Impax Asset Management (LON: IPX) reported a 7% fall in asset under management to £36.9bn in the quarter to June 2024. That is a 1.3% decline over nine months. There was a net outflow of £1.89bn in the quarter and the rest of the decline was negative performance. It appears that some investors are still reducing exposure to equities. The 2023-24 earnings forecast has been cut by 3% to 29.7p/share. Impax Asset Management is acquiring the European fixed income operations of SKY Harbor Capital Management, which covers assets under management of $2bn. The acquisition of Copenhagen-based Absalon Capital Management should be completed soon. The share price declined 9.47% to 377.5p.