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AUM
$1,137,280,953
Holdings
149
Launch Date
Launch Date (Institutional)
March 2014
January 2011
Portfolio Manager
Scott LaBreche
Christine Cappabianca
Morningstar Low Carbon Designation™
Low Carbon logo
Global Equity Large Cap as of 12/31/23.
Based on 96% of AUM.

Overview

A systematic core strategy that seeks to integrate the risks and opportunities arising from the transition to a more sustainable economy.

Sustainability Lens

The strategy integrates the Impax Sustainability Lens, a proprietary tool that weights the portfolio toward subsectors we believe offer attractive opportunities and lower risk associated with the transition to a more sustainable economy.

ESG Leaders

Constructed to provide higher exposure to companies with favorable ESG ratings relative to their sector and industry peers, as determined by MSCI.

Energy Transition Approach

The strategy replaces traditional energy companies with energy efficiency companies, with the aim to reduce climate-related risks and to invest in the growing demand for energy efficiency solutions.

Monthly Total Returns

(As of 01/31/2024)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax International Sustainable Economy Fund – Investor Class-0.4915.17-0.498.252.976.654.314.69
Impax International Sustainable Economy Fund – Institutional Class-0.5015.30-0.508.603.226.924.574.96
MSCI EAFE ESG Leaders (Net) Index0.8916.500.8910.543.807.385.145.42
MSCI EAFE (Net) Index0.5815.750.5810.014.596.924.774.92
Lipper International Large-Cap Core Funds Index-0.8113.13-0.816.714.635.904.154.25

Quarterly Total Returns

(As of 12/31/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax International Sustainable Economy Fund – Investor Class5.6411.8418.9218.922.647.973.874.76
Impax International Sustainable Economy Fund – Institutional Class5.8012.0219.2819.282.938.244.155.03
MSCI EAFE ESG Leaders (Net) Index5.5211.0018.8218.823.168.484.565.39
MSCI EAFE (Net) Index5.3110.4218.2418.244.028.164.284.91
Lipper International Large-Cap Core Funds Index5.2210.2616.8216.824.287.513.724.34
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 01/31/2024)
 5 – Year
5 – Year
Standard Deviation 18.15
Alpha -0.02
Beta 1.01
R-Squared 97
Standard Deviation 18.14
Alpha
Beta 1.01
R-Squared 97

Morningstar Ratings

(As of 01/31/2024)
 Foreign Large BlendOverall3yrs5yrs10yrs
Impax International Sustainable Economy Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★★
Impax International Sustainable Economy Fund – Institutional Class Rating ★★★ ★★★ ★★★★ ★★★
  # In Peer Group 699 699 642 423
Based on risk adjusted returns.

Lipper Rankings

(As of 01/31/2024)
 International Large-Cap Core1yr3yrs5yrs10yrs
Impax International Sustainable Economy Fund – Investor Class Percentile Rank 32 59 47 39
  Prime Rank 76 131 96 59
  # In Peer Group 240 223 205 155
Impax International Sustainable Economy Fund – Institutional Class Percentile Rank 27 53 38 28
  Prime Rank 64 117 76 42
  # In Peer Group 240 223 205 155
Based on total returns.

Net Asset Values

(As of 03/01/2024)
 N.A.V.% Change
Impax International Sustainable Economy Fund – Institutional Class $10.35 1.07
Impax International Sustainable Economy Fund – Investor Class $10.58 1.05
Past performance does not guarantee future results.

Asset Allocation

(As of 01/31/2024)

Portfolio Statistics

(As of 01/31/2024)
 Value
Value
Assets (all share classes)$1,137,280,953
Number of Holdings (All)149
Turnover Ratio (12/31/2023)§56

Regions

(As of 01/31/2024)

Country Allocation

(As of 01/31/2024)
 Portfolio %
Portfolio %
Australia 6.80
Austria 0.90
Belgium 0.70
Denmark 3.50
Finland 1.50
France 11.00
Germany 8.30
Hong Kong 2.40
Ireland 0.70
Italy 2.60
Japan 23.20
Netherlands 4.90
Norway 0.60
Singapore 1.30
Spain 2.50
Sweden 3.20
Switzerland 10.20
United Kingdom 13.60
United States 0.30

Top Sectors

(As of 01/31/2024)

Top Ten Holdings

(As of 01/31/2024)

Portfolio Management Team

Scott LaBreche

Portfolio Manager

Scott is a co-Portfolio Manager of the Impax Global Women’s Leadership, US Sustainable Economy, and International Sustainable Economy strategies. Additionally, as a member of the Quantitative Research Group, he is responsible for portfolio analytics, 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 is a co-Portfolio Manager of the Impax Sustainable Infrastructure, Global Women’s Leadership, US Sustainable Economy and International Sustainable Economy strategies. 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
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