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Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Information regarding key risk considerations for this Impax strategy can be viewed here.

AUM
As of 31st December 2023
US$561m
Holdings
277
Launch date
October 2015
Portfolio managers
Peter Schwab
Kent Siefers
Asset class
US High Yield

Overview

A high yield bond strategy leveraging proprietary sustainability tools and research to better identify opportunities and mitigate risks.

Sustainability Lens

Uses the Impax Sustainability Lens to identify higher opportunity and lower risk subsectors of the high yield universe.

ESG

Proprietary ESG research provides additional fundamental insight, which contributes to risk management.

Quality

Focuses on companies with stable profits and manageable debt loads and growing businesses with improving credit profiles.

Discrete performance (%) USD

(As of 31/01/2024)
Past performance does not predict future returns.
 2024 YTD20232022202120202019
High Yield Bond Composite (gross)0.0412.11-12.083.968.8315.23
High Yield Bond Composite (net)11.55-12.523.448.2914.65
ICE BofA Merrill Lynch US High Yield BB-B (Constrained 2%) Index0.0712.55-10.594.586.3215.09

Figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments, and the income derived from them, can fall as well as rise. Investors may get back less than invested. All data as of 31st January 2024, unless otherwise stated. Performance is shown net of ongoing charges and portfolio costs, with net-income reinvested where applicable. Source: FactSet, Bloomberg, WM Reuters.

Data is in USD. Composite figures are presented both gross and net of management fees and include the reinvestment of all income. Impax Asset Management claims compliance with Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Please click here for the GIPS® Disclosure for additional information on the composite.

Investment Vehicles

Green tree aerial view in Washington state

Impax High Yield Bond Fund

A diversified high yield strategy that seeks to invest in issuers that are aligned with the transition to a more sustainable economy.

Portfolio Managers

Peter Schwab, CFA®

Senior Portfolio Manager

Peter joined Impax Asset Management in 2015 and is a co-Portfolio Manager of the High Yield Bond strategy and is also a member of the Multi-Asset Sustainable Allocation team.

Peter started his career in 1996 as an investment associate at Putnam Investments, where he remained for two years, before attending business school. After an internship at Donaldson Lufkin & Jenrette in 1999, Peter joined Goldman Sachs Asset Management where he progressed to the role of Managing Director on the high yield bond and leveraged loan team.

Peter earned a bachelor’s degree in history and economics from Union College, and gained an MBA from Columbia Business School. He is a CFA® charterholder and holds FINRA Series 7 and 63 registrations. Peter is also a member of the New York Society of Security Analysts and a registered representative of Foreside Financial Services

Authored Insights

Kent Siefers

Portfolio Manager

Kent joined Impax Asset Management in 2009 and is a co-Portfolio Manager of the High Yield Bond strategy.

Prior to this, Kent was part of the research team at LKS Capital LLC, where he worked on a multi-strategy hedge fund. He also co-managed a convertible arbitrage hedge fund at EFG International. He started his career in 1996 as a research associate working for investment firms such as Thomas Weisel Partners, BankBoston Robertson Stephens, and Federated Investors.

Kent has a bachelor’s degree in business administration from the University of Vermont. He is a member of the Boston Security Analysts Society.

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Risk Warning

Capital at risk. The value of investments may go up or down and is not guaranteed.

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