Portfolio Managers
Kirsteen Morrison
David Winborne
Morningstar Low Carbon Designation™‡
Global Equity Large Cap as of 5/31/25.
Based on 95% of AUM.
An all-cap global equity strategy that seeks to achieve long-term capital growth by investing in companies that possess sustainable competitive advantages, across listed equity markets and sectors.
The transition to a more sustainable economic model creates opportunities for well-positioned companies.
The investment process includes a strong focus on risks arising from this transition.
The proprietary “Impax Sustainability Lens” identifies durable companies we believe are best positioned to to seize these opportunities and mitigate these risks.
Risk Statistics
(As of 06/30/2025)
| Since Inception – 79 Months |
---|
|
Standard Deviation | 17.33 |
Alpha | -0.07 |
Beta | 1.01 |
R-Squared | 91 |
Standard Deviation | 17.34 |
Alpha | -0.05 |
Beta | 1.01 |
R-Squared | 91 |
Standard Deviation measures fund’s variation around its mean performance over time. Higher figures indicate greater volatility.
Alpha is a coefficient measuring risk-adjusted performance, considering the risk due to the specific security, rather than the overall market.
Beta coefficient measures an investment’s relative volatility or impact of a per-unit change in the independent variable (market) on the dependent variable (portfolio), holding all else constant.
R-Squared is a measure of how much a portfolio’s performance can be explained by the returns from the overall market (or a benchmark index).
Morningstar Ratings
(As of 06/30/2025)
| Global Large-Stock Growth | Overall | 3yrs | 5yrs | 10yrs |
---|
|
★★★ | ★★ | ★★★ | – |
★★★ | ★★ | ★★★ | – |
| 323 | 323 | 285 | – |
the Morningstar Rating for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. The weights are 100% three-year rating for 36-59 months of total returns, 60% five-year rating, 40% three-year rating for 60-119 months of total returns, and 50% ten-year rating, 30% five-year rating, 20% three-year rating for 120 or more months of total returns. While the ten-year overall rating formula seems to give the most weight to the ten-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
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Lipper Rankings
(As of 06/30/2025)
| Lipper Global Multi-Cap Growth | 1yr | 3yrs | 5yrs | 10yrs |
---|
|
73 | 95 | 81 | |
| 147 | 183 | 149 | |
| 202 | 194 | 184 | |
71 | 92 | 77 | |
| 143 | 178 | 141 | |
| 202 | 194 | 183 | |
Lipper, Inc. – A Reuters Company, is a nationally recognized organization that ranks the performance of mutual funds within a universe of funds that have similar investment objectives. Rankings are historical and are based on total return with capital gains and dividends reinvested.
Lipper rankings are based on total returns (not including sales charges) for the periods indicated and compare total return performance with that of other funds in the category.
Net Asset Values
(As of 07/18/2025)
| N.A.V. | % Change |
---|
|
$17.79 | -0.39 |
$17.65 | -0.40 |
Asset Allocation
(As of 06/30/2025)
Portfolio Statistics
(As of 06/30/2025)
| Value |
---|
|
Assets (all share classes) | $132,616,430 |
Number of Holdings (All) | 39 |
Turnover Ratio (06/30/2025) | 32 |
Regions
(As of 06/30/2025)
Country Allocation
(As of 06/30/2025)
| Portfolio % |
---|
|
United States | 68.40 |
United Kingdom | 6.70 |
Switzerland | 5.00 |
Japan | 5.00 |
Belgium | 2.80 |
India | 2.50 |
France | 2.60 |
Ireland | 2.10 |
Portugal | 2.00 |
Netherlands | 1.50 |
Top Sectors
(As of 06/30/2025)
Top Ten Holdings
(As of 06/30/2025)