Impax Funds Performance - Impax Asset Management

Monthly Total Returns

(As of 03/31/2024)

Month End | Quarter End

Month End \| Quarter End					Average Annual Returns (%)
Symbol	Fund	Inception Date	Year-to- Date	1yr	3yrs	5yrs	10yrs	Since Inception¹	Expense Ratio (Net of Fees)^{^}	Expense Ratio (Gross of Fees)^{^}
PAXLX	Impax Large Cap Fund – Investor Class	12/16/2016	9.82	24.33	8.00	15.21	—	14.07	0.97%	0.97%
PXLIX	Impax Large Cap Fund – Institutional Class	12/16/2016	9.94	24.62	8.26	15.49	—	14.35	0.72%	0.72%
	S&P 500 Index	—	10.56	29.88	11.49	15.05	—	14.30
PXSCX	Impax Small Cap Fund – Investor Class	03/27/2008	5.76	14.21	1.93	8.06	6.09	8.15	1.16%	1.16%
PXSAX	Impax Small Cap Fund – Class A	05/01/2013	5.72	14.19	1.92	8.06	6.09	8.15	1.16%	1.16%
PXSIX	Impax Small Cap Fund – Institutional Class	03/27/2008	5.78	14.44	2.17	8.31	6.35	8.42	0.91%	0.91%
	Russell 2000 Index	—	5.18	19.71	-0.10	8.10	7.58	8.74
PAXGX	Impax Global Opportunities Fund – Investor Class	06/27/2018	5.72	12.54	5.21	10.63	—	10.41	1.23%	1.33%
PXGOX	Impax Global Opportunities Fund – Institutional Class	06/27/2018	5.75	12.79	5.46	10.90	—	10.64	0.98%	1.08%
	MSCI ACWI (Net) Index	—	8.20	23.22	6.96	10.92	—	9.94
PGRNX	Impax Global Environmental Markets Fund – Investor Class	03/27/2008	6.85	14.29	3.84	10.48	8.01	7.09	1.16%	1.16%
PXEAX	Impax Global Environmental Markets Fund – Class A	05/01/2013	6.86	14.37	3.87	10.50	8.02	7.10	1.16%	1.16%
PGINX	Impax Global Environmental Markets Fund – Institutional Class	03/27/2008	6.92	14.63	4.11	10.77	8.29	7.37	0.91%	0.91%
	MSCI ACWI (Net) Index	—	8.20	23.22	6.96	10.92	8.66	6.99
PXWEX	Impax Ellevate Global Women’s Leadership Fund – Investor Class	10/01/1993	4.49	15.76	3.61	8.13	7.70	6.95	0.77%	0.77%
PXWIX	Impax Ellevate Global Women’s Leadership Fund – Institutional Class	04/19/2006	4.57	16.09	3.87	8.41	7.97	7.12	0.52%	0.52%
	MSCI World (Net) Index	—	8.88	25.11	8.60	12.07	9.39	—
PAXDX	Impax Global Sustainable Infrastructure Fund – Investor Class	12/16/2016	2.97	7.65	0.98	7.25	—	8.45	0.80%	0.90%
PXDIX	Impax Global Sustainable Infrastructure Fund – Institutional Class	12/16/2016	3.06	7.87	1.22	7.51	—	8.73	0.55%	0.65%
	FTSE Global Infrastructure Opportunities	—	2.40	8.52	3.23	5.95	—	6.79
	MSCI ACWI (Net) Index	—	8.20	23.22	6.96	10.92	—	—
PXWGX	Impax US Sustainable Economy Fund – Investor Class	06/11/1997	10.71	27.54	10.90	13.46	11.40	6.93	0.70%	0.88%
PXGAX	Impax US Sustainable Economy Fund – Class A	05/01/2013	10.71	27.57	10.91	13.46	11.40	6.93	0.70%	0.88%
PWGIX	Impax US Sustainable Economy Fund – Institutional Class	04/02/2007	10.79	27.90	11.19	13.74	11.68	7.09	0.45%	0.63%
	Russell 1000 Index	—	10.30	29.87	10.45	14.76	12.68	—
PXINX	Impax International Sustainable Economy Fund – Investor Class	03/31/2014	4.98	14.80	3.53	7.14	4.31	5.06	0.72%	0.72%
PXNIX	Impax International Sustainable Economy Fund – Institutional Class	01/27/2011	4.89	14.97	3.77	7.41	4.56	5.32	0.47%	0.47%
	MSCI EAFE (Net) Index	—	5.78	15.32	4.78	7.33	4.80	5.26
	MSCI EAFE ESG Leaders (Net) Index	—	5.14	14.52	4.02	7.63	5.03	5.68
PAXBX	Impax Core Bond Fund – Investor Class	12/16/2016	-0.52	1.77	-2.56	0.10	—	0.86	0.71%	0.71%
PXBIX	Impax Core Bond Fund – Institutional Class	12/16/2016	-0.57	2.02	-2.35	0.33	—	1.10	0.46%	0.46%
	Bloomberg US Aggregate Index	—	-0.78	1.70	-2.46	0.36	—	1.29
	Morningstar Intermediate Core Bond	—	-0.51	2.01	-2.45	0.36	—	—
PAXHX	Impax High Yield Bond Fund – Investor Class	10/08/1999	0.69	8.45	0.13	2.97	2.75	4.79	0.92%	0.92%
PXHAX	Impax High Yield Bond Fund – Class A	05/01/2013	0.86	8.62	0.20	3.00	2.77	4.81	0.92%	0.92%
PXHIX	Impax High Yield Bond Fund – Institutional Class	06/01/2004	0.92	8.90	0.47	3.28	3.02	5.00	0.67%	0.67%
	ICE BofAML US Cash Pay High Yield Constrained (BB-B) Index	—	1.30	10.11	2.06	3.97	4.36	—
PAXWX	Impax Sustainable Allocation Fund – Investor Class	08/10/1971	4.65	12.94	3.21	8.15	6.94	8.22	0.90%	0.90%
PAXIX	Impax Sustainable Allocation Fund – Institutional Class	04/02/2007	4.75	13.27	3.47	8.42	7.21	8.30	0.65%	0.65%
	S&P 500 Index	—	10.56	29.88	11.49	15.05	12.96	—
	60% S&P 500 Index / 40% Bloomberg US Aggregate Bond Index	—	5.94	17.97	5.94	9.30	8.52	—
	Morningstar Moderate Allocation	—	5.32	15.19	4.05	7.45	6.46	—

Quarterly Total Returns

(As of 03/31/2024)

Month End | Quarter End

Month End \| Quarter End					Average Annual Returns (%)
Symbol	Fund	Inception Date	Year-to- Date	1yr	3yrs	5yrs	10yrs	Since Inception¹	Expense Ratio (Net of Fees)^{^}	Expense Ratio (Gross of Fees)^{^}
PAXLX	Impax Large Cap Fund – Investor Class	12/16/2016	9.82	24.33	8.00	15.21	—	14.07	0.97%	0.97%
PXLIX	Impax Large Cap Fund – Institutional Class	12/16/2016	9.94	24.62	8.26	15.49	—	14.35	0.72%	0.72%
	S&P 500 Index	—	10.56	29.88	11.49	15.05	—	14.30
PXSCX	Impax Small Cap Fund – Investor Class	03/27/2008	5.76	14.21	1.93	8.06	6.09	8.15	1.16%	1.16%
PXSAX	Impax Small Cap Fund – Class A	05/01/2013	5.72	14.19	1.92	8.06	6.09	8.15	1.16%	1.16%
PXSIX	Impax Small Cap Fund – Institutional Class	03/27/2008	5.78	14.44	2.17	8.31	6.35	8.42	0.91%	0.91%
	Russell 2000 Index	—	5.18	19.71	-0.10	8.10	7.58	8.74
PAXGX	Impax Global Opportunities Fund – Investor Class	06/27/2018	5.72	12.54	5.21	10.63	—	10.41	1.23%	1.33%
PXGOX	Impax Global Opportunities Fund – Institutional Class	06/27/2018	5.75	12.79	5.46	10.90	—	10.64	0.98%	1.08%
	MSCI ACWI (Net) Index	—	8.20	23.22	6.96	10.92	—	9.94
PGRNX	Impax Global Environmental Markets Fund – Investor Class	03/27/2008	6.85	14.29	3.84	10.48	8.01	7.09	1.16%	1.16%
PXEAX	Impax Global Environmental Markets Fund – Class A	05/01/2013	6.86	14.37	3.87	10.50	8.02	7.10	1.16%	1.16%
PGINX	Impax Global Environmental Markets Fund – Institutional Class	03/27/2008	6.92	14.63	4.11	10.77	8.29	7.37	0.91%	0.91%
	MSCI ACWI (Net) Index	—	8.20	23.22	6.96	10.92	8.66	6.99
PXWEX	Impax Ellevate Global Women’s Leadership Fund – Investor Class	10/01/1993	4.49	15.76	3.61	8.13	7.70	6.95	0.77%	0.77%
PXWIX	Impax Ellevate Global Women’s Leadership Fund – Institutional Class	04/19/2006	4.57	16.09	3.87	8.41	7.97	7.12	0.52%	0.52%
	MSCI World (Net) Index	—	8.88	25.11	8.60	12.07	9.39	—
PAXDX	Impax Global Sustainable Infrastructure Fund – Investor Class	12/16/2016	2.97	7.65	0.98	7.25	—	8.45	0.80%	0.90%
PXDIX	Impax Global Sustainable Infrastructure Fund – Institutional Class	12/16/2016	3.06	7.87	1.22	7.51	—	8.73	0.55%	0.65%
	FTSE Global Infrastructure Opportunities	—	2.40	8.52	3.23	5.95	—	6.79
	MSCI ACWI (Net) Index	—	8.20	23.22	6.96	10.92	—	—
PXWGX	Impax US Sustainable Economy Fund – Investor Class	06/11/1997	10.71	27.54	10.90	13.46	11.40	6.93	0.70%	0.88%
PXGAX	Impax US Sustainable Economy Fund – Class A	05/01/2013	10.71	27.57	10.91	13.46	11.40	6.93	0.70%	0.88%
PWGIX	Impax US Sustainable Economy Fund – Institutional Class	04/02/2007	10.79	27.90	11.19	13.74	11.68	7.09	0.45%	0.63%
	Russell 1000 Index	—	10.30	29.87	10.45	14.76	12.68	—
PXINX	Impax International Sustainable Economy Fund – Investor Class	03/31/2014	4.98	14.80	3.53	7.14	4.31	5.06	0.72%	0.72%
PXNIX	Impax International Sustainable Economy Fund – Institutional Class	01/27/2011	4.89	14.97	3.77	7.41	4.56	5.32	0.47%	0.47%
	MSCI EAFE (Net) Index	—	5.78	15.32	4.78	7.33	4.80	5.26
	MSCI EAFE ESG Leaders (Net) Index	—	5.14	14.52	4.02	7.63	5.03	5.68
PAXBX	Impax Core Bond Fund – Investor Class	12/16/2016	-0.52	1.77	-2.56	0.10	—	0.86	0.71%	0.71%
PXBIX	Impax Core Bond Fund – Institutional Class	12/16/2016	-0.57	2.02	-2.35	0.33	—	1.10	0.46%	0.46%
	Bloomberg US Aggregate Index	—	-0.78	1.70	-2.46	0.36	—	1.29
	Morningstar Intermediate Core Bond	—	-0.51	2.01	-2.45	0.36	—	—
PAXHX	Impax High Yield Bond Fund – Investor Class	10/08/1999	0.69	8.45	0.13	2.97	2.75	4.79	0.92%	0.92%
PXHAX	Impax High Yield Bond Fund – Class A	05/01/2013	0.86	8.62	0.20	3.00	2.77	4.81	0.92%	0.92%
PXHIX	Impax High Yield Bond Fund – Institutional Class	06/01/2004	0.92	8.90	0.47	3.28	3.02	5.00	0.67%	0.67%
	ICE BofAML US Cash Pay High Yield Constrained (BB-B) Index	—	1.30	10.11	2.06	3.97	4.36	—
PAXWX	Impax Sustainable Allocation Fund – Investor Class	08/10/1971	4.65	12.94	3.21	8.15	6.94	8.22	0.90%	0.90%
PAXIX	Impax Sustainable Allocation Fund – Institutional Class	04/02/2007	4.75	13.27	3.47	8.42	7.21	8.30	0.65%	0.65%
	S&P 500 Index	—	10.56	29.88	11.49	15.05	12.96	—
	60% S&P 500 Index / 40% Bloomberg US Aggregate Bond Index	—	5.94	17.97	5.94	9.30	8.52	—
	Morningstar Moderate Allocation	—	5.32	15.19	4.05	7.45	6.46	—

Performance after Sales Charge

(As of 03/31/2024)

Month End | Quarter End

Month End \| Quarter End					Average Annual Returns (%)
Month End \| Quarter End	1m	3m	YTD	1yr	3yrs	5yrs	10yrs	Since Inception
Impax Small Cap Fund – Class A (Load)	-2.55	-0.12	-0.12	7.89	0.01	6.85	5.49	7.77
Impax US Sustainable Economy Fund – Class A (Load)	-2.13	4.64	4.64	20.55	8.84	12.19	10.77	6.71
Impax Global Environmental Markets Fund – Class A (Load)	-2.36	0.97	0.97	8.07	1.92	9.26	7.41	6.72
Impax High Yield Bond Fund – Class A (Load)	-3.71	-3.62	-3.62	3.65	-1.36	2.06	2.30	4.61

Performance after Sales Charge

(As of 03/31/2024)

Month End | Quarter End

Month End \| Quarter End					Average Annual Returns (%)
Month End \| Quarter End	1m	3m	YTD	1yr	3yrs	5yrs	10yrs	Since Inception
Impax Small Cap Fund – Class A (Load)	-2.55	-0.12	-0.12	7.89	0.01	6.85	5.49	7.77
Impax US Sustainable Economy Fund – Class A (Load)	-2.13	4.64	4.64	20.55	8.84	12.19	10.77	6.71
Impax Global Environmental Markets Fund – Class A (Load)	-2.36	0.97	0.97	8.07	1.92	9.26	7.41	6.72
Impax High Yield Bond Fund – Class A (Load)	-3.71	-3.62	-3.62	3.65	-1.36	2.06	2.30	4.61

Performance data quoted represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

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