Impax large cap fund's Q4 2025 commentary: predicting massive returns from 'sustainable AI' that still runs on coal-powered servers

Impax Asset Management has released its Q4 2025 commentary for the Impax Large Cap Fund, providing insight into the fund's performance during the fourth quarter of 2025. The commentary outlines the fund's investment strategy and its positioning in the market, highlighting the key drivers of its returns. As of December 31, 2025, the fund's portfolio consisted of a diversified range of large-cap stocks, with a focus on companies with strong environmental, social, and governance (ESG) credentials. The fund's managers sought to capitalize on trends such as the transition to a low-carbon economy and the growing demand for sustainable products and services. With a long-term perspective, the fund aims to deliver strong risk-adjusted returns for its investors. The commentary also discusses the market outlook and the potential opportunities and challenges that lie ahead for the fund in 2026. Impax Asset Management is a leading investment manager specializing in ESG investing.