PAXHX – Impax High Yield Bond Investor Investment Strategy | Morningstar

Morningstar

Strategy

The investment seeks high current income; as a secondary investment objective, it seeks capital appreciation. Under normal market conditions, the fund invests at least 80% of its assets (plus any borrowings for investment purposes) in high-yield, fixed income securities (such as bonds, notes or debentures) that are rated below BBB-by Standard & Poor's Ratings Group or below Baa3 by Moody's Investors Service, similarly rated by another major rating service, or unrated and determined by the fund's investment adviser to be of comparable quality.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PAXHX	Impax High Yield Bond Fund Investor Class	No Load	Open			Oct 8, 1999	$105.86M	0.950%	High	$1,000	−$14.70M
PXHIX	Impax High Yield Bond Fund Institutional Class	Institutional	Open			Jun 1, 2004	$385.64M	0.700%	Average	$250,000	−$17.11M
PXHAX	Impax High Yield Bond Fund Class A	Front Load	Open			May 1, 2013	$3.91M	0.950%	Below Average	$1,000	−$2.50M

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