Home Latest Articles Summary The Impax Global Environmental Markets Fund strategy demonstrated resilience by outperforming its primary benchmark, the MSCI ACWI index, despite delivering negative returns amid a volatile first quarter. The portfolio benefited from exposure to companies with robust earnings delivery, such as stocks within the semiconductor value chain. Materials also positively contributed to absolute and relative performance, driven by the Impax Global Environmental Markets Fund's more durable industrial gas holdings. Within Health Care, holdings with Life Sciences Tools & Services exposure sold off as a function of mixed earnings results and M&A uncertainty. Impax Global Environmental Markets Fund maintains exposure to high-quality, operationally defensive businesses in resilient areas like waste and recycling, industrial gases and utilities, providing a ballast for the portfolio.…