PXLIX – Impax Large Cap Fund Institutional Investment Strategy | Morningstar

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Strategy

The investment seeks long-term growth of capital. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities (such as common stocks, securities convertible into common or preferred stocks and warrants) of companies that, when purchased, have capitalizations within the range of Standard & Poor's 500 Index as measured by market capitalization. It may invest up to 45% of its assets in securities of non-U.S. issuers, including American Depositary Receipts ("ADRs"). The fund may invest no more than 25% of its assets in securities of non-U.S. issuers other than ADRs.

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
PAXLX	Impax Large Cap Fund Individual Investor Class	No Load	Open			Dec 16, 2016	$34.25M	0.980%	Above Average	$1,000	−$12.00M
PXLIX	Impax Large Cap Fund Institutional Class	Institutional	Open			Dec 16, 2016	$274.26M	0.730%	Above Average	$250,000	−$628.04M

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