Global equity strategy invests in the transition to a more sustainable global economy
Impax Asset Management LLC, investment adviser to Pax World Funds (Pax), announced in July 2018 the launch of the Pax Global Opportunities Fund (PXGOX), sub-advised by its London affiliate, Impax Asset Management Ltd. This is the first product introduction since Pax World Management was acquired by Impax Asset Management Group plc in January 2018.
The Pax Global Opportunities Fund seeks to deliver capital growth by investing in companies positioned to benefit from the transition to a more sustainable global economy. Impax believes that demographic change, resource scarcity, inadequate infrastructure and environmental constraints will disrupt private sector markets profoundly in the coming years, creating opportunities for well-positioned companies and increased risk for companies unable or unwilling to adapt.
The Fund aims to identify and invest in companies that possess sustainable competitive advantages and track records of consistent returns on investment. Environmental, Social and Governance (ESG) analysis is an integral part of Impax’s investment research and process, providing risk mitigation and important insight into the character of a company.
“The Fund’s foundations are rooted in the same investment process of investing in high quality companies and the same ESG framework that Impax has pioneered over the last twenty years. It is an evolution of our thematic environmental strategies and broadens the investment universe to encompass an unconstrained global equity approach and wider set of opportunities arising from a less carbon intensive economy,” said David Winborne, Co-Portfolio Manager for the Pax Global Opportunities Fund.
“We have two proprietary tools to help us identify companies well positioned to benefit from the transition to a more sustainable economy. A series of financial tests helps us find companies that we believe offer consistent, predictable returns, while the Impax Sustainability Lens provides us with unique insights into evolving trends and involves deep analysis of the risks involved in the transition to a more sustainable economy. It is a framework that facilitates the discovery of the best growth companies where the opportunities outweigh the risks,” said Kirsteen Morrison, Co-Portfolio Manager for the Pax Global Opportunities Fund.
The investment managers intend to take a five-year view of a company’s prospects before investing, hold a concentrated portfolio of 35 to 45 companies, and run the fund with a low level of turnover. The portfolio has broad geographic and sector exposure and is overweight to mid-cap companies relative to the MSCI ACWI benchmark. In addition to the U.S. mutual fund, Impax Asset Management Ltd. has begun offering the strategy to European institutional and wholesale investors.
“The launch of the Pax Global Opportunities Fund leverages the increased scale and expertise of our combined firm,” said Joe Keefe, President of Impax Asset Management LLC and Pax World Funds. “This fund launch highlights our commitment to providing a more diversified range of innovative sustainable investing strategies to the global market.”
Learn more about the Pax Global Opportunities Fund at:
About Pax World Funds
Pax World Funds (“Pax”) are advised by Impax Asset Management LLC, formerly Pax World Management LLC, a pioneer in the field of sustainable investing. Pax offers a diverse lineup of mutual funds focused on the risks and opportunities arising from the transition to a more sustainable global economy. Each fund integrates environmental, social and governance (ESG) research into the investment process to better manage risk and deliver competitive long-term investment performance. Since 1971, Pax has made it possible for investors to pursue financial returns while having a positive social and environmental impact. More information at- paxworld.com
About Impax Asset Management
Founded in 1998, Impax is a specialist asset manager, with approximately £11.8 billion in both listed and real asset strategies, investing in the opportunities arising from the transition to a more sustainable global economy. We believe that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well- positioned companies and create risks for those unable or unwilling to adapt. We invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long-term.
Investments involve risk, including potential loss of principal. You should consider Pax World Funds’ investment objectives, risks, charges and expenses carefully before investing. For this and other important information, please download a fund prospectus from paxworld.com/advisors/resources/documents-and-literature
Please read it carefully before investing.
RISKS: Equity investments are subject to market fluctuations, the fund’s share price can fall because of weakness in the broad market, a particular industry, or specific holdings. Emerging market and international investments involve risk of capital loss from unfavorable fluctuations in currency values, differences in generally accepted accounting principles, economic or political instability in other nations or increased volatility and lower trading volume. The Pax Global Opportunities Fund is new and has a limited operating history.
The MSCI ACWI Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The MSCI ACWI consists of 46 country indexes comprising 23 developed and 23 emerging market country indexes. The developed market country indexes included are: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, United Kingdom and United States. The emerging market country indexes included are: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. One cannot invest directly in an index.
Impax Asset Management LLC, formerly Pax World Management LLC, is investment adviser to Pax World Funds.
© 2018 Impax Asset Management LLC. All rights reserved. Pax World Funds are distributed by ALPS Distributors, Inc. ALPS Distributors is not affiliated with Impax Asset Management LLC.