We’ve had better luck with Impax Asset Management, whose shares are up 36% since our tip. Boxall says: “It recently informed the market of the amount of money it manages, which rose 6.4 per cent in the first half of the financial year to £37bn, including around £800m of new money in what a bad quarter for the sector. .”
The stock market is recovering and Boxall says asset managers are a “geared play” on the markets – they go up and down in harmony, but movements in both directions are amplified.
“Impax is committed to ESG [environmental, social and governance] to invest. It did seriously from the start; now everyone is playing catch-up,” he says. “The shares seem expensive relative to the industry, but it’s a great company and we’re still holding.”
We hold on to all three stocks.
Questor says wait
Tickers: SPEC, IPX, BREE
Share prices at close: 94p, 750p, 64.7p
Update: Faucetware
This supplier of software to hospitals and other healthcare providers is also having a hard time: the shares, which are usually volatile, have lost 25 percent since last week after a gloomy trading report.
It said it expected revenue growth this year to be impacted by a low contribution from professional services, while higher interest rates would weigh on earnings per share.
We continue to think the company has a strong foothold in a lucrative niche and advise readers to persevere through the current weakness.
Questor says wait
Ticker: CRW
Share price at close: £14.40
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