Siddharth Jha
Luciano Lilloy, CFA®

Based on 93% of AUM.
Overview
The Impax Global Environmental Markets Fund seeks to achieve sustainable, above market returns over 5+ years by investing in the solution providers to environmental and resource challenges.
We believe these companies are well positioned to capitalize on the many secular growth opportunities related to long-term macro-economic themes such as growing populations, rising living standards, increasing urbanisation, rising consumption, energy efficiency, and the 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 strategy employs a research-intensive bottom-up stock selection process to find the leading companies in increasingly important global environmental markets.
Impact
Companies providing environmental solutions and net carbon reductions will help lead the transition to a sustainable global economy.
Monthly Total Returns
| Month End | Quarter End | Average Annual Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1m | 3m | YTD | 1yr | 3yrs | 5yrs | 10yrs | Since Inception1 | |
| Impax Global Environmental Markets Fund – Investor Class | | -1.55 | 13.74 | 13.74 | 11.58 | 5.58 | 9.69 | 7.03 |
| Impax Global Environmental Markets Fund – Class A5 | -0.04 | -1.55 | 13.72 | 13.72 | 11.58 | 5.57 | 9.69 | 7.03 |
| Impax Global Environmental Markets Fund – Institutional Class | | -1.49 | 13.97 | 13.97 | 11.85 | 5.84 | 9.97 | 7.30 |
| MSCI ACWI (Net) Index | 1.04 | 3.29 | 22.34 | 22.34 | 20.65 | 11.19 | 11.72 | |
Quarterly Total Returns
| Month End | Quarter End | Average Annual Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1m | 3m | YTD | 1yr | 3yrs | 5yrs | 10yrs | Since Inception1 | |
| Impax Global Environmental Markets Fund – Investor Class | | -1.55 | 13.74 | 13.74 | 11.58 | 5.58 | 9.69 | 7.03 |
| Impax Global Environmental Markets Fund – Class A5 | -0.04 | -1.55 | 13.72 | 13.72 | 11.58 | 5.57 | 9.69 | 7.03 |
| Impax Global Environmental Markets Fund – Institutional Class | | -1.49 | 13.97 | 13.97 | 11.85 | 5.84 | 9.97 | 7.30 |
| MSCI ACWI (Net) Index | 1.04 | 3.29 | 22.34 | 22.34 | 20.65 | 11.19 | 11.72 | |
Performance after Sales Charge
| Month End | Quarter End | Average Annual Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1m | 3m | YTD | 1yr | 3yrs | 5yrs | 10yrs | Since Inception1 | |
| Impax Global Environmental Markets Fund – Class A (Load) | -5.54 | -6.96 | 7.46 | 7.46 | 9.49 | 4.38 | 9.08 | 6.69 |
Performance after Sales Charge
| Month End | Quarter End | Average Annual Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1m | 3m | YTD | 1yr | 3yrs | 5yrs | 10yrs | Since Inception1 | |
| Impax Global Environmental Markets Fund – Class A (Load) | -5.54 | -6.96 | 7.46 | 7.46 | 9.49 | 4.38 | 9.08 | 6.69 |
Risk Statistics
| Global Large-Stock Blend | Overall | 3yrs | 5yrs | 10yrs | |
|---|---|---|---|---|---|
| Impax Global Environmental Markets Fund – Investor Class | Rating | ★★ | ★ | ★ | ★★ |
| Impax Global Environmental Markets Fund – Class A | Rating | ★★ | ★ | ★ | ★★ |
| Impax Global Environmental Markets Fund – Institutional Class | Rating | ★★ | ★★ | ★ | ★★ |
| # In Peer Group | 305 | 305 | 297 | 199 |
Asset Allocation
Portfolio Statistics
| Value | |
|---|---|
| Value | |
| Assets (all share classes) | $1,671,542,997 |
| Number of Holdings (All) | 44 |
| Turnover Ratio (12/31/2025) | 39 |
Top Sectors
Country Allocation
| Portfolio % | |
|---|---|
| Portfolio % | |
| United States | 67.30 |
| France | 9.70 |
| Taiwan | 6.40 |
| United Kingdom | 3.90 |
| Germany | 3.80 |
| Ireland | 2.90 |
| Switzerland | 1.60 |
| Japan | 1.50 |
| Netherlands | 1.50 |