AUM
$981,870,933
Holdings
229
Launch Date
Launch Date (Institutional)
March 2014
January 2011
Portfolio Manager
Scott LaBreche
Christine Cappabianca
Morningstar Low Carbon Designation™
Global Equity Large Cap as of 03/31/23.
Based on 95% of AUM.

Overview

A systematic strategy investing in non-US developed markets’ companies that we believe are positioned to benefit 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 is fossil fuel free, and 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 04/30/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax International Sustainable Economy Fund – Investor Class3.132.6012.167.0710.433.704.214.53
Impax International Sustainable Economy Fund – Institutional Class3.202.7612.317.4010.723.964.494.80
MSCI EAFE ESG Leaders (Net) Index2.823.1711.538.4211.683.634.764.69
MSCI EAFE (Net) Index2.933.4211.809.0012.224.145.255.19
Lipper International Large-Cap Core Funds Index3.353.9512.748.0711.054.185.035.24

Quarterly Total Returns

(As of 03/31/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax International Sustainable Economy Fund – Investor Class2.038.758.75-2.9711.563.324.504.29
Impax International Sustainable Economy Fund – Institutional Class2.078.838.83-2.6711.833.574.774.56
MSCI EAFE ESG Leaders (Net) Index2.488.478.47-1.3812.993.525.004.48
MSCI EAFE (Net) Index2.618.628.62-0.8613.524.035.504.97
Lipper International Large-Cap Core Funds Index2.699.099.09-2.0512.113.975.244.99
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 04/30/2023)
 5 – Year
5 – Year
Standard Deviation 18.03
Alpha 0.01
Beta 1.02
R-Squared 98
Standard Deviation 18.02
Alpha 0.03
Beta 1.02
R-Squared 97

Morningstar Ratings

(As of 04/30/2023)
 Foreign Large BlendOverall3yrs5yrs10yrs
Impax International Sustainable Economy Fund – Investor Class Rating ★★★ ★★ ★★★ ★★★
Impax International Sustainable Economy Fund – Institutional Class Rating ★★★ ★★★ ★★★★ ★★★
  # In Peer Group 683 683 622 413
Based on risk adjusted returns.

Lipper Rankings

(As of 04/30/2023)
 International Large-Cap Core1yr3yrs5yrs10yrs
Impax International Sustainable Economy Fund – Investor Class Percentile Rank 67 70 39 58
  Prime Rank 114 113 56 66
  # In Peer Group 171 162 146 114
Impax International Sustainable Economy Fund – Institutional Class Percentile Rank 63 68 31 49
  Prime Rank 107 109 44 55
  # In Peer Group 171 162 146 114
Based on total returns.

Net Asset Values

(As of 06/02/2023)
 N.A.V.% Change
Impax International Sustainable Economy Fund – Investor Class $9.81 0.93
Impax International Sustainable Economy Fund – Institutional Class $9.60 0.84
Past performance does not guarantee future results.

Asset Allocation

(As of 04/30/2023)

Portfolio Statistics

(As of 04/30/2023)
  Value
Value
Assets (all share classes) 981,870,933
Number of Holdings (All) 229
Turnover Ratio (12/31/2021)§ 55

Regions

(As of 04/30/2023)

Country Allocation

(As of 04/30/2023)
 Portfolio %
Portfolio %
Australia 7.20
Austria 0.20
Belgium 0.80
Denmark 3.20
Finland 1.00
France 12.60
Germany 8.70
Hong Kong 2.80
Ireland 0.70
Israel 0.70
Italy 2.40
Japan 20.70
Netherlands 4.50
New Zealand 0.10
Norway 0.70
Singapore 1.30
Spain 2.70
Sweden 3.40
Switzerland 10.20
United Kingdom 15.40

Top Sectors

(As of 04/30/2023)

Top Ten Holdings

(As of 04/30/2023)

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.

Authored 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
Contact Us

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