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Impax Asset Management

PRI reporting framework 2019

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Context

IFD 01. Mission and investment objective

01.1. Indicate if you have a distinct mission and investment objective for your investment in inclusive finance.

01.2. Describe your inclusive finance mission and investment objective.

IAM LLC seeks to invest with organizations that target underserved localities in the areas of affordable housing, small businesses, community development and revitalization, health care, education, women’s equality, and the environment, among others. IAM LLC believes these investments may have a positive direct impact on underserved localities, which is an important principle of our investment and business philosophy.

IAM LLC works to achieve its inclusive finance mission by investing in short-term notes and certificates of deposit issued by microfinance institutions (MFIs) and non-specialized microfinance service providers, including:

  • Community Development Financial Institutions (CDFIs)
  • US-based credit unions
  • Non-for-profit organizations

01.3. Additional information.


IFD 02. Governance, management structures and processes

02.1. Provide a brief description of the governance and management structures and processes you have in place for your responsible investment activities and implementation of the PIIF.

By prospectus, each of the funds managed by IAM LLC may invest up to 5% of fund assets in community development financial institutions. In practice, we are currently focused on utilizing these vehicles in our fixed income strategies: the Pax Core Bond Fund and the Pax High Yield Bond Fund.

The Sustainability Research Department and Investment Management Department collaborate in identifying potential investment opportunities and replacing securities as they mature. Additionally, we report on the type and value of these investments in quarterly updates on our website.


IFD 03. Social targets

03.1. Indicate if you set social targets for your organisation, specific to inclusive finance.

03.2. Additional information.


IFD 04. Percentage in equity, debt and guarantees

04.1. Of your total assets invested directly in inclusive finance, indicate what percentage is invested in the following:

Equity  

Debt
Guarantees

Other, specify

          Certificates of Deposits (CDs)
        
Total100%

04.2. Additional information. [Optional]


IFD 05. Percentage in microfinance and/or SME finance

05.1. Of your total assets invested directly in inclusive finance, indicate what percentage is invested in the following:

Microfinance

SME finance (provide your definition of SME)

          
        

Other, specify

          Non-specialized microfinance service providers
        
Total100%

05.2. Additional information. [Optional]


IFD 06. Geographical spread of microfinance investments

06.1. Indicate if you track the geographical spread of your total assets invested directly in microfinance.

06.3. Additional information. [Optional]


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