Impax US Sustainable Economy Fund Q1 underperformance explained. The fund's exclusion of the Energy sector during a period of strong energy stock gains resulted in relative underperformance compared to broader market benchmarks. This highlights the trade-off between maintaining sustainable investment criteria and capturing sector-wide rallies. The fund's strategy focuses on companies advancing the sustainable economy transition, which means avoiding traditional energy exposure. While this positioning cost performance in the near term, it reflects the fund's commitment to environmental and social governance principles. Investors should consider whether their portfolio objectives align with exclusionary screening approaches versus more inclusive sustainability strategies.
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