PORTSMOUTH, NH, October17, 2022– Impax Asset Management, the asset manager specializing in investing in the transition to a more sustainable economy, and investment advisor to the Pax World Funds, today announced that the Pax World Funds will be renamed Impax Funds, effective of December 31, 2022.1
The announcement follows the decision of the Pax World Funds Board of Directors to change the name of the mutual funds to align with the global positioning of the Impax Asset Management brand. For each of the 11 Pax World Funds, “Pax” will be replaced by “Impax”. No other changes will be made to the funds.
Ian Simm, Founder and Chief Executive Officer of Impax Asset Management, said, “Impax’s global investment team continues to identify great investment opportunities in companies that are benefiting from the transition to a more sustainable. By bringing the mutual funds we manage in the United States under the Impax brand, the name change reflects our unified approach to investing worldwide.”
Impax Asset Management Group plc acquired Pax World Management LLC, investment advisor to Pax World funds, in 2018. In North America, Impax manages not only the Pax World family of mutual funds, but also separately managed accounts, separate institutional mandates, sub-advised accounts and other investments on behalf of financial intermediaries, consultants, their clients and institutional investors. All Impax strategies focus on investing in opportunities arising from the transition to a more sustainable global economy, and each fund also integrates environmental, social and governance (ESG) research into the investment process with the aim of better manage risks and offer competitive long-term solutions. investment return.
“This is a natural next chapter in the long and storied history of funds,” said John L. Liechty, Chairman of the Board of Pax World Funds. “When established in 1971, Pax World was the first mutual fund in the United States to include environmental and social criteria in addition to traditional financial measures in corporate research and portfolio construction. Change name in Impax at this time more clearly highlights the funds’ clear focus on the investment opportunities presented by the transition to a more sustainable economy.”
To mark this new chapter and celebrate the legacy of the Pax name, Impax Asset Management has created the Pax Fellowship Program. This will award annual scholarships to three New Hampshire-based educational and nonprofit institutions promoting sustainable finance, the advancement of women and girls, and the advancement of world peace. These organizations are:
The Peter T. Paul College of Business and Economics at the University of New Hampshire – Merit-based scholarship will support students enrolled in the Peter T. Paul College of Business and Economics with a GPA of 3.0 or higher and a demonstrated concentration on sustainability and/or sustainable investment.
The New Hampshire Women’s Foundation (NHWF) – The mission of the NHWF is to advance social, political, and economic opportunity and equality for women and girls through research, education, advocacy, the granting of grants and philanthropy.
Friends Forever International (FFI) – FFI works with communities around the world to build the leadership capacities of their young people from diverse backgrounds to tackle local and global issues.
Founded in 1998, Impax is a specialist asset manager, with approximately £38.0 billion/$42.2 billion as of August 31, 2022, in listed and private markets strategies, investing in opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be profoundly shaped by global sustainability challenges, including climate change, pollution and critical investments in human capital, infrastructure and resource efficiency. These trends will drive growth for companies that Impax believes are well positioned and create risks for those that are unable or unwilling to adapt.
The company seeks to invest in high quality companies with strong business models that demonstrate sound risk management. Impax offers a comprehensive suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approximately 260 staff across its offices in the UK, US, Ireland and Hong Kong, making it one of the largest development investment management industry investment teams sustainable.
Impax Asset Management Group plc comprises Impax Asset Management Ltd, Impax Asset Management (AIFM) Ltd., Impax Asset Management Ireland Ltd, Impax Asset Management LLC and Impax Asset Management (Hong Kong) Limited (together, “Impax”). Impax Asset Management Ltd, Impax Asset Management (AIFM) Ltd and Impax Asset Management LLC are registered as investment advisers with the United States Securities and Exchange Commission (“SEC”) pursuant to the Investment Advisers Act of 1940 (“Advisors Act”). Registration with the SEC does not imply a certain level of skill or training. Copies of the most recently filed Form ADV for Impax and additional information about registered investment advisers are available on the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov.
The views, opinions and forecasts included or expressed herein are as of the date indicated and are subject to change without notice. You should not assume that such information, views and forward-looking statements will remain the same after the date indicated.
The information presented here is provided for informational purposes only and is not intended to provide legal, tax, investment or financial planning advice. It does not constitute an offer, invitation, solicitation, recommendation or advice to buy or sell any securities, financial instruments or investments; follow a particular investment strategy; engage in any other transaction; or engage Impax to provide investment advice or other services.
Certain content (including data) contained in may include or be based on data obtained from statistical services, reports or corporate communications, or other third-party sources, which Impax believes to be reliable. However, Impax has generally not verified such information where Impax believes the third party source to be reliable and therefore there is a risk that information from such third party sources may be inaccurate or incomplete. You should not rely on the information presented here to make investment decisions.
IMPAX is a US registered trademark of Impax Asset Management Group Plc.
You should always carefully consider the investment objectives, risks, charges and expenses of Pax World Funds before investing. For this and other important information, visit www.impaxam.com for a fund prospectus and read it carefully before investing.
The investment techniques and decisions of the investment adviser and portfolio manager(s) of the Fund, including the investment adviser’s assessment of a company’s ESG (environmental, social and governance) profile when of the selection of investments for the Fund, may not produce the expected results and may have a negative impact on the performance of the Fund, including in relation to other Funds which do not take ESG factors into account or which achieve different conclusions regarding these factors.
All investments involve risk and loss of capital is possible.
Pax World funds are distributed by Foreside Financial Services, LLC. Foreside Financial Services, LLC is not affiliated with Impax Asset Management LLC.
This material is provided for informational purposes only and no offer to sell any fund or security is made.
1Impax Asset Management LLC is the investment advisor to Pax World Funds.