Christine Cappabianca serves as Portfolio Manager and Vice President since June 2021, bringing extensive experience in quantitative research and ESG analysis to the fund's systematic investment approach. Scott LaBreche has managed the fund since February 2021 in his role as Director of Portfolio Analytics and Index Optimization, providing expertise in portfolio construction and risk management. Both managers operate within Impax Asset Management LLC's collaborative investment framework, supervised by Senior Management and the Board of Directors. The management team is supported by additional key personnel including Joe Keefe as President, Bruce Jenkyn-Jones as Chief Investment Officer for Listed Equities, and Nathan Moser as Senior Portfolio Manager. The fund management approach emphasizes systematic decision-making through proprietary analytical tools rather than individual stock-picking, ensuring consistency in the sustainable investing methodology. The portfolio managers leverage Impax's deep expertise in sustainability analysis, developed through the firm's focus on environmental markets and sustainable economic themes since its founding. The team's approach integrates traditional financial analysis with comprehensive ESG evaluation to identify companies positioned for long-term success in the transition to a more sustainable economy.

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The Impax US Sustainable Economy Fund employs a systematic investment strategy focusing on US large-capitalization equity securities positioned to benefit from the transition to a more sustainable economy. The fund integrates proprietary Environmental, Social, and Governance (ESG) analysis through two key tools: the Impax Sustainability Lens, which evaluates economic opportunities and risks across 158 MSCI GICS sub-industries related to sustainability transitions, and an enhanced Corporate Resilience Score assessing ESG-related risk impacts. Under normal market conditions, the fund invests at least 80% of its net assets in large-cap US equities while maintaining a fossil fuel-free approach. The strategy emphasizes rigorous risk controls, diversification, and active shareholder engagement to promote improved corporate ESG outcomes. The fund utilizes the proprietary SmartCarbon™ methodology to address climate change risk through scenario-based modeling of potential government interventions aimed at reducing greenhouse gas emissions, focusing on policy risks such as carbon pricing. The investment process targets well-run, profitable companies aligned with sustainable economic transitions while managing both financial and sustainability-related risks through integrated analytical frameworks.

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