AUM
$275,071,174
Holdings
157
Launch Date
Launch Date (Institutional)
Launch Date (Class A)
June 1997
April 2007
May 2013
Portfolio Managers
Scott LaBreche
Christine Cappabianca
Morningstar Low Carbon Designation™
Low Carbon logo
US Equity Large Cap Blend as of 07/31/23.
Based on 98% of AUM.

Overview

A systematic strategy investing in US large cap 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 Quality

Constructed to provide higher exposure to companies with favorable ESG ratings, as identified by the Impax Systematic ESG Rating, a proprietary rating of a company’s ESG profile.

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 08/31/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Impax US Sustainable Economy Fund – Investor Class-1.637.2716.7716.2010.009.5211.26
Impax US Sustainable Economy Fund – Class A5-1.647.2516.7416.1810.009.5211.26
Impax US Sustainable Economy Fund – Institutional Class-1.617.3216.9316.5010.289.8011.53
Russell 1000 Index-1.758.4918.5815.409.9310.7712.55
Lipper Multi-Cap Core Funds Index-1.938.3716.3714.619.729.4111.02

Quarterly Total Returns

(As of 06/30/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Impax US Sustainable Economy Fund – Investor Class5.876.7415.2517.6013.5710.7811.53
Impax US Sustainable Economy Fund – Class A55.906.7715.2717.6313.5810.7911.53
Impax US Sustainable Economy Fund – Institutional Class5.886.8215.3717.9013.8611.0611.81
Russell 1000 Index6.758.5816.6819.3614.0911.9212.64
Lipper Multi-Cap Core Funds Index6.707.4914.5817.9713.3010.3611.15
5 Class A Inception date return since May 1, 2013 is 11.46 (annualized).
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.
The performance information shown for Class A represents the performance of the Individual Investor Class shares for the period prior to Class A inception.
A 1.00% CDSC (contingent deferred sales charge) may be charged on any shares sold within 18 months of purchase over $1 million. POP (public offering price) reflects the maximum sales load for the Fund’s Class A Shares of 5.50%

Performance after Sales Charge

(As of 08/31/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Impax US Sustainable Economy Fund – Class A (Load)-7.041.3610.339.787.958.2910.63

Performance after Sales Charge

(As of 06/30/2023)
Month End | Quarter End
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Impax US Sustainable Economy Fund – Class A (Load)0.080.908.9411.1511.469.5410.90

Risk Statistics

(As of 08/31/2023)
 3 – Year
3 – Year
Standard Deviation 17.15
Alpha 0.04
Beta 0.96
R-Squared 98
Standard Deviation 17.15
Alpha 0.04
Beta 0.96
R-Squared 98
Standard Deviation 17.12
Alpha 0.06
Beta 0.96
R-Squared 98

Morningstar Ratings

(As of 08/31/2023)
 Large BlendOverall3yrs5yrs10yrs
Impax US Sustainable Economy Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★★
Impax US Sustainable Economy Fund – Class A Rating ★★★ ★★★ ★★★ ★★★
Impax US Sustainable Economy Fund – Institutional Class Rating ★★★ ★★★ ★★★ ★★★
  # In Peer Group 1277 1277 1178 874
Based on risk adjusted returns.

Lipper Rankings

(As of 08/31/2023)
 Multi-Cap Core1yr3yrs5yrs10yrs
Impax US Sustainable Economy Fund – Investor Class Percentile Rank 15 30 38 36
  Prime Rank 94 174 202 137
  # In Peer Group 651 580 533 385
Impax US Sustainable Economy Fund – Class A Percentile Rank 15 31 39 36
  Prime Rank 95 175 203 138
  # In Peer Group 651 580 533 385
Impax US Sustainable Economy Fund – Institutional Class Percentile Rank 14 27 33 30
  Prime Rank 88 156 175 112
  # In Peer Group 651 580 533 385
Based on total returns.

Net Asset Values

(As of 10/02/2023)
 N.A.V.% Change
Impax US Sustainable Economy Fund – Class A $20.91 -0.19
Impax US Sustainable Economy Fund – Institutional Class $21.89 -0.18
Impax US Sustainable Economy Fund – Investor Class $21.00 -0.19
Past performance does not guarantee future results.

Asset Allocation

(As of 08/31/2023)

Portfolio Statistics

(As of 08/31/2023)
 Value
Value
Assets (all share classes)$275,071,174
Number of Holdings (All)157
Turnover Ratio (12/31/2022)37

Top Sectors

(As of 08/31/2023)

Top Ten Holdings

(As of 08/31/2023)

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.

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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