPP AM Australia and BNPP AM NL are affiliates of BNP Paribas Asset Management Holding (\"BNPP\"). As BNPP is a substantial shareholder of the Company, as defined under the AIM Rules, and BNPP AM Australia and BNPP AM NL are associates of BNPP, as defined under the AIM Rules, the entry into these agreements constitute related party transactions under Rule 13 of the AIM Rules.\n \n \n \n \n \n The independent directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Comp...