AUM
$250,476,191
Holdings
188
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™
US Equity Large Cap Blend as of 09/30/22.
Based on 99% 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.

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 10/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax US Sustainable Economy Fund – Investor Class7.84-7.12-19.60-16.207.928.5011.06
Pax US Sustainable Economy Fund – Class A57.82-7.15-19.60-16.217.928.5011.06
Pax US Sustainable Economy Fund – Institutional Class7.85-7.07-19.42-16.008.208.7611.33
Russell 1000 Index8.02-5.74-18.54-16.389.9910.1912.66
Lipper Multi-Cap Core Funds Index8.31-5.10-17.86-16.109.388.7911.36

Quarterly Total Returns

(As of 09/30/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax US Sustainable Economy Fund – Investor Class-9.24-6.95-25.45-17.015.667.459.92
Pax US Sustainable Economy Fund – Class A5-9.23-6.93-25.43-16.995.667.459.92
Pax US Sustainable Economy Fund – Institutional Class-9.18-6.88-25.28-16.805.937.7110.19
Russell 1000 Index-9.25-4.61-24.59-17.227.959.0011.60
Lipper Multi-Cap Core Funds Index-8.92-4.79-24.17-17.787.267.5110.34
5 Class A Inception date return since May 1, 2013 is 10.52 (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 10/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax US Sustainable Economy Fund – Class A (Load)1.87-12.24-24.03-20.815.917.2810.43

Performance after Sales Charge

(As of 09/30/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax US Sustainable Economy Fund – Class A (Load)-14.23-12.05-29.54-21.543.696.259.30

Risk Statistics

(As of 10/31/2022)
 3 – Year
Standard Deviation 19.82
Alpha -0.12
Beta 0.94
R-Squared 99
Standard Deviation 19.81
Alpha -0.12
Beta 0.94
R-Squared 99
Standard Deviation 19.81
Alpha -0.10
Beta 0.94
R-Squared 99

Morningstar Ratings

(As of 10/31/2022)
 Large BlendOverall3yrs5yrs10yrs
Pax US Sustainable Economy Fund – Investor Class Rating ★★ ★★ ★★★ ★★
Pax US Sustainable Economy Fund – Class A Rating ★★★ ★★ ★★★ ★★
Pax US Sustainable Economy Fund – Institutional Class Rating ★★★ ★★ ★★★ ★★★
  # In Peer Group 1221 1221 1111 807
Based on risk adjusted returns.

Lipper Rankings

(As of 10/31/2022)
 Multi-Cap Core1yr3yrs5yrs10yrs
Pax US Sustainable Economy Fund – Investor Class Percentile Rank 50 60 48 51
  Prime Rank 327 355 254 190
  # In Peer Group 654 594 531 377
Pax US Sustainable Economy Fund – Class A Percentile Rank 51 60 49 51
  Prime Rank 328 356 255 189
  # In Peer Group 654 594 531 377
Pax US Sustainable Economy Fund – Institutional Class Percentile Rank 48 57 44 45
  Prime Rank 312 337 230 166
  # In Peer Group 654 594 531 377
Based on total returns.

Net Asset Values

(As of 11/28/2022)
 N.A.V.% Change
Pax US Sustainable Economy Fund – Investor Class $21.10 -1.59
Pax US Sustainable Economy Fund – Institutional Class $21.94 -1.61
Pax US Sustainable Economy Fund – Class A $21.02 -1.59
Past performance does not guarantee future results.

Asset Allocation

(As of 10/31/2022)

Portfolio Statistics

(As of 10/31/2022)
 Value
Assets (all share classes)$250,476,191
Number of Holdings (All)188
Turnover Ratio (12/31/2021)47

Top Sectors

(As of 10/31/2022)

Top Ten Holdings

(As of 10/31/2022)

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 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 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.

Recent Insights

Christine Cappabianca

Portfolio Manager

Christine co-manages Impax’s Systematic strategies and the actively managed Sustainable Infrastructure strategy.

Christine’s research brings a focus on identifying and emphasizing the optimal sources of return within sustainable/thematic universes and removing any unintentional portfolio biases.

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, U.S. Manufacturing and Smart Cures Innovation thematic strategies. She also served as the ESG data expert on Mellon’s ESG Council. In these roles she focused on informing active portfolios with the power of data and sustainability metrics.

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 Insights

Contact Us

Please visit the contact page to find your regional representative.

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