Impax Asset Management (Impax), a specialist asset manager investing in the transition to a more sustainable global economy, has been awarded a CAD106 million sub-advisory mandate to manage the newly launched FÉRIQUE Global Sustainable Development Equity Fund.
FÉRIQUE Fund Management (FÉRIQUE”) is the only non-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers, engineering graduates and their families.
The FÉRIQUE Global Sustainable Development Equity Fund will be managed using the same process as the Impax Global Opportunities strategy, an all-cap global equity strategy that captures opportunities from the transition to a more sustainable economic model and includes a strong focus on the risks arising from the transition in order to a achieve long-term capital growth.
Co-managed by Kirsteen Morrison and David Winborne, the Impax Global Opportunity strategy invests in durable companies identified by the proprietary Impax Sustainability Lens and aims to invest in companies with track records of generating consistent returns, which demonstrate above average free cash flow predictability, and where it believes a company’s long-term opportunities are not necessarily reflected in today’s share price. The strategy has outperformed the MSCI All Country World Index since inception in January 2015, returning 15.6 per cent (annualised, gross) relative to 11.4 per cent from the benchmark.
David Richardson, Executive Director, Client Service & Business Development at Impax, says: “As one of the first financial companies in Quebec to address and offer dedicated funds for responsible investment, ESG integration, proxy voting and shareholder engagement, FÉRIQUE is highly regarded as an investment manager looking to serve forward-thinking investors motivated by the transition to a more sustainable economy. We are honoured that FÉRIQUE has chosen Impax to manage its first sustainable equity fund.”
Louis Lizotte, Chief, Investment solutions at FÉRIQUE, says: “In looking to expand on our strong commitment to responsible investing, we selected Impax to manage the FÉRIQUE Global Sustainable Development Equity Fund due to the firm’s global expertise in understanding the risks and opportunities arising from the transition to a more sustainable economy. We look forward to this partnership and offering a sustainable equity solution to better serve the interests of Canadian engineers and their families.”
