UPDATE 1-Impax sees FY profit ahead of mkt view
* Sees FY revenue in-line with market view
* AUM up 45 pct to 1.8 bln stg
* Shares up 7 pct
Oct 25 (Reuters) - Impax Asset Management Group (IPX.L) on Monday said it expects its full-year profit to beat market estimates as more investors put their money into the environmental markets. The environmental investment manager, whose overall trading continues to be strong, said it expects revenue for the fiscal 2010 ended Sept. 30 to rise from the year ago and come in line with market expectations.
During the year, assets under management and advisory (AUM) increased 45 percent to 1.82 billion pounds.
"The company is confident of securing further inflows into funds and accounts that it manages or advises," it said in a statement.
Impax also said it had incorporated a subsidiary company in Hong Kong in order to support its growing Asian operations.
Impax shares, which have gained 29 percent since the beginning of the year, were up 7.2 percent at 59 pence at 0709 GMT on Monday on the London Stock Exchange. (Reporting by Juhi Arora in Bangalore; Editing by Aradhana Aravindan)
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