Impax Sustainable Allocation Fund

The fund invests through a team-managed allocation among multiple underlying Impax funds, which themselves hold companies positioned to benefit from the transition to a sustainable economy and screened using proprietary corporate and issuer resilience analysis covering governance, environmental and social risk management, climate risk, and human capital. The adviser allocates approximately 50–75% to equities and 25–50% to debt securities across underlying funds based on market outlook, valuations, and economic factors, and may adjust allocations without notice. The fund adheres to a fossil fuel policy excluding companies deriving revenues from fossil fuel exploration and production, or more than 5% from refining and distribution unless credible net-zero transition plans exist. Because the fund's returns depend on the adviser's allocation decisions among underlying funds, performance will diverge from any single benchmark.