Specialists Strategy

Small & mid cap global equities with majority exposure to high growth Environmental Markets.

AUM
US$4,144m
Holdings
55-65
Universe
c.1,300 companies
Launch date
March 2002
Portfolio managers
Bruce Jenkyn-Jones
Jon Forster
Fotis Chatzimichalakis

Overview

A global thematic strategy investing in companies that are developing innovative solutions to resource challenges in environmental markets.

High Growth

Powerful drivers – growing population, rising living standards and finite natural resources – have triggered above average growth for companies in the environmental markets.

Pure Play

All companies derive the majority of their revenues or profits by creating solutions to environmental constraints.

Positive Impact

5 years of impact reporting demonstrating environmental benefits from companies in the portfolio

Cumulative performance (%) USD

Discrete performance (%) USD

(As of 31/10/2022)
 2022 YTD20212020201920182017
Strategy (gross)-26.4920.4733.0435.91-14.6926.85
Strategy (net)-27.1619.1631.5934.43-15.6225.47
FTSE ET Index-30.0412.1096.4034.41-15.1731.56
MSCI ACWI-21.1418.5416.2526.60-9.4123.97

All data as at 31 October 2022.

Past performance is not necessarily a guide to future performance. The value of investments can fall as well as rise and you may get back less than you have invested. Performance source: FactSet, Bloomberg, WM Reuters. Data is in USD. Composite figures are presented both gross and net of management fees and include the reinvestment of all income. FTSE index is total return (gross dividend reinvested), MSCI index is total net return (net dividend reinvested). FTSE ET is a combination of FTSE ET100 and FTSE ET50 indices. FTSE ET50 data is from since inception to December 2013 and FTSE ET100 data from January 2014 onwards. Impax Asset Management claims compliance with Global Investment Performance Standards (GIPS)®. Net-of-fee returns are computed using a model fee, which is the maximum applicable fee within the Composite. GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Further information on composite data is available on request.

Portfolio Managers

Bruce Jenkyn-Jones

Chief Investment Officer (CIO), Listed Equities, Executive Director

Bruce serves as Impax’s Chief Investment Officer, Listed Equities. He is responsible for supervising and overseeing investment process, policy and performance, regulatory oversight, and leads product design within Listed Equities and development as well as the application of Impax’s investment thesis across the Listed Equities product range.

Bruce is Chairman of the Listed Equities Investment Committee, and serves as Co-Portfolio Manager of Impax’s Specialists and Climate strategies.

Bruce joined Impax in 1999 where he worked initially on venture capital investments before developing the listed equities business.  Before joining Impax, Bruce worked as a utilities analyst at Bankers Trust and as an environmental consultant for Environmental Resources Management (ERM).

Bruce has an MBA from IESE (Barcelona), an MSc in Environmental Technology from Imperial College and a degree in Chemistry from Oxford.

Recent Insights

Jon Forster

Senior Portfolio Manager, Managing Director

Jon has worked at Impax since August 2000. He co-manages the Specialists strategy, which includes Impax’s flagship fund, Impax Environmental Markets plc, alongside Bruce Jenkyn-Jones.

Following graduation from Leeds University in Management Studies, Jon began his career in 1994, spending four years working on acquisitions at HSBC Investment Bank. Subsequently, he spent two years consulting venture capital investor Alchemy Partners, focusing on manufacturing and resource management companies.

Recent Insights

Fotis Chatzimichalakis

Portfolio Manager

Fotis is a Portfolio Manager on Impax’s Specialists and Climate strategies. He researches stocks globally and specialises in Information Technology and Industrials.

Fotis joined Impax in 2015. He has a background in engineering and joined Impax after graduating from the University of Edinburgh with an MSc focused on Sustainable Energy and Finance. He interned with Impax’s Listed Equity team from the beginning of 2015 and prior to that completed work experience at Barchester Green Investment.

Fotis is a CFA Charterholder.

Recent Insights

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