AUM
US$342m
Holdings
20-40
Universe
c.520 companies
Launch date
April 2019
Portfolio managers
Hubert Aarts
David Winborne
Siddharth Jha

Overview

A thematic strategy investing in US listed 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 fund employs a research-intensive bottom-up stock selection process to find the leading companies in increasingly important global environmental markets.

Positive Impact

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

Cumulative performance (%) USD

Discrete performance (%) USD

(As of 31/12/2022)
 2022 YTD20212020201920182017
Strategy (gross)-15.5326.2525.97
Strategy (net)-15.9525.6225.34
FTSE EO USA Index-20.5527.7550.4633.60-9.6528.79
MSCI USA-19.8526.4520.7330.88-5.0421.19

All data as at 31 December 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 GBP. Composite figures are presented both gross and net of management fees and include the reinvestment of all income. MSCI USA index is total net return (net dividend reinvested). 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.

About the Indexes

MSCI USA Index is designed to measure the performance of the large and mid cap segments of the US market. With 629 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in the US.

Portfolio Managers

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

Luciano Lilloy Fedele

Portfolio Manager

Luciano has been part of the Impax Asset Management team since 2017 and specialises in Digital Infrastructure and New Energy. He researches stocks globally with a focus on the Information Technology and Industrials sectors.

In his pre-MSc career, Luciano worked at Naked Energy where he helped develop high-energy-density solar PVT panels.

He studied physics at Universidad de Granada in Spain and undertook research in astrophysics at Tohoku University in Japan. Luciano earned a master’s degree in Climate Change, Management and Finance from Imperial College London. Luciano is a CFA Charterholder.

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