AUM
$797,743,947
Holdings
425
Launch Date
Launch Date (Institutional)
October 1993
April 2006
Portfolio Managers
Scott LaBreche
Christine Cappabianca
Morningstar Low Carbon Designation™
Low Carbon logo
Global Equity Large Cap as of 07/31/23.
Based on 99% of AUM.

Overview

A systematic, global large cap strategy that seeks to invest in companies that advance gender diversity and equity.

Invest in Women

The strategy is the first broadly diversified mutual fund that invests in the highest-rated companies in the world for advancing women through gender-diverse boards, senior leadership teams and other policies and practices.

Diversity Advantage

Research indicates that companies with more women in leadership have higher returns on capital, greater innovation, increased productivity and higher employee retention and satisfaction.

Impact & ESG

The strategy invests in companies that value women’s leadership and advances gender equality through engagement and advocacy. Additionally, the strategy meets key ESG standards and is fossil fuel free.

Monthly Total Returns

(As of 08/31/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Reorganization1
Impax Ellevate Global Women’s Leadership Fund – Investor Class-2.523.739.7810.604.155.358.066.62
Impax Ellevate Global Women’s Leadership Fund – Institutional Class-2.533.759.9210.844.405.608.336.88
Impax Global Women’s Leadership (Net) Index-2.335.3716.6115.396.437.167.85
MSCI World (Net) Index-2.396.9916.1115.608.418.339.288.07
Lipper Global Multi-Cap Core Funds Index-2.905.9511.9912.447.136.257.766.61

Quarterly Total Returns

(As of 06/30/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Reorganization1
Impax Ellevate Global Women’s Leadership Fund – Investor Class4.443.6510.5313.357.736.508.416.83
Impax Ellevate Global Women’s Leadership Fund – Institutional Class4.423.7110.6213.648.006.768.687.09
Impax Global Women’s Leadership (Net) Index5.847.4917.1319.529.978.328.06
MSCI World (Net) Index6.056.8315.0918.5112.189.079.508.12
Lipper Global Multi-Cap Core Funds Index5.714.9711.7515.0510.676.998.006.71

10 year performance data pre-dates fund reorganization.

Performance data quoted represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Risk Statistics

(As of 08/31/2023)
 3 – Year
3 – Year
Standard Deviation 17.35
Alpha -0.33
Beta 0.99
R-Squared 98
Standard Deviation 17.38
Alpha -0.31
Beta 0.99
R-Squared 98

Morningstar Ratings

(As of 08/31/2023)
 Global Large-Stock BlendOverall3yrs5yrs10yrs
Impax Ellevate Global Women’s Leadership Fund – Investor Class Rating ★★★ ★★ ★★ ★★★
Impax Ellevate Global Women’s Leadership Fund – Institutional Class Rating ★★★ ★★ ★★ ★★★
  # In Peer Group 341 341 291 191
Based on risk adjusted returns.

Lipper Rankings

(As of 08/31/2023)
 Global Multi-Cap Core1yr3yrs5yrs10yrs
Impax Ellevate Global Women’s Leadership Fund – Investor Class Percentile Rank 72 80 85 64
  Prime Rank 83 77 72 30
  # In Peer Group 116 97 85 47
Impax Ellevate Global Women’s Leadership Fund – Institutional Class Percentile Rank 68 78 71 56
  Prime Rank 78 75 60 26
  # In Peer Group 116 97 85 47
Based on total returns.

Net Asset Values

(As of 10/02/2023)
 N.A.V.% Change
Impax Ellevate Global Women’s Leadership Fund – Institutional Class $28.10 -0.67
Impax Ellevate Global Women’s Leadership Fund – Investor Class $27.89 -0.68
Past performance does not guarantee future results.

Asset Allocation

(As of 08/31/2023)

Portfolio Statistics

(As of 08/31/2023)
  Value
Value
Assets (all share classes) 797,743,947
Number of Holdings (All) 425
Turnover Ratio (12/31/2022)§ 45

Regions

(As of 08/31/2023)

Country Allocation

(As of 08/31/2023)
 Portfolio %
Portfolio %
United States 65.80
United Kingdom 9.40
France 5.60
Norway 4.50
Germany 2.20
Canada 2.00
Australia 2.00
Sweden 2.00
Netherlands 1.70
Switzerland 1.30
Denmark 1.20
Spain 0.60
Italy 0.50
Hong Kong 0.20
Finland 0.10
New Zealand 0.10
Singapore 0.10
Israel 0.10
Belgium 0.10
Portugal 0.10

Top Sectors

(As of 08/31/2023)

Top Ten Holdings

(As of 08/31/2023)

Impax Gender Analytics Team

Julie Gorte Ph.D., Senior Vice President for Sustainable Investing, and Heather Smith, Lead Sustainability Research Analyst, lead the team that rates and ranks companies to construct the Impax Global Women’s Leadership Index.

Portfolio Management Team

Scott LaBreche

Portfolio Manager

Scott LaBreche is Portfolio Manager & VP, Portfolio Analytics, at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Impax Funds.

Scott is a Portfolio Manager of the Global Women’s Leadership Strategy, which includes the Impax Ellevate Global Women’s Leadership Fund. He is also a Portfolio Manager of the Impax International Sustainable Economy Fund, the Impax Global Sustainable Infrastructure Fund and the Impax U.S. Sustainable Economy Fund. He is responsible for portfolio management of systematic strategies, portfolio analytics and risk oversight, and quantitative ESG research.


Before joining Impax in 2007, Scott was a Securities Fund Analyst at Lincoln Financial Group. He has been in the investment management industry since 1999.


Scott holds a Bachelor of Science in business administration and a Master of Business Administration with advanced certificate in finance from Southern New Hampshire University.

Christine Cappabianca

Portfolio Manager

Christine co-manages Impax’s Systematic strategies and the actively managed Sustainable Infrastructure strategy. She has a key role in identifying optimal sources of return from the sustainable and thematic universes.

Before joining Impax Asset Management in 2021, Christine worked at The Boston Company Asset Management as a quantitative analyst, remaining with the firm through its merger with Standish Asset Management and Mellon Capital, which created Mellon Investments. At Mellon, Christine was involved in research and portfolio management responsibilities for the firm’s Internet of Things, Blockchain Innovation, U.S. Manufacturing and Smart Cures Innovation thematic strategies. She also served as the ESG data expert on Mellon’s ESG Council, ensuring that data and sustainability metrics powered active portfolios.

Christine holds a bachelor’s degree in economics from Harvard University and a master’s degree in investment management from Boston University. She holds the SASB FSA Credential.

Recent Insights

Additional Insights

Q&A: Meet Christine Cappabianca

Christine Cappabianca joined the Impax team in June as a Portfolio Manager of the firm’s systematic strategies.

8 Sep 2021
Water droplet creating ripples in blue-tinted water
Contact Us

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