AUM
$919,231,432
Holdings
48
Launch Date1
March 2008
Portfolio Managers
Hubert Aarts
David Winborne
Sid Jha
Morningstar Low Carbon Designation™

Overview

A global thematic strategy investing in companies that are developing innovative solutions to resource challenges in four key areas: new energy; water; waste and resource recovery; and sustainable food, agriculture and forestry.

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 02/29/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Pax Global Environmental Markets Fund – Investor Class-7.29-5.39-8.722.966.145.938.245.30
Pax Global Environmental Markets Fund – Class A5-7.25-5.34-8.733.016.145.948.255.30
Pax Global Environmental Markets Fund – Institutional Class-7.24-5.24-8.663.306.436.218.535.57
MSCI ACWI (Net) Index-8.08-5.89-9.093.896.965.558.105.07
FTSE Environmental Opportunities Index Series-6.94-3.99-7.468.829.427.849.56

Quarterly Total Returns

(As of 12/31/2019)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Pax Global Environmental Markets Fund – Investor Class3.668.7327.7527.7511.438.578.696.19
Pax Global Environmental Markets Fund – Class A53.718.8027.7727.7711.438.578.696.20
Pax Global Environmental Markets Fund – Institutional Class3.758.8628.1728.1711.728.858.986.46
MSCI ACWI (Net) Index3.528.9526.6026.6012.448.418.795.99
FTSE Environmental Opportunities Index Series3.7510.0031.5331.5314.6310.5310.01
5 Class A (NAV) Inception date return since May 1, 2013 is 7.37 (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 02/29/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Pax Global Environmental Markets Fund – Class A (Load)-12.33-10.57-13.76-2.634.164.757.644.81

Performance after Sales Charge

(As of 12/31/2019)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception1
Pax Global Environmental Markets Fund – Class A (Load)-2.012.8320.7520.759.377.368.085.69

Risk Statistics

(As of 02/29/2020)
 5 – Year
Standard Deviation 13.56
Alpha 0.02
Beta 1.05
R-Squared 87
Standard Deviation 13.56
Alpha 0.02
Beta 1.05
R-Squared 87
Standard Deviation 13.57
Alpha 0.04
Beta 1.05
R-Squared 87

Morningstar Ratings

(As of 02/29/2020)
 World Large StockOverall3yrs5yrs10yrs
Pax Global Environmental Markets Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★★
Pax Global Environmental Markets Fund – Class A Rating ★★★ ★★★ ★★★ ★★★
Pax Global Environmental Markets Fund – Institutional Class Rating ★★★ ★★★ ★★★ ★★★
  # In Peer Group 740 740 604 364
Based on risk adjusted returns.

Lipper Rankings

(As of 02/29/2020)
 Lipper Global Multi-Cap Core1yr3yrs5yrs10yrs
Pax Global Environmental Markets Fund – Investor Class Percentile Rank 42 47 16 41
  Prime Rank 62 57 16 27
  # In Peer Group 149 123 106 67
Pax Global Environmental Markets Fund – Class A Percentile Rank 41 46 14 38
  Prime Rank 61 56 14 25
  # In Peer Group 149 123 106 67
Pax Global Environmental Markets Fund – Institutional Class Percentile Rank 36 38 9 24
  Prime Rank 53 46 9 16
  # In Peer Group 149 123 106 67
Based on total returns.

Net Asset Values

(As of 03/27/2020)
 N.A.V.% Change
Pax Global Environmental Markets Fund – Investor Class $13.12 -2.96
Pax Global Environmental Markets Fund – Institutional Class $13.22 -2.94
Pax Global Environmental Markets Fund – Class A $13.10 -2.96
Past performance does not guarantee future results.

Asset Allocation

(As of 02/29/2020)

Portfolio Statistics

(As of 02/29/2020)
 Value
Assets (all share classes)$919,231,432
Number of Holdings (All)48
Turnover Ratio (12/31/2018)14

Top Sectors

(As of 02/29/2020)

Country Allocation

(As of 02/29/2020)
 Portfolio %
Belgium 1.30
China 4.00
France 7.30
Germany 4.80
Ireland 1.00
Japan 7.80
Korea 0.70
Netherlands 2.00
Spain 1.10
Switzerland 1.00
Taiwan 2.10
United Kingdom 7.60
United States 57.00

Top Ten Holdings

(As of 02/29/2020)

Portfolio Management Team

Hubert Aarts

Co-Head of Listed Equities, Executive Director

Hubert is an Executive Director and Co-Head of Listed Equities, together with Bruce Jenkyn-Jones. He is also responsible as co-portfolio manager for Impax’s Leaders and Water strategies, as well as leading Impax’s macro-economic research process.

Hubert joined Impax in 2007 from Cambrian Capital Partners LLP, where he was a partner and portfolio manager of the Curalium fund and Incremental Leveraged hedge funds.

Having started his career in the investment industry in 1990, Hubert has extensive experience investing in Pan-European equities as a portfolio manager at MeesPierson and Merrill Lynch Investment Managers/BlackRock, where he chaired the European Sector Strategy Group.

He holds a Master’s degree in Economics and Business Administration from Maastricht University.

Recent blog posts

David Winborne

Senior Portfolio Manager, Director

David joined Impax in September 2015 as a senior portfolio manager on the listed equity team, and his responsibilities include co-management of the Leaders and Global Opportunities strategies.

He arrived 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.

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 blog posts

Sid Jha

Portfolio Manager, Associate Director

Sid joined Impax after graduating from London Business School’s MBA program with a major in Finance. He interned with Impax’s Listed Equity team over the summer and autumn of 2012.

He focuses on researching the investment universe for all listed equity strategies as well as providing support to the portfolio management process for the Leaders, Water and Global strategies.

Sid spent the majority of his pre-MBA career as a consultant in the renewable energy industry.

Recent blog posts

Scroll to top
User Agent: CCBot/2.0 (https://commoncrawl.org/faq/)