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United StatesUnited States Institutional Investor

US Small Cap Strategy

A core equities strategy focused on risk management and identifying high quality US small cap companies with fair valuations.

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 31 December 2024
US$733m
Holdings
50-75
Launch date
April 2008
Portfolio Managers
Nathan Moser CFA®
Curtis Kim CFA®

Overview

The Impax Small Cap strategy seeks to achieve capital growth over 5+ years by investing in US small cap companies positioned to capture the anticipated growth and innovation within small cap markets.

The strategy employs a risk focused, bottom-up investment process which incorporates proprietary tools and research to identify high quality companies at reasonable prices that exhibit strong free cash flow, strong balance sheets, undervalued growth potential and disciplined management teams.

Quality companies

Bottom-up stock selection focuses on companies that exhibit high free cash flow, strong balance sheets, undervalued growth potential and management teams that exercise capital discipline.

Risk management

Proactive risk management seeks to manage volatility and market risk through a focus on valuation and quality, together with a strong sell discipline.

Sustainability

Proprietary tools and research are integrated to better manage sustainability risks and identify investment opportunities.

Investment Vehicles

Close up of succulent plant

Impax Small Cap Fund

A core equities strategy focused on risk management and identifying high quality US small cap companies with fair valuations.

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Portfolio Management Team

Nathan Moser, CFA®

Senior Portfolio Manager

Nathan is a co-Portfolio Manager of the Impax US Small Cap strategy and a member of the Multi-Asset Sustainable Allocation team. He has been with Impax Asset Management since 2008.

Nathan previously worked in the portfolio management team at Citizens Funds where he initially joined as an analyst. He began his investment career at John Hancock Investment Management.

Nathan is a CFA® Charterholder and member of the CFA Institute. He also holds a bachelor’s degree in investment and economics from Babson College.

Authored Insights

Disrupting the inefficient healthcare system

World-leading innovation means the US is home to a breadth of exciting – and under-researched – smaller healthcare companies that are improving outcomes for patients and providers

22 February 2024

Curtis Kim, CFA®

Portfolio Manager

Curtis is a co-Portfolio Manager of the Impax US Small Cap Strategy, bringing his expertise to the firm’s coverage of innovative and compelling businesses further down the market cap spectrum.

He joined the investment industry in a fixed income research role at FactSet Research Systems in 2005, before moving to Legg Mason a subsidiary of Clearbridge Investments in 2008 to become a research analyst. In 2015, he joined SGF Capital Management, a long-short hedge fund focused on US small and mid-cap equities.

In addition to holding a bachelor’s degree in political science from Colgate University, Curtis has a master’s degree in business administration from Cornell University. He is a CFA® Charterholder.

Recent Insights

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Risk Warning

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