The Pax Global Environmental Markets Fund is a fossil fuel-free fund that invests in companies around the world that are offering innovative solutions in such areas as energy efficiency, water infrastructure, waste management and sustainable food and agriculture.
Given the importance of careful stewardship of natural resources to global economic growth, we believe that leading companies in environmental markets are well positioned to provide strong returns over the long term.
Capital invested in the global economy is currently producing an unsustainable level of CO2 emissions. The Pax Global Environmental Markets Fund, by contrast, has a net positive CO2 impact and makes a meaningful contribution to carbon emissions reductions. As a result of its carbon abatement, the Fund surpasses the goal of a “2 degree Celsius economy,” as advocated by climate experts.
The Fund can make a meaningful contribution to CO2 emissions reductions as well as making a significant impact through the water saved and treated and waste recycled by investments in environmental solution providers.
Learn more about the Pax Global Environmental Markets Fund.
Note that this is representative of the portfolio holdings and AUM of this fund as of December 31, 2016. This data is based on the most recently reported annual environmental data for all holdings. Methodology has been assured by Ernst & Young LLP. For further explanation of Impax’s impact methodology (which is based on equity value) please see http://www.impaxam.com/about-us/impact-investing
*Pax Global Environmental Markets Fund environmental markets sector allocation as of 9/30/2017. The Environmental Markets Classification System (EMCS) is a comprehensive global classification system for environmental markets. Environmental market companies are defined as providing products and services that deliver solutions to environmental challenges, and include environmental technology. Source: FTSE
1 Source: United Nations Framework Convention on Climate Change (UNFCCC), 2016. Aggregate effect of the intended nationally determined contributions: an update – synthesis report by the secretariat, McKinsey Global Institute, Haver, BIS, Deutsche Bank estimates, 2014, and IMF, National Central Banks and Statistical Offices, Thomson Reuters, 2014.
Fund Objective: The Pax Global Environmental Markets Fund’s investment objective is to seek long term growth of capital.
Total annual Global Environmental Markets Fund operating expenses, gross of any fee waivers or reimbursements are 1.29% for the Individual Investor Class, 1.29% for Class A and 1.04% for the Institutional Class as of 05/01/2017. The Global Environmental Markets Fund’s investment adviser has contractually agreed to reimburse expenses (excluding Acquired Fund Fees and Expenses) of the Fund to the extent such expenses exceed 1.23% of the average daily net assets of Individual Investor Class shares, 1.23% for the Class A shares and 0.98% for the Institutional Class shares. This reimbursement arrangement will remain in effect through at least December 31, 2018.
Top Ten holdings as of 12/31/17: Sealed Air Corp. 4.0%, SUEZ Environnement Co., SA 3.7%, Siemens AG 3.3%, TE Connectivity, Ltd. 3.3%, Legrand SA 3.2%, East Japan Railway Co. 3.1%, Danaher Corp. 3.0%, Ecolab, Inc. 2.9%, Ferguson PLC 2.9% and Xylem, Inc. 2.8%. Holdings are subject to change.
Risk: 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.
Impax Asset Management Ltd. is not affiliated with ALPS Distributors, Inc.