Capital at risk. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.

Information regarding key risk considerations for this Impax strategy can be viewed here.

AUM
As of 31st March 2024
US$9,278m1
Holdings
40-60
Universe
c.2,300 companies
Launch date
March 2008
Portfolio managers
Hubert Aarts
David Winborne
Siddharth Jha

Overview

The Leaders Strategy seeks to achieve sustainable, above market returns over the longer term by investing globally in companies that are developing innovative solutions to resource challenges in environmental markets. These markets address a number of long term macro-economic themes: growing populations, rising living standards, increasing urbanization, rising consumption, and depletion of limited natural resources. Investments are made in companies which have ≥20% of their underlying revenue generated by sales of products or services in environmental markets.

Resource Efficiency

Powerful drivers – growing population, rising living standards and finite natural resources – have triggered above average growth for a diverse set of companies focused on resource efficiency.

Environmental Leaders

The fund employs a research-intensive bottom-up stock selection process to find the leading companies in increasingly important global environmental markets.

Positive Impact

Companies providing environmental solutions and net carbon reductions will help lead the transition to a sustainable global economy.

Discrete performance (%) USD

(As of 31/05/2024)
Past performance does not predict future returns.
 2024 YTD20232022202120202019
Leaders Composite (gross)6.8817.63-21.9523.0326.5028.96
Leaders Composite (net)6.5216.70-22.5722.0525.5027.94
MSCI ACWI8.8822.20-18.3618.5416.2526.60

Figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments, and the income derived from them, can fall as well as rise. Investors may get back less than invested. All data as of 31st May 2024, unless otherwise stated. Performance is shown net of ongoing charges and portfolio costs, with net-income reinvested where applicable. Source: FactSet, Bloomberg, WM Reuters.

MSCI index is total net return (net dividend reinvested).

Data is in USD. Composite figures are presented both gross and net of management fees and include the reinvestment of all income. Impax Asset Management claims compliance with Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Please click here for the GIPS® Disclosure for additional information on the composite.

Investment Vehicles

Impax Global Environmental Markets Fund

Investing in resource efficiency and environmental solutions.

Portfolio Managers

Hubert Aarts

Deputy Chief Investment Officer (CIO), Listed Equities

Hubert serves as Deputy CIO, Listed Equities and is a co-Portfolio Manager of the Impax Leaders and Water strategies. Hubert is a key figure overseeing Impax Asset Management’s investment strategies in the listed equities space and is jointly responsible for the development of our investment process, research, and team. He also researches stocks globally, specialising in industrials and consumer discretionary companies.

Prior to joining Impax in 2007, Hubert was a partner at Cambrian Capital. He also spent nearly a decade at BlackRock working as a portfolio manager in European equities. His first role was at MeesPierson in The Netherlands.

Hubert has a master’s degree in Economics and Business Administration from Maastricht University.

Recent Insights

Additional Insights

David Winborne

Senior Portfolio Manager

David is a co-Portfolio Manager of the Impax Leaders, Global Opportunities and US Environmental Leaders strategies. David has been part of the Impax Asset Management team since 2015 and has responsibility for global research, specialising in energy efficiency and pollution control in environmental markets sub-sectors.


Prior to Impax, David was part of the in-house asset management team at Tesco Pension Investment where he had joint responsibility for the global equities investment platform. David also worked at Sarasin & Partners as part of the team that worked on its flagship thematic global equity fund. David began his career as a graduate equity research analyst at Insight Investment.

David has a bachelor’s degree in Politics and Economics from the University of Bath.

Recent Insights

Additional Insights

Siddharth Jha

Portfolio Manager

Siddharth is a co-Portfolio Manager of the Impax Leaders and US Environmental Leaders strategies, focusing predominantly on North American industrials and utilities firms. He has been with Impax since 2014.

Prior to joining Impax in his current role, Siddharth completed an internship with the firm in 2012 where he worked with our listed equities team. He also has experience as a clean technology consultant, working in India.

Siddharth earned a bachelor’s cum laude in History and Political Science from Macalester College and an MBA from the London Business School.

Authored Insights

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Risk Warning

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