About the manager

Headquartered in London, Impax Asset Management is a subadviser to the Pax World Global Environmental Markets Fund¹ and a subsidiary of Impax Asset Management Group plc, which was founded in 1994 as a specialist finance house focusing on the markets for cleaner energy, water and waste. Today, Impax Asset Management is a leading investment manager dedicated to the environmental and cleantech sectors, with a focus on alternative energy, energy efficiency, water treatment, pollution control, waste technology and resource management. Impax believes these sectors offer some of the most compelling investment opportunities of the 21st century as the world responds to the problems caused by environmental degradation, resource scarcity and climate change.

Investment philosophy

Impax believes that, by applying a deep understanding of the effects of environmental regulation, technology and economic policy on the environmental sector, its investment teams will be able to outperform over the medium to long-term. Impax is an investment-led organization targeting the best risk-adjusted returns while investing responsibly. It has been an environmental sector specialist since 1994 and is able to leverage extensive experience, comprehensive industry insights and an international network of contacts.

Investment approach

The Pax World Global Environmental Markets Fund, subadvised by Impax Asset Management, invests primarily in equity securities of companies located around the world, including at least 40% in securities of non-U.S. issuers. The Fund invests in environmental markets — companies whose businesses and technologies focus on mitigating the environmental impacts of commerce, including such areas as alternative energy and energy efficiency; water treatment and pollution control; and waste technology and resource management.

Impax selects securities on a company-by-company basis primarily through the use of fundamental analysis. It identifies companies for possible investment by analyzing their valuations and growth prospects based on their market and competitive position, financial condition and economic, political and regulatory environment. The manager is not constrained by any particular investment style and is not limited to investing in securities of a specific market capitalization.

Portfolio managers

Impax employs highly educated and talented individuals to focus on a small number of carefully designed investment strategies. Its investment team members typically have engineering or scientific backgrounds and/or have spent the majority of their careers in the environmental sector. Key team members have been working together at Impax for over a decade.

ESG commitment

The investment committee continually monitors an ESG information database for companies in the list of investable stocks, and the Impax investment team engages with the management of companies on any issues of concern.

Impax is a signatory to the UN Principles of Responsible Investment (UNPRI), the Carbon Disclosure Project, the UK Social Investment Forum, a member of the Institutional Investors Group on Climate Change (IIGCC) and the Investor Network on Climate Risk (INCR).

Pax World Management makes no assurance that the manner in which Impax Asset Management manages its assets in the ESG Managers® Portfolios is the same as or entirely consistent with the manner in which it manages any of its other Funds or accounts.

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Concentration may lead to greater price volatility. 

¹You should consider the Pax World Global Environmental Markets Fund's investment objectives, risks, and charges and expenses carefully before investing. For this and other important information, please obtain a fund prospectus by calling 800.767.1729 or visiting www.paxworld.com. Please read it carefully before investing. Pax World Funds' are distributed by ALPS Distributors, Inc.

Impax Asset Management is not affiliated with ALPS Distributors, Inc.