United StatesCollaboration combines Impax’s sustainability expertise with AJO Vista’s quantitative investment research and fundamental factor capabilities
Portsmouth, N.H., 9 September 2026 – Impax Asset Management (“Impax”), a specialist investor focused on the transition to a more sustainable economy, today announced a strategic partnership with AJO Vista | An Emerald Co (“AJO Vista”), a specialist quantitative investment firm, to support the continued development of Impax’s Systematic Equities strategies.
The partnership is intended to enhance Impax’s existing systematic investment process by broadening the information set used in stock selection, portfolio construction and risk management. AJO Vista’s research will add fundamental and market signals alongside Impax’s proprietary sustainability research, helping the team assess how longer-term structural trends interact with shorter- and medium-term drivers of stock performance across different market environments.
As part of the collaboration, AJO Vista will serve as a research adviser to Impax’s Systematic Equities team, contributing to a robust ongoing research approach spanning alpha research, portfolio construction and risk management. The teams will participate in regular research discussions and expect to collaborate on joint research initiatives.
AJO Vista brings more than four decades of quantitative investing heritage. Its roots date to 1984, when Ted Aronson founded AJO, one of the pioneering firms of the quantitative investment era. Today, the firm combines that legacy with senior systematic investment experience, including Jesse Barnes, Gina Moore, and Harin de Silva, who leads research and portfolio management.
Robb Ruhr, Co-Portfolio Manager, Systematic Equities, Impax Asset Management, said: “The transition to a more sustainable economy is a multi-decade investment opportunity, but markets operate across multiple time horizons. By combining our sustainability expertise with AJO Vista’s deep capabilities in quantitative research and factor investing, we believe we can refine how we account for the fundamental factors influencing stocks in the short and medium term while maintaining our long-term sustainability conviction.”
The partnership underscores Impax’s broader investment approach, which combines long-term sustainability insights with fundamental, quantitative and valuation disciplines to assess how structural trends translate into company-level investment outcomes.
As one component of the broader collaboration, Impax will incorporate AJO Vista’s proprietary fundamental quantitative alpha model into its systematic investment process. AJO Vista’s model uses long-proven fundamental inputs to score companies across value, quality, momentum, and sentiment, including signals drawn from text disclosures that capture forward-looking information. Impax’s proprietary sustainability scores assess a company’s business model quality, its exposure to transition risk and the durability of its earnings inputs that operate over a longer horizon than traditional factor signals. Combining the two produces a composite alpha score that evaluates each stock by both its near-term fundamental attractiveness and its long-term sustainability positioning.
Ted Aronson, Managing Partner, AJO Vista, said: “Impax brings decades of expertise in sustainability to create a unique approach to systematic investing. Our philosophies for investment excellence align and our capabilities are highly complementary. We’re excited that AJO Vista’s experience in quantitative research – factor analysis, text-based information extraction, portfolio construction, and risk management – makes for a compelling partnership with Impax. We are eager to work with the Impax team across its broad research agenda as it continues to evolve and grow.”
AJO Vista’s model will be used across Impax’s Systematic Equities portfolios, which include the US Sustainable Economy, International Sustainable Economy, Global Women’s Leadership and Global Systematic Equities strategies. Combined, the strategies have US$3.6 billion in assets under management as of 30 June 2026.
Impax’s Systematic Equities strategies use quantitative and fundamental insights to identify industries and companies that the firm believes are positioned to benefit from long-term sustainability-related trends. The firm’s proprietary Impax Systematic Corporate Resilience Rating further assesses companies’ management and performance on financially material sustainability issues, supporting portfolio investment decisions across its systematic strategies.
The AJO Vista team will advise Impax as the firm explores opportunities to further develop its systematic research and investment capabilities. Impax will retain full investment discretion and responsibility for portfolio management.
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About AJO Vista | An Emerald Co
Founded as AJO in 1984 by Ted Aronson and re-launched as AJO Vista with Gina Moore and Jesse Barnes in 2021; Harin de Silva and the Analytic Investors team became a part of AJO Vista as they combined with Emerald Advisers in 2025. As of June 30, 2026, firmwide assets totaled US $10.5 billion.
AJO Vista focuses on high alpha, often difficult-to-trade strategies across the globe. They specialize in equity strategies with flagship funds in emerging markets, international, and US micro-cap, as well as long-short, low-vol, and client-driven mandates. Their investment approach amplifies alpha, anatomizes beta, and engineers execution through cost and capacity control.
Founded in 1998, Impax is a specialist asset manager, with approximately US$30.9 billion of assets under management as of 30 June 2026 in both listed and private markets strategies, focused on the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax is trademark of Impax Asset Management Group Plc. Impax is a registered trademark in the UK, EU, US, Hong Kong, Canada, Japan and Australia. © Impax Asset Management LLC, Impax Asset Management Limited and/or Impax Asset Management (Ireland) Limited. All rights reserved.