AUM
$310,038,797
Holdings
201
Launch Date
June 1997
Launch Date
(Institutional Class)
April 2007
Portfolio Managers
Scott LaBreche
Christine Cappabianca
Morningstar Low Carbon Designation™

Overview

A systematic strategy investing in U.S. 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 Sustainability Score, 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 08/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class2.678.4023.2232.1616.0816.2114.13
Pax U.S. Sustainable Economy Fund – Class A52.688.4023.2132.1816.0816.2214.13
Pax U.S. Sustainable Economy Fund – Institutional Class2.738.5123.4732.5316.3816.5114.41
Russell 1000 Index2.897.6620.7432.2518.4218.2416.40
Lipper Multi-Cap Core Funds Index2.616.2519.0333.6416.6316.6314.67

Quarterly Total Returns

(As of 06/30/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class2.428.4416.4239.2316.6115.7512.16
Pax U.S. Sustainable Economy Fund – Class A52.448.4816.4439.2616.6115.7512.17
Pax U.S. Sustainable Economy Fund – Institutional Class2.468.5316.5939.5916.8916.0412.44
Russell 1000 Index2.518.5414.9543.0719.1617.9914.90
Lipper Multi-Cap Core Funds Index1.977.6614.2343.4117.3016.7213.09
5 Class A Inception date return since May 1, 2013 is 14.31 (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 08/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Class A (Load)-2.972.4316.4424.9313.9214.9113.49

Performance after Sales Charge

(As of 06/30/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Class A (Load)-3.202.5110.0331.6014.4314.4511.53

Risk Statistics

(As of 08/31/2021)
 3 – Year
Standard Deviation 17.30
Alpha -0.06
Beta 0.91
R-Squared 99
Standard Deviation 17.27
Alpha -0.05
Beta 0.91
R-Squared 99
Standard Deviation 17.28
Alpha -0.03
Beta 0.91
R-Squared 99

Morningstar Ratings

(As of 08/31/2021)
 Large BlendOverall3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★
Pax U.S. Sustainable Economy Fund – Class A Rating ★★★ ★★★ ★★★ ★★
Pax U.S. Sustainable Economy Fund – Institutional Class Rating ★★★ ★★★ ★★★ ★★★
  # In Peer Group 1254 1254 1094 811
Based on risk adjusted returns.

Lipper Rankings

(As of 08/31/2021)
 Multi-Cap Core1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class Percentile Rank 50 45 51 64
  Prime Rank 323 262 267 242
  # In Peer Group 651 595 528 382
Pax U.S. Sustainable Economy Fund – Class A Percentile Rank 50 44 51 64
  Prime Rank 321 260 266 241
  # In Peer Group 651 595 528 382
Pax U.S. Sustainable Economy Fund – Institutional Class Percentile Rank 46 41 45 57
  Prime Rank 297 241 236 214
  # In Peer Group 651 595 528 382
Based on total returns.

Net Asset Values

(As of 09/17/2021)
 N.A.V.% Change
Pax U.S. Sustainable Economy Fund – Investor Class $28.52 -0.94
Pax U.S. Sustainable Economy Fund – Institutional Class $29.44 -0.94
Pax U.S. Sustainable Economy Fund – Class A $28.44 -0.91
Past performance does not guarantee future results.

Asset Allocation

(As of 08/31/2021)

Portfolio Statistics

(As of 08/31/2021)
 Value
Assets (all share classes)$310,038,797
Number of Holdings (All)201
Turnover Ratio (12/31/2020)65

Top Sectors

(As of 08/31/2021)

Top Ten Holdings

(As of 08/31/2021)

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 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 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 U.S. 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, U.S. 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
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