Morningstar Fund Report  | 05/04/2025Print

Impax Environmental Markets (Ireland) GBP X Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Impax Environmental Markets (Ireland) GBP X Accumulation
Fund19.5-14.03.5-1.9-7.6
+/-Cat4.4-1.1-1.3-4.7-3.2
+/-B’mrk-0.2-6.3-11.7-21.2-3.4
 
Category: Sector Equity Ecology
Category Benchmark: Morningstar Global TME NR USD
Key Stats
NAV
03/04/2025		 GBP 2.13
Day Change -4.86%
Morningstar Category™ Sector Equity Ecology
IA (formerly IMA) Sector Global
ISIN IE00BYQNSD98
Fund Size (Mil)
03/04/2025		 GBP 355.98
Share Class Size (Mil)
03/04/2025		 GBP 145.61
Max Initial Charge -
Ongoing Charge
05/03/2025		  0.89%
Morningstar Research
Analyst Report18/06/2024
Ronald van Genderen, Senior Analyst
Morningstar, Inc

This is a long-standing approach that has seen a strong and consistent execution. It resides in a topnotch team with unmatched resources. Increased conviction in this team drives an upgrade to a Morningstar Analyst Rating to Gold for the cheaper...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent24
Process24
Performance
Price
Investment Objective: Impax Environmental Markets (Ireland) GBP X 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)03/04/2025
YTD-11.34
3 Years Annualised-5.78
5 Years Annualised8.67
10 Years Annualised-
12 Month Yield 0.00
Management
Manager Name
Start Date
Bruce Jenkyn-Jones
09/12/2004
Jon Forster
01/10/2010
Click here to see others
Inception Date
18/02/2016

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE ET100 TR EURMorningstar Global TME NR USD
Portfolio Profile for  Impax Environmental Markets (Ireland) GBP X Accumulation28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock98.560.0098.56
Bond0.000.000.00
Property0.000.000.00
Cash1.440.001.44
Other0.000.000.00
Top 5 Regions%
United States47.31
Eurozone12.60
United Kingdom10.97
Canada9.00
Europe - ex Euro6.72
Top 5 Sectors%
Industrials44.68
Technology23.86
Utilities10.26
Basic Materials9.49
Consumer Cyclical3.58
Top 5 HoldingsSector%
PTC IncTechnologyTechnology3.00
Trimble IncTechnologyTechnology2.89
Clean Harbors IncIndustrialsIndustrials2.77
Brambles LtdIndustrialsIndustrials2.68
Ormat Technologies IncUtilitiesUtilities2.50
Increase Decrease New since last portfolio
Impax Environmental Markets (Ireland) GBP X Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Impax Environmental Markets (Ireland) GBP X 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-8.7126.7425.8519.45-14.043.54-1.92-7.64
+/- Category2.023.21-3.024.43-1.12-1.31-4.74-3.21
+/- Category Index-5.205.1913.59-0.21-6.32-11.70-21.21-3.36
% Rank in Category3325433158647283
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-4.86   -3.32-0.03
1 Week-6.16   -3.03-0.54
1 Month-9.38   -3.51-0.68
3 Months-12.07   -4.99-2.24
6 Months-15.12   -6.36-11.01
YTD-11.34   -5.22-3.00
1 Year-14.74   -7.61-15.56
3 Years Annualised-5.78   -3.57-11.61
5 Years Annualised8.67   0.38-5.21
10 Years Annualised-   --
 
Category: Sector Equity Ecology
Category Index: Morningstar Global TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-7.64---
20243.46-4.574.50-4.94
20234.43-1.49-6.407.54
2022-8.20-8.770.172.46
20214.297.694.132.15
2020-20.3921.7810.4017.58
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageAbove Average2 star
5-YearAverageAbove Average3 star
10-Year--Not Rated
OverallAverageAbove Average3 star
 
Category :  Sector Equity EcologyClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev16.53 %
3-Yr Mean Return-2.96 %
 
3-Yr Sharpe Ratio-0.42
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Global TME NR USD  Morningstar Gbl SMID NR USD
3-Yr Beta1.241.14
3-Yr Alpha-11.46-7.42
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 7138-
Market Capitalisation% of Equity
Giant3.12
Large20.08
Medium38.80
Small34.66
Micro3.34
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings21.851.10
Price/Book2.600.87
Price/Sales2.321.11
Price/Cash Flow14.231.11
Dividend-Yield Factor1.650.94
 
Long-Term Projected Earnings Growth10.921.07
Historical Earnings Growth0.180.02
Sales Growth3.570.69
Cash-Flow Growth8.340.85
Book-Value Growth8.871.05
 
Category: Sector Equity Ecology
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock98.560.0098.56
Bond0.000.000.00
Property0.000.000.00
Cash1.440.001.44
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States47.310.87
Canada9.002.99
Latin America1.585.04
United Kingdom10.972.12
Eurozone12.600.58
Europe - ex Euro6.720.96
Europe - Emerging0.000.00
Africa0.00-
Middle East0.234.74
Japan0.000.00
Australasia2.724.50
Asia - Developed3.591.69
Asia - Emerging5.273.77
 
Category: Sector Equity Ecology
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials9.491.28
Consumer CyclicalConsumer Cyclical3.580.49
Real EstateReal Estate2.251.10
Consumer DefensiveConsumer Defensive3.471.03
HealthcareHealthcare2.410.39
UtilitiesUtilities10.261.48
IndustrialsIndustrials44.681.39
TechnologyTechnology23.860.97
 
Category: Sector Equity Ecology
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings60
Total Number of Bond Holdings0
Assets in Top 10 Holdings25.68
NameSectorCountry% of Assets
PTC Inc311United States3.00
Trimble Inc311United States2.89
Clean Harbors Inc310United States2.77
Brambles Ltd310Australia2.68
Ormat Technologies Inc207United States2.50
Waste Connections Inc310Canada2.45
Repligen Corp206United States2.38
DSM Firmenich AG101Switzerland2.35
Kingspan Group PLC310Ireland2.35
The Descartes Systems Group Inc311Canada2.31
 
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 Date18/02/2016
Fund Advisor(s)
Impax Asset Management Ltd
Fund ManagerBruce Jenkyn-Jones
Manager Start Date09/12/2004
Career Start Year1991
Education
1991, IESE(Barcelona), M.B.A.
1998, Imperial College London, M.S.
1988, Oxford University, B.S.
 
Biography
Bruce serves as Impax's Chief Investment Officer, Listed Investments. Bruce is one of Impax Asset Management's longest-serving employees. He developed the firm's listed equities business and the division's investment thesis. He is responsible for overseeing and enhancing all aspects of the listed investments business, including monitoring performance, ensuring regulatory compliance, and spearheading product design. Bruce is a co-Portfolio Manager of the Specialists and Climate strategy.
Fund ManagerJon Forster
Manager Start Date01/10/2010
Career Start Year1994
Education
1994, Leeds University, BSc
 
Biography
Jon co-manages the Specialists strategy with Bruce Jenkyn-Jones and Fotis Chatzimichalakis. He specializes in New Energy, Water and Waste Support Services. Jon researches stocks globally with a focus on Industrials and Utilities. Jon joined Impax in August 2000. He began his career working with both private and quoted companies in 1994. Following his graduation university Jon spent four years working on acquisitions at HSBC Investment Bank. Subsequently, he spent two years as a consultant to venture capital investor Alchemy Partners with particular focus on manufacturing and resource management companies. Jon has a BSc in Management Studies from Leeds University.
Fund ManagerFotis Chatzimichalakis
Manager Start Date01/10/2021
Career Start Year2015
Education
2012, National Technical University (Athens), MEng
2014, University of Edinburgh, MSc
 
Biography
Fotis is a Co-Portfolio Manager of Impax’s Specialists and Climate strategies. He researches stocks globally and specialises in Information Technology and Industrials. Fotis joined Impax in 2015. He has a background in engineering and joined Impax after graduating from the University of Edinburgh with an MSc focused on Sustainable Energy and Finance. He interned with Impax’s Listed Equities team from the beginning of 2015 and prior to that completed work experience at Barchester Green Investment. Fotis is a CFA® Charterholder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.80%
Ongoing Charge0.89%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes