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 | -0.27 | 2.67 | 15.22 | 11.31 | 14.70 | 8.95 | 9.70 | 7.18 |
| Impax Global Environmental Markets Fund – Class A5 | -0.23 | 2.67 | 15.25 | 11.34 | 14.69 | 8.96 | 9.70 | 7.18 |
| Impax Global Environmental Markets Fund – Institutional Class | -0.23 | 2.71 | 15.43 | 11.61 | 14.98 | 9.22 | 9.98 | 7.45 |
| MSCI ACWI (Net) Index | 2.24 | 8.56 | 21.09 | 22.64 | 21.64 | 14.61 | 11.31 | |
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 | 1.81 | 4.53 | 15.53 | 6.27 | 17.72 | 8.74 | 10.40 | 7.23 |
| Impax Global Environmental Markets Fund – Class A5 | 1.77 | 4.49 | 15.52 | 6.29 | 17.72 | 8.74 | 10.40 | 7.23 |
| Impax Global Environmental Markets Fund – Institutional Class | 1.79 | 4.55 | 15.70 | 6.53 | 18.01 | 9.01 | 10.67 | 7.50 |
| MSCI ACWI (Net) Index | 3.62 | 7.62 | 18.44 | 17.27 | 23.12 | 13.54 | 11.91 | |
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) | -5.71 | -2.98 | 8.90 | 5.22 | 12.54 | 7.73 | 9.08 | 6.84 |
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) | -3.84 | -1.26 | 9.16 | 0.45 | 15.52 | 7.52 | 9.78 | 6.89 |
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 | 308 | 308 | 300 | 205 |
Asset Allocation
Portfolio Statistics
| Value | |
|---|---|
| Value | |
| Assets (all share classes) | $1,824,604,174 |
| Number of Holdings (All) | 44 |
| Turnover Ratio (10/31/2025) | 30 |
Top Sectors
Country Allocation
| Portfolio % | |
|---|---|
| Portfolio % | |
| United States | 68.20 |
| France | 9.80 |
| Taiwan | 6.20 |
| United Kingdom | 3.90 |
| Germany | 3.50 |
| Ireland | 2.90 |
| Japan | 1.50 |
| Switzerland | 1.50 |