Specialists Strategy

A long-only global equities strategy that invests in stocks of small and mid-cap environmental services and technology companies.

AUM
US$4,403m
Holdings
55-65
Universe
c.1,400 companies
Launch date
March 2002
Portfolio managers
Bruce Jenkyn-Jones
Jon Forster
Fotis Chatzimichalakis

Overview

The Specialists Strategy seeks to achieve sustainable, above market returns over the longer term by investing globally in companies that are developing innovative solutions to resource challenges in environmental markets. These markets address a number of long term macro-economic themes: growing populations, rising living standards, increasing urbanization, rising consumption, and depletion of limited natural resources. Investments are made in “pure-play” small and mid-cap companies which have >50% of their underlying revenue generated by sales of products or services 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

Performance % is calculated over the time period selected and the figure in brackets is the resultant value assuming initial investment of ‘100.’

Past performance does not predict future returns. Figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments can fall as well as rise and you may get back less than you have invested. 

Discrete performance (%) USD

(As of 30/04/2023)
 2023 YTD20222021202020192018
Specialists Composite (gross)7.44-23.2320.4733.0435.91-14.69
Specialists Composite (net)7.05-24.0619.1631.5934.43-15.62
FTSE ET Index8.58-29.0612.1096.4034.41-15.17
MSCI ACWI8.85-18.3618.5416.2526.60-9.41

Past performance does not predict future returns. Figures refer to the past and that past performance is not a reliable indicator of future results. The value of investments can fall as well as rise and you may get back less than you have invested. All data as of 30th April 2023, unless otherwise stated. Performance is shown net of ongoing charges and portfolio costs, with net-income reinvested where applicable. Source: FactSet, Bloomberg, WM Reuters.

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.

Data is in USD. Composite figures are presented both gross and net of management fees and include the reinvestment of all income. Impax Asset Management claims compliance with Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Please click here for the GIPS® Disclosure for additional information on the composite.

Portfolio Managers

Bruce Jenkyn-Jones

Chief Investment Officer (CIO), Listed Investments

Bruce serves as Impax’s Chief Investment Officer, Listed Investments. Bruce is one of Impax Asset Management’s longest-serving employees. He developed the firm’s listed equities business and the division’s investment thesis. He is responsible for overseeing and enhancing all aspects of the listed investments business, including monitoring performance, ensuring regulatory compliance, and spearheading product design. Bruce is a co-Portfolio Manager of the Specialists and Climate strategy.

Before joining Impax in 1999, Bruce worked as a utilities analyst at Bankers Trust and as an environmental consultant for Environmental Resources Management.

An Oxford graduate with a bachelor’s degree in Chemistry, Bruce also holds a master’s in Environmental Engineering Technology, and an MBA from IESE Business School in Barcelona.

Authored Insights

Jon Forster

Senior Portfolio Manager

Jon co-manages Impax Asset Management’s Specialists and Climate strategies. Specialising in new energy, water, and waste support services, he researches stocks globally with a focus on the industrials and utilities sectors.

He has been part of the Impax team for over twenty years, having first joined in 2000 from Alchemy Partners where he had spent two years providing consultancy work to their portfolio management team. He began his career in 1994 at HSBC Investment Bank working on their acquisitions team.

Jon has a bachelor’s degree in German and Management Studies from Leeds University.

Authored Insights

Fotis Chatzimichalakis

Portfolio Manager

Fotis is a member of Impax Asset Management’s portfolio management team, where he researches stocks globally, focusing on the information technology and industrials sectors.

Fotis originally joined Impax as an intern in 2015, initially working in the listed equities team. He has held his current role since 2021. Prior to joining the firm, he had an internship at Barchester Green Investment.

A CFA Charterholder, Fotis also holds the Investment Management Certificate. He has master’s degree in Civil Engineering from the National Technical University of Athens and a master’s degree in Sustainable Energy Systems from the University of Edinburgh.

Authored Insights

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