AUM
$2,207,850,470
Holdings
48
Launch Date1
March 2008
Portfolio Managers
Hubert Aarts
David Winborne
Siddharth Jha
Morningstar Low Carbon Designation™
Global Equity Large Cap as of 09/30/22.
Based on 98% of AUM.

Overview

A global thematic strategy investing in companies that are developing innovative solutions to resource challenges 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, and is also fossil fuel free.

Impact

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

Monthly Total Returns

(As of 12/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax Global Environmental Markets Fund – Investor Class-4.2115.58-22.62-22.625.865.368.676.12
Impax Global Environmental Markets Fund – Class A5-4.2115.61-22.58-22.585.855.358.676.13
Impax Global Environmental Markets Fund – Institutional Class-4.1715.70-22.39-22.396.135.628.956.39
MSCI ACWI (Net) Index-3.949.76-18.36-18.364.005.237.985.59

Quarterly Total Returns

(As of 12/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax Global Environmental Markets Fund – Investor Class-4.2115.58-22.62-22.625.865.368.676.12
Impax Global Environmental Markets Fund – Class A5-4.2115.61-22.58-22.585.855.358.676.13
Impax Global Environmental Markets Fund – Institutional Class-4.1715.70-22.39-22.396.135.628.956.39
MSCI ACWI (Net) Index-3.949.76-18.36-18.364.005.237.985.59
5 Class A (NAV) Inception date return since May 1, 2013 is 8.04 (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.
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 12/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax Global Environmental Markets Fund – Class A (Load)-9.479.24-26.83-26.833.874.168.065.72

Performance after Sales Charge

(As of 12/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Impax Global Environmental Markets Fund – Class A (Load)-9.479.24-26.83-26.833.874.168.065.72

Risk Statistics

(As of 12/31/2022)
 5 – Year
Standard Deviation 20.70
Alpha
Beta 1.11
R-Squared 90
Standard Deviation 20.70
Alpha
Beta 1.12
R-Squared 90
Standard Deviation 20.72
Alpha 0.02
Beta 1.12
R-Squared 90

Morningstar Ratings

(As of 12/31/2022)
 Global Large-Stock BlendOverall3yrs5yrs10yrs
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 338 338 285 179
Based on risk adjusted returns.

Lipper Rankings

(As of 12/31/2022)
 Lipper Global Multi-Cap Core1yr3yrs5yrs10yrs
Impax Global Environmental Markets Fund – Investor Class Percentile Rank 77 14 29 23
  Prime Rank 99 14 24 13
  # In Peer Group 129 100 84 59
Impax Global Environmental Markets Fund – Class A Percentile Rank 76 15 30 21
  Prime Rank 98 15 25 12
  # In Peer Group 129 100 84 59
Impax Global Environmental Markets Fund – Institutional Class Percentile Rank 75 12 22 17
  Prime Rank 96 12 18 10
  # In Peer Group 129 100 84 59
Based on total returns.

Net Asset Values

(As of 01/26/2023)
 N.A.V.% Change
Impax Global Environmental Markets Fund – Investor Class $20.86 0.87
Impax Global Environmental Markets Fund – Institutional Class $21.04 0.86
Impax Global Environmental Markets Fund – Class A $20.83 0.92
Past performance does not guarantee future results.

Asset Allocation

(As of 12/31/2022)

Portfolio Statistics

(As of 12/31/2022)
 Value
Assets (all share classes)$2,207,850,470
Number of Holdings (All)48
Turnover Ratio (12/31/2021)18

Top Sectors

(As of 12/31/2022)

Country Allocation

(As of 12/31/2022)
 Portfolio %
Denmark 4.20
France 11.30
Germany 5.00
Japan 3.80
Netherlands 4.30
Switzerland 1.70
Taiwan 3.30
United Kingdom 4.90
United States 60.50

Top Ten Holdings

(As of 12/31/2022)

Portfolio Management Team

Hubert Aarts

Deputy Chief Investment Officer, Listed Equities

Hubert serves as Deputy CIO, Listed Equities. 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.

Authored Insights

David Winborne

Senior Portfolio Manager

David is co-manager of the Global Opportunities, Leaders and US Environmental Leaders strategies. He has global research responsibility and specialises in Energy Efficiency and Pollution Control environmental markets sub-sectors. David researches stocks globally with a focus on the Technology and Telecommunications sectors.

David joined Impax in 2015 from the in-house asset management team at Tesco Pension Investment where he had joint responsibility for the successful development, launch and management of a new global equities investment platform for Tesco’s pension fund. Prior to this David was a fund manager at Sarasin & Partners, where he was responsible for the firm’s Asia-Pacific equity fund and for contributing investment recommendations to Sarasin’s flagship thematic Global Equity fund.

After graduating from the University of Bath, David began his career at Insight Investment on the Global Equities graduate scheme in 2003 as a global equity analyst.

Recent Insights

Siddharth Jha

Portfolio Manager

Siddharth is co-portfolio manager of the Leaders and US Environmental Leaders strategies and a member of the Portfolio Construction team for the Water strategy. His research responsibilities centre on the water value chain and the Industrials, Utility and Healthcare sectors with a bias towards North American companies.

Siddharth joined Impax in 2014 after graduating from business school and interning with Impax’s Listed Equity team over the summer and autumn of 2012. In his pre-MBA career, Sid worked as a clean technology consultant in India.

Siddharth has an MBA with a focus in Finance from London Business School and a Bachelor of Arts in History and Political Science from Macalester College, where he graduated cum laude.

Recent Insights

Contact Us

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