AUM
$810,818,802
Holdings
267
Portfolio Manager
Scott LaBreche
Christine Cappabianca
Launch Date
March 2014
Launch Date (Institutional)
January 2011
Morningstar Low Carbon Designation™

Overview

A systematic strategy investing in non-US developed markets companies 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.

SmartCarbon™

The strategy is fossil fuel free, utilizing SmartCarbon, a proprietary tool that replaces energy sector holdings with energy efficiency stocks to reduce climate-related risks and invest in the growing demand for energy efficiency solutions.

Monthly Total Returns

(As of 09/30/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Pax International Sustainable Economy Fund – Investor Class-4.040.467.1322.948.468.628.085.70
Pax International Sustainable Economy Fund – Institutional Class-4.030.567.4023.378.768.888.365.97
MSCI EAFE ESG Leaders (Net) Index-2.90-0.458.3525.737.628.818.105.60
MSCI EAFE (Net) Index-2.83-0.358.7926.298.139.338.606.10
Lipper International Large-Cap Core Funds Index-3.050.437.8024.128.939.168.696.37

Quarterly Total Returns

(As of 09/30/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Pax International Sustainable Economy Fund – Investor Class-4.040.467.1322.948.468.628.085.70
Pax International Sustainable Economy Fund – Institutional Class-4.030.567.4023.378.768.888.365.97
MSCI EAFE ESG Leaders (Net) Index-2.90-0.458.3525.737.628.818.105.60
MSCI EAFE (Net) Index-2.83-0.358.7926.298.139.338.606.10
Lipper International Large-Cap Core Funds Index-3.050.437.8024.128.939.168.696.37
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 09/30/2021)
 5 – Year
Standard Deviation 14.33
Alpha
Beta 0.97
R-Squared 97
Standard Deviation 14.33
Alpha 0.02
Beta 0.97
R-Squared 97

Morningstar Ratings

(As of 09/30/2021)
 Foreign Large BlendOverall3yrs5yrs10yrs
Pax International Sustainable Economy Fund – Investor Class Rating ★★★ ★★★★ ★★★ ★★★
Pax International Sustainable Economy Fund – Institutional Class Rating ★★★★ ★★★★ ★★★★ ★★★★
  # In Peer Group 691 691 591 397
Based on risk adjusted returns.

Lipper Rankings

(As of 09/30/2021)
 International Large-Cap Core1yr3yrs5yrs10yrs
Pax International Sustainable Economy Fund – Investor Class Percentile Rank 68 29 40 35
  Prime Rank 80 29 34 24
  # In Peer Group 119 102 86 70
Pax International Sustainable Economy Fund – Institutional Class Percentile Rank 63 24 37 25
  Prime Rank 74 24 31 17
  # In Peer Group 119 102 86 70
Based on total returns.

Net Asset Values

(As of 10/15/2021)
 N.A.V.% Change
Pax International Sustainable Economy Fund – Investor Class $11.14 0.81
Pax International Sustainable Economy Fund – Institutional Class $10.92 0.83
Past performance does not guarantee future results.

Asset Allocation

(As of 09/30/2021)

Portfolio Statistics

(As of 09/30/2021)
Value
Assets (all share classes)810,818,802
Number of Holdings (All) 267
Turnover Ratio (12/31/2020)§ 31

Regions

(As of 09/30/2021)

Country Allocation

(As of 09/30/2021)
 Portfolio %
Australia 5.70
Austria 0.20
Belgium 0.70
Denmark 4.20
Finland 1.40
France 10.50
Germany 8.30
Hong Kong 1.90
Ireland 0.80
Israel 0.20
Italy 2.00
Japan 25.00
Netherlands 7.00
New Zealand 1.40
Norway 0.70
Portugal 0.20
Singapore 1.40
Spain 2.10
Sweden 3.80
Switzerland 8.90
United Kingdom 12.30

Top Sectors

(As of 09/30/2021)

Top Ten Holdings

(As of 09/30/2021)

Portfolio Management Team

Scott LaBreche

Vice President, Portfolio Manager

Scott LaBreche is Vice President, Portfolio Manager at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds.

Scott is a Portfolio Manager of the Global Women’s Leadership Strategy, which includes the Pax Ellevate Global Women’s Leadership Fund. He is also a Portfolio Manager of the Pax International Sustainable Economy Fund, the Pax Global Sustainable Infrastructure Fund and the Pax US 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.

Recent blog posts

Christine Cappabianca

Vice President, Portfolio Manager

Christine Cappabianca is Vice President, Portfolio Manager at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds.

She is a Portfolio Manager of the firm’s systematic strategies, including the Pax Ellevate Global Women’s Leadership Fund, the Pax Global Sustainable Infrastructure Fund, the Pax US Sustainable Economy Fund and the Pax International Sustainable Economy Fund.

Before joining Impax in 2021, Christine spent 14 years with Mellon, where she held several positions, most recently as senior quantitative research analyst and portfolio manager for the firm’s Internet of Things, Blockchain Innovation, US Manufacturing and Smart Cures Innovation thematic strategies. She also served as the ESG data expert on Mellon’s ESG Council.

Christine earned a Bachelor of Arts in economics at Harvard University and a Master of Science in investment management at Boston University. She holds the SASB FSA Credential.

Recent blog posts

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

Please visit the contact page to find your regional representative.

Scroll to top
User Agent: CCBot/2.0 (https://commoncrawl.org/faq/)