Morningstar Fund Report  | 11/04/2025Print

Impax Asian Environmental Markets (Ireland) GBP A Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Impax Asian Environmental Markets (Ireland) GBP A Accumulation
Fund8.2-15.0-6.85.8-4.4
+/-Cat-6.9-2.1-11.63.00.2
+/-B’mrk-11.5-7.3-22.0-13.5-0.1
 
Category: Sector Equity Ecology
Category Benchmark: Morningstar Global TME NR USD
Key Stats
NAV
09/04/2025		 GBP 1.57
Day Change -2.31%
Morningstar Category™ Sector Equity Ecology
IA (formerly IMA) Sector Asia Pacific Including Japan
ISIN IE00B3MGK730
Fund Size (Mil)
08/04/2025		 GBP 58.45
Share Class Size (Mil)
08/04/2025		 GBP 15.16
Max Initial Charge -
Ongoing Charge
11/02/2025		  1.29%
Investment Objective: Impax Asian Environmental Markets (Ireland) GBP A Accumulation
The Fund’s investment objective is to generate long term capital growth from rapid and sustained growth anticipated by the Investment Manager in the resource efficiency and environmental markets in certain countries in the Asia Pacific Region. These countries are predominantly China, Hong Kong, Taiwan, Japan, South Korea, India, Australia, New Zealand, Singapore, Malaysia, the Philippines and Thailand.
Returns
Trailing Returns (GBP)09/04/2025
YTD-14.55
3 Years Annualised-6.99
5 Years Annualised2.50
10 Years Annualised3.10
12 Month Yield 0.00
Management
Manager Name
Start Date
Manish Bishnoi
03/10/2023
Oscar Yang
01/01/2018
Inception Date
04/05/2010

Category Benchmark
Fund BenchmarkMorningstar Benchmark
Not BenchmarkedMorningstar Global TME NR USD
Portfolio Profile for  Impax Asian Environmental Markets (Ireland) GBP A Accumulation28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.230.0099.23
Bond0.000.000.00
Property0.000.000.00
Cash0.770.000.77
Other0.000.000.00
Top 5 Regions%
Asia - Developed35.22
Asia - Emerging30.12
Japan22.13
Australasia12.52
United States0.00
Top 5 Sectors%
Technology40.79
Industrials32.55
Consumer Cyclical15.82
Consumer Defensive3.13
Healthcare3.01
Top 5 HoldingsSector%
Taiwan Semiconductor Manufacturi... TechnologyTechnology7.83
Delta Electronics IncTechnologyTechnology4.97
Cleanaway Waste Management LtdIndustrialsIndustrials3.88
Brambles LtdIndustrialsIndustrials3.81
Samsung Electro-Mechanics Co LtdTechnologyTechnology3.63
Increase Decrease New since last portfolio
Impax Asian Environmental Markets (Ireland) GBP A Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Impax Asian Environmental Markets (Ireland) GBP A Accumulation
Category:  Sector Equity Ecology
Category Index:  Morningstar Global TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-9.8312.8131.348.15-15.03-6.775.82-4.36
+/- Category0.90-10.732.48-6.87-2.11-11.633.000.21
+/- Category Index-6.33-8.7419.09-11.51-7.32-22.02-13.47-0.08
% Rank in Category4196278666934039
Trailing Returns (GBP)09/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-2.31   -2.29-7.93
1 Week-10.91   -3.48-6.40
1 Month-14.22   -4.34-7.78
3 Months-15.43   -2.00-5.33
6 Months-16.10   -2.37-11.38
YTD-14.55   -2.99-6.52
1 Year-10.60   1.70-11.98
3 Years Annualised-6.99   -2.78-13.19
5 Years Annualised2.50   -3.11-9.60
10 Years Annualised3.10   -2.04-6.49
 
Category: Sector Equity Ecology
Category Index: Morningstar Global TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-4.36---
20241.152.572.78-0.76
20233.71-3.73-5.65-1.03
2022-9.46-4.99-4.413.33
20210.695.451.210.64
2020-13.0420.5210.9612.95
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAverage2 star
5-YearBelow AverageBelow Average2 star
10-YearBelow AverageAverage2 star
OverallBelow AverageAverage2 star
 
Category :  Sector Equity EcologyClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev15.22 %
3-Yr Mean Return-2.88 %
 
3-Yr Sharpe Ratio-0.45
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Global TME NR USD  MSCI AC Asia Pacific NR USD
3-Yr Beta0.971.10
3-Yr Alpha-10.72-6.89
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 14940-
Market Capitalisation% of Equity
Giant36.61
Large41.53
Medium21.87
Small0.00
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings19.270.97
Price/Book2.510.84
Price/Sales2.221.07
Price/Cash Flow9.670.75
Dividend-Yield Factor2.331.34
 
Long-Term Projected Earnings Growth12.571.23
Historical Earnings Growth7.310.77
Sales Growth7.691.48
Cash-Flow Growth8.540.87
Book-Value Growth6.950.82
 
Category: Sector Equity Ecology
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.230.0099.23
Bond0.000.000.00
Property0.000.000.00
Cash0.770.000.77
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States0.000.00
Canada0.000.00
Latin America0.000.00
United Kingdom0.000.00
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.000.00
Africa0.00-
Middle East0.000.00
Japan22.135.25
Australasia12.5220.71
Asia - Developed35.2216.59
Asia - Emerging30.1221.56
 
Category: Sector Equity Ecology
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials0.890.12
Consumer CyclicalConsumer Cyclical15.822.17
Real EstateReal Estate2.431.19
Consumer DefensiveConsumer Defensive3.130.93
HealthcareHealthcare3.010.49
UtilitiesUtilities1.380.20
IndustrialsIndustrials32.551.01
TechnologyTechnology40.791.66
 
Category: Sector Equity Ecology
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings45
Total Number of Bond Holdings0
Assets in Top 10 Holdings40.39
NameSectorCountry% of Assets
Taiwan Semiconductor Manufacturing Co... 311Taiwan7.83
Delta Electronics Inc311Taiwan4.97
Cleanaway Waste Management Ltd310Australia3.88
Brambles Ltd310Australia3.81
Samsung Electro-Mechanics Co Ltd311Korea, Republic Of3.63
Advantech Co Ltd311Taiwan3.47
Yadea Group Holdings Ltd Shs Unitary ... 102China3.24
MTR Corp Ltd310Hong Kong3.23
Daifuku Co Ltd310Japan3.22
Dabur India Ltd205India3.11
 
Increase Decrease New since last portfolio
Category: Sector Equity Ecology
 
Management
Name of CompanyImpax Asset Management Ireland Limited
Phone-
Website -
AddressIreland
 -   -
 Ireland
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date04/05/2010
Fund Advisor(s)
Impax Asset Management Ltd
Fund ManagerManish Bishnoi
Manager Start Date03/10/2023
Career Start Year2007
Education
2003, University of Melbourne, B.S.
 
Biography
Manish joined Impax’s Listed Investments Team in April 2023 as a Portfolio Manager, based in Hong Kong. From October 2023 he will co-manage the Asian Environmental and Asian Opportunities strategies. Manish has more than a decade of experience in Asian equities. Prior to Impax, Manish was a Portfolio Manager on the Asian Progress Fund at Macquarie Asset Management. He also served as a Senior Investment Analyst focusing on Asian Thematic Investments during his time in Macquarie. A Chartered Financial Analyst, Manish also holds a certificate in Sustainable Finance from the University of Cambridge. He has a bachelor’s degree in software engineering from the University of Melbourne.
Fund ManagerOscar Yang
Manager Start Date01/01/2018
Career Start Year2007
Education
2006, Imperial College London, BSc
2007, London School of Economics, MSc
 
Biography
Oscar co-manages the Asian Environmental Markets Strategy and Asian Opportunities Strategy with David Li. He has broad expertise in the environmental markets sub-sectors and research responsibility covering the entire universe with a focus on the Asia-Pacific region. Oscar joined Impax in 2011 as an analyst focusing on Asia-Pacific research. He began his career in the financial industry and environmental markets in 2007, previously working at Origo Partners as an investment associate and assistant fund manager, and prior to that at Midas Holdings. Oscar has an MSc from the London School of Economics.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.00%
Ongoing Charge1.29%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes