High Yield Bond Strategy

Driven by sustainability opportunities and risks.

AUM
US$671m
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

A fossil fuel-free strategy that 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 30/04/2023)
 2023 YTD20222021202020192018
High Yield Bond Composite (gross)4.44-12.083.968.8315.23-2.11
High Yield Bond Composite (net)4.27-12.523.488.3614.65-2.60
ICE BofA Merrill Lynch US High Yield BB-B (Constrained 2%) Index4.43-10.594.586.3215.09-2.04

Past performance does not predict future returns. Figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments can fall as well as rise and you may get back less than you have invested. All data as of 30th April 2023, 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

Impax High Yield Bond Fund

Driven by sustainability opportunities and risks.

View Fund

Portfolio Managers

Peter Schwab, CFA®

Senior Portfolio Manager

Peter joined Impax Asset Management in 2015 and now manages the firm’s high yield bond strategies. He is also a member of the management team for the Impax Sustainable Allocation Fund.

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 helps manage the firm’s 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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