Impax Funds Series Trust I has announced the reorganization of its Impax Large Cap Fund into the Impax US Sustainable Economy Fund. This decision, approved by the Board of Trustees, is expected to enhance shareholder value and aligns with the growing emphasis on sustainability in the investment sector.
Impax Funds Series Trust I, incorporated in Massachusetts, operates as an investment entity. The company is known for its commitment to sustainable investing, with a focus on funds that promote environmental and social responsibility. The recent filing, dated October 19, 2026, is part of a series of disclosures made by the Trust, including a recent N-14 filing on October 21, 2026.
The filing states, "Impax Asset Management LLC (IAM) has recommended, and the Board of Trustees of Impax Funds Series Trust I has approved, the reorganization of Impax Large Cap Fund with and into Impax US Sustainable Economy Fund." This reorganization is viewed as beneficial for the Large Cap Fund and its shareholders.
While the reorganization is subject to various conditions, it does not require shareholder approval. It is anticipated to close on or about January 19, 2027, with the net asset value of the shares to be determined around January 15, 2027. The reorganization is expected to be tax-free for federal income tax purposes.
Effective December 15, 2026, the Large Cap Fund will be closed to new accounts, and by January 11, 2027, it will not accept any additional purchases or exchanges. Investors can still sell their shares back to the Large Cap Fund or exchange them for shares of another Impax Fund before the reorganization closes.
The filing also emphasizes that this announcement does not constitute an offer to sell or a solicitation of an offer to buy shares of the US Sustainable Economy Fund. For further details, investors are encouraged to refer to the prospectus related to the reorganization, which will be available once a registration statement is filed with the Securities and Exchange Commission.
As the investment industry increasingly shifts towards sustainable practices, this reorganization by Impax Funds Series Trust I reflects a broader trend of consolidation among funds that prioritize environmental and social governance.