AUM
$1,189,501,530
Holdings
142
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 02/29/24.
Based on 98% 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 03/31/2024)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax International Sustainable Economy Fund – Investor Class2.674.984.9814.803.537.144.315.06
Impax International Sustainable Economy Fund – Institutional Class2.644.894.8914.973.777.414.565.32
MSCI EAFE (Net) Index3.295.785.7815.324.787.334.805.26
MSCI EAFE ESG Leaders (Net) Index2.725.145.1414.524.027.635.035.68

Quarterly Total Returns

(As of 03/31/2024)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax International Sustainable Economy Fund – Investor Class2.674.984.9814.803.537.144.315.06
Impax International Sustainable Economy Fund – Institutional Class2.644.894.8914.973.777.414.565.32
MSCI EAFE (Net) Index3.295.785.7815.324.787.334.805.26
MSCI EAFE ESG Leaders (Net) Index2.725.145.1414.524.027.635.035.68
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 03/31/2024)
 5 – Year
5 – Year
Standard Deviation 18.18
Alpha -0.01
Beta 1.01
R-Squared 97
Standard Deviation 18.17
Alpha 0.01
Beta 1.01
R-Squared 97

Morningstar Ratings

(As of 03/31/2024)
 Foreign Large BlendOverall3yrs5yrs10yrs
Impax International Sustainable Economy Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★★
Impax International Sustainable Economy Fund – Institutional Class Rating ★★★ ★★★ ★★★★ ★★★
  # In Peer Group 696 696 646 425
Based on risk adjusted returns.

Lipper Rankings

(As of 03/31/2024)
 International Large-Cap Core1yr3yrs5yrs10yrs
Impax International Sustainable Economy Fund – Investor Class Percentile Rank 35 56 55 47
  Prime Rank 81 120 106 69
  # In Peer Group 236 215 196 147
Impax International Sustainable Economy Fund – Institutional Class Percentile Rank 30 50 41 31
  Prime Rank 69 106 80 45
  # In Peer Group 236 215 196 147
Based on total returns.

Net Asset Values

(As of 04/19/2024)
 N.A.V.% Change
Impax International Sustainable Economy Fund – Institutional Class $10.02 -0.30
Impax International Sustainable Economy Fund – Investor Class $10.24 -0.29
Past performance does not guarantee future results.

Asset Allocation

(As of 03/31/2024)

Portfolio Statistics

(As of 03/31/2024)
 Value
Value
Assets (all share classes)$1,189,501,530
Number of Holdings (All)142
Turnover Ratio (12/31/2023)§56

Regions

(As of 03/31/2024)

Country Allocation

(As of 03/31/2024)
 Portfolio %
Portfolio %
Australia 7.10
Austria 0.80
Belgium 0.80
Denmark 3.90
Finland 1.50
France 11.10
Germany 8.10
Hong Kong 2.60
Ireland 0.80
Italy 2.80
Japan 23.00
Netherlands 5.00
Norway 0.50
Singapore 1.10
Spain 3.30
Sweden 3.00
Switzerland 9.60
United Kingdom 13.90

Top Sectors

(As of 03/31/2024)

Top Ten Holdings

(As of 03/31/2024)

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 September 2021
A water droplet forms concentric rings on the surface of a pond
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Risk Warning

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