The fund is managed by a three-person team led by David Winborne, Siddharth Jha, and Luciano Lilloy, supported by a broader investment team including Joseph Keefe (President), Nathan Moser (Senior Portfolio Manager since 2008), and Bruce Jenkyn-Jones (Chief Investment Officer, Listed Equities). Impax Asset Management operates with dual headquarters in London and Portsmouth, New Hampshire, providing global perspective on environmental markets investing. The firm launched this fund in March 2008 and has built significant expertise in thematic environmental investing over more than 25 years. The management team maintains a 100% proxy voting record supporting key ESG shareholder resolutions and has achieved an A+ rating in the UN PRI annual assessment. The firm actively engages with portfolio companies on climate, nature, people, and governance issues, with 30 companies engaged via 26 outreach initiatives in 2023. Recent strategic developments include cost optimization measures and expansion into fixed income through acquisition of European high-yield assets. Despite recent performance headwinds, management remains confident in their differentiated competitive positioning and long-term investment thesis.

Read More

A global thematic strategy investing in companies that are developing innovative solutions to resource challenges. The fund aims to enable investors to benefit from growth anticipated in environmental markets through companies providing solutions to environmental pollution and improving use of finite resources. Only companies with a minimum of 20% revenue exposure to environmental markets are included in the portfolio, with an average exposure of 50-52%. The investment approach follows a Growth At Reasonable Price (GARP) strategy with bottom-up stock selection. The fund focuses on seven primary environmental themes: alternative energy, energy management and efficiency, clean and efficient transport, smart environmental services, water technologies, circular economy initiatives, and sustainable food production. The investment universe has grown from approximately 250 companies in 1999 to about 2,400 in 2024, reflecting the maturation and expansion of environmental markets. The economic case for the transition to a more sustainable economy continues to build as consumers increasingly prefer more efficient, less polluting goods and services.

Read More