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WHEB Sustainable Impact Fund

Investing in industries of the future which solve sustainability challenges for the world

LATEST REPORT:
November Report
Overview Performance Portfolio The Team Fund Facts Ratings Reports & Resources Impact Microsite

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INVEST IN IMPACT

The need to address longer term sustainability issues has never been greater.

We invest in companies that are part of the solution.

Pengana has appointed UK-based  Foresight Group LLP to manage the Fund. WHEB, a registered trading name of Foresight Group LLP, is a global leader in sustainable investing with a focus on the opportunities created by the transition to more sustainable, resource-efficient, and energy-efficient economies.

The portfolio is actively managed, and stock selection is based on deep research integrating financial factors with environmental, social and governance factors to invest in companies which produce goods and services that solve sustainability challenges.

WHEB have identified critical environmental and social challenges facing the global population over the coming decades. WHEB invests in a diverse portfolio of global companies providing solutions to these sustainability challenges via nine sustainable investment themes:

CLEANER ENERGY

CLEANER ENERGY

ENVIRONMENTAL SERVICES

Environmental
Services

RESOURCE EFFICIENCY

Resource
Efficiency

WATER MANAGEMENT

WATER
Management

SUSTAINABLE TRANSPORT

Sustainable
Transport

safety

HEALTH

health

WELL-BEING

well-being

EDUCATION

education

  • OUR 9
    SUSTAINABILITY
    THEMES

  • CLEANER
    ENERGY

  • ENVIRONMENTAL
    SERVICES

  • RESOURCE
    EFFICIENCY

  • WATER
    MANAGEMENT

  • SUSTAINABLE
    TRANSPORT

  • SAFETY

  • HEALTH

  • WELL-BEING

  • EDUCATION

CORE TO OUR INVESTMENT PHILOSOPHY

Proven investment expertise.

The Fund’s investment manager, WHEB, is world-renowned for its experience, innovation and thought leadership in sustainable investing and impact measurement.

Diversification.

The portfolio will consist of 40-60 global companies, with usually no more than 3% of the Fund invested in each. This portfolio will have materially different exposures to broad global indices.

In-depth research.

The WHEB investment team conducts deep fundamental research on companies meeting their criteria of producing goods and services to address sustainability challenges.

Measurement of investment impact.

WHEB measures, calculates and reports on the extent of positive social and environmental impact associated with investments in the Fund.

ALL OF OUR IMPACT TOOLS ARE AVAILABLE ON AN IMPACT MICROSITE

To view our impact report, impact calculator, impact map, case studies and more, please click below.

TAKE ME TO THE IMPACT MICROSITE
CLICK HERE TO DOWNLOAD THE WHITEPAPER

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PERFORMANCE

  • CHART
  • TABLE
  • UNIT PRICES

From August 2017, performance figures are those of the Pengana WHEB Sustainable Impact Fund’s class A units (net of fees and including reinvestment of distributions). The strategy’s AUD performance between January 2006 and July 2017 (shown in the shaded area in the chart) has been simulated by Pengana from the monthly net GBP returns of the Henderson Industries of the Future Fund (from 1 January 2006 to 31 December 2011) and the FP WHEB Sustainability Impact Fund (from 30 April 2012 to 31 July 2017). This was done by: 1) converting the GBP denominated net returns to AUD using FactSet’s month-end FX rates (London 4PM); 2) adding back the relevant fund’s monthly ongoing charge figure; then 3) deducting the Pengana WHEB Sustainable Impact Fund’s management fee of 1.35% p.a. The WHEB Listed Equity strategy did not operate between 1 January 2012 and 29 April 2012 – during this period returns are nulled. The Henderson Industries of the Future Fund’s and the FP WHEB Sustainability Impact Fund’s GBP net track record data is historical. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions.  No allowance has been made for buy/sell spreads.  Please refer to the PDS for information regarding risks. Past performance is not a reliable indicator of future performance. The value of the investment can go up or down.

The WHEB Listed Equity Strategy has been implemented in the Pengana WHEB Sustainable Impact Fund from 1 August 2017. The financial information refers to the WHEB Listed Equity Strategy. For full performance history of the prior Hunter Hall Global Deep Green strategy please refer to the unit price history section below.

PERFORMANCE AT 31 Dec 2025
1 MTH 1 YEAR 3 YEARS P.A. 5 YEARS P.A. SINCE INCEPTION P.A.
WHEB Sustainable Impact Fund -2.3% 1.5% 5.4% 2.1%
Strategy (partial simulation – see below) 5.4%
MSCI World Total Return Index (net, AUD unhedged) -0.9% 12.4% 21.8% 15.5% 8.6%

Swipe horizontally to see all columns

From August 2017, performance figures are those of the Pengana WHEB Sustainable Impact Fund’s class A units (net of fees and including reinvestment of distributions). The strategy’s AUD performance between January 2006 and July 2017 (shown in the shaded area in the chart) has been simulated by Pengana from the monthly net GBP returns of the Henderson Industries of the Future Fund (from 1 January 2006 to 31 December 2011) and the FP WHEB Sustainability Impact Fund (from 30 April 2012 to 31 July 2017). This was done by: 1) converting the GBP denominated net returns to AUD using FactSet’s month-end FX rates (London 4PM); 2) adding back the relevant fund’s monthly ongoing charge figure; then 3) deducting the Pengana WHEB Sustainable Impact Fund’s management fee of 1.35% p.a. The WHEB Listed Equity strategy did not operate between 1 January 2012 and 29 April 2012 – during this period returns are nulled. The Henderson Industries of the Future Fund’s and the FP WHEB Sustainability Impact Fund’s GBP net track record data is historical. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions.  No allowance has been made for buy/sell spreads.  Please refer to the PDS for information regarding risks. Past performance is not a reliable indicator of future performance. The value of the investment can go up or down.

The WHEB Listed Equity Strategy has been implemented in the Pengana WHEB Sustainable Impact Fund from 1 August 2017. The financial information refers to the WHEB Listed Equity Strategy. For full performance history of the prior Hunter Hall Global Deep Green strategy please refer to the unit price history section below.

Swipe horizontally to see all columns

Download Unit Prices
Where a distribution is shown, the price for that date is prior to the payment of the distribution. The following day's price will exclude that distribution payment amount.

PORTFOLIO

Total portfolio holdings as at 31 Dec 2025: 41

  • TOP HOLDINGS (alphabetically)
  • Portfolio breakdown
Agilent Technologies, Inc.
United States
Health Care
Agilent Technologies is a specialist in the development and manufacture of bio-analytics for the life sciences and chemical analysis industries. The company's mission is to advance quality of life. Within healthcare, its analytical instruments are used in the development and testing of healthcare products. Agilent also has a chemical analysis business which makes equipment for monitoring levels of pollutants in the ambient environment and measuring contaminants in food and the human body.
AstraZeneca PLC
United Kingdom
Health Care
AstraZeneca is a high-quality pharma company with a strong portfolio of commercial products that lead to better overall health outcomes for patients, who are often suffering from life-threatening or debilitating illnesses. The company's products treat issues of high unmet need, particularly in the oncology and rare disease portfolios.
Autodesk, Inc.
United States
Information Technology
Autodesk is a global leader in 3D design and engineering software and services. Its products are used by architects, engineers and designers to design, develop and manufacture and operate a vast range of products, buildings and services. Autodesk tools are a critical component in the design and operation of more resource efficient products and buildings. The product brands include Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit.
Bureau Veritas SA
France
Industrials
Bureau Veritas is a world leader in testing, inspection and certification (TIC). Its services and solutions help ensure clients meet standards and regulations covering quality, health and safety, environmental protection and social responsibility. It covers a very wide range of sectors including: Marine & Offshore, Agri-Food & Commodities, Industry, Buildings & Infrastructure, Consumer Products and Certification.
First Solar, Inc.
United States
Information Technology
First Solar is a US-based manufacturer of solar photovoltaic (PV) panels. Headquartered in Arizona, the company is the leading supplier of thin-film modules that are used primarily in utility-scale and commercial power plants. The company has manufacturing facilities in Malaysia and Vietnam as well as the United States and operates a sector leading approach to manufacture and recycling of its solar modules.
Globus Medical Inc Class A
United States
Health Care
Globus Medical is a best-in-class spinal medical technology company headquartered in Pennsylvania, US. It has a large portfolio of solutions to promote healing in patients with musculoskeletal disorders. A newer, fast growing segment called "Enabling Technologies" centres around ExcelsiusGPS, the world's first robotic navigation platform which supports surgeons in spinal operations. Globus Medical merged with its direct competitor NuVasive in September 2023. The company was founded in 2003.
Infineon Technologies AG
Germany
Information Technology
Infineon Technologies manufactures semiconductors and related systems. The company's products include power semiconductors, as well as microcontrollers and radio frequency products and sensors. The products are key enablers of several important end markets including electric and hybrid road vehicles, renewable power generation including wind turbines, efficient power management in industrial systems and applications and in other types of electrical infrastructure.
Keyence Corporation
Japan
Information Technology
The company's products include machine visions systems such as sensors and measuring instruments that are primarily used in the automation of factories. These components help customers achieve higher levels of efficiency, energy-savings, improved material utilisation and reduced wastage and quality management.
TE Connectivity plc
United States
Information Technology
TE Connectivity is a US-based manufacturer of electronic components and wireless systems. The company's main market is the automotive industry where its products are used to improve safety and fuel efficiency through increased levels of automation and electrification. The company does also sell products into industrial and telecommunications markets where they are often used in applications to help improve energy efficiency and safety and other types of electrical infrastructure.
Trimble Inc.
United States
Information Technology
Trimble is the leading provider of location-based solutions which contribute to efficiency and productivity improvements. It operates predominantly in the construction, transport, and agriculture end-markets, where we expect the company to benefit from increasing demand for efficiency improvements. The company is listed in the US but derives around 50% of its sales from countries outside the US.

Allocations may not sum to 100% due to rounding.

THE TEAM

George Latham

George Latham

Managing Director

Read full profile >
Seb Beloe

Seb Beloe

Managing Director, Head of Impact Research

Read full profile >
Ted Franks

Ted Franks

Managing Director, Fund Manager

Read full profile >
Ty Lee

Ty Lee

Associate Director, Investments

Read full profile >
Claire Jervis

Claire Jervis

Associate Director, Investments

Read full profile >
Ben Kluftinger

Ben Kluftinger

Senior Manager, Investments

Read full profile >
Rachael Monteiro

Rachael Monteiro

Stewardship and Climate Associate

Read full profile >
Katie Woodhouse

Katie Woodhouse

Investment Associate

Read full profile >
Chloe Tang

Chloe Tang

Investment Associate

Read full profile >

Fund Facts

MINIMUM INVESTMENT:

$10,000

RECOMMENDED TIMEFRAME:

At least 7 years

INCEPTION DATE:

31 October 2007. Relaunched on 1 August 2017.*

MANAGEMENT FEE (INCL GST):

1.35% pa

BUY/SELL SPREAD:

0.25% on both applications and redemptions

ENTRY/ EXIT FEES:

Nil

FUND PRICING:

Daily

DISTRIBUTION FREQUENCY:

Annually in June

APIR CODE:

HHA0007AU

*The Hunter Hall Global Deep Green Trust was relaunched on 1 August 2017 as the Pengana WHEB Sustainable Impact Fund employing the WHEB Listed Equity Strategy. Prior to relaunch, the Fund employed a different strategy. The Hunter Hall Global Deep Green Trust incepted on 31 October 2007. The WHEB Listed Equity strategy was first employed in the Henderson Industries of the Future Fund beginning 1 January 2006.

*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s product disclosure statement available under the Reports & Resources section.

PLATFORM AVAILABILITY

  • AMP North
  • ANZ Grow Wrap
  • Asgard eWrap
  • BT Panorama
  • BT Wrap
  • Centric
  • CFS FirstWrap
  • FNZ
  • HUB24
  • IOOF
  • Macquarie Wrap – IDPS
  • MLC Wrap
  • Netwealth
  • Mason Stevens
  • OneVue
  • Praemium
  • Powerwrap
  • uXchange
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RATINGS

RATINGS

*Lonsec rating issued 04/2025 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2021 Lonsec. All rights reserved.

**The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned November 2025) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines 

 

 

Lonsec Recommended Rating

Zenith Recommended Rating

Certified by RIAA

Pengana Capital Group

WHEB Asset Management

Highest Sustainability Score - Lonsec Research

1st Quartile - ERIG Index

2022 Best Ethical Overseas Fund - Mindful Money Awards (NZ)

2023 Best Ethical Overseas Fund - Mindful Money Awards (NZ)

The Pengana WHEB Sustainable Impact Fund has been certified by RIAA according to the strict operational and disclosure practices required under the Responsible Investment Certification Program. See www.responsiblereturns.com.au for details.

RIAA’s RI Certification Symbol signifies that a product or service offers an investment style that takes into account environmental, social, governance, or ethical considerations. The Symbol also signifies that the Pengana WHEB Sustainable Impact Fund adheres to the strict operational and disclosure practices required under the Responsible Investment Certification Program for the category of Product. The Certification Symbol is a Registered Trademark of the Responsible Investment Association Australasia (RIAA). Detailed information about RIAA, the Symbol and Pengana WHEB Sustainable Impact Fund’s methodology, performance, and stock holdings can be found at www.responsiblereturns.com.au, together with details about other responsible investment products certified by RIAA. The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold an Australian Financial Services Licence.

Evergreen Research Pty Ltd trading as ERIG Index ABN 17 647 506 590 is Authorised Representative 001289533 of Evergreen Fund Managers Pty Ltd ABN 75 602 703 202 AFSL 486275. The material is for the information purposes of non-retail clients only. It is not, and is not to be construed as, advice or a recommendation to acquire, hold or dispose of financial products or to use financial services. The ERIG Index measures only the Responsible Investment capabilities of funds. It does not assess the performance or other features of the funds.

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REPORTS AND RESOURCES

  • Monthly Reports
  • Quarterly Reports & Voting Records
  • Portfolio Holdings
  • Investment Committee Minutes
  • Sustainability Policies & External Reports
  • Impact Reports
  • Financial Reports
  • PDS, Notice & TMD
INVEST NOW

NEWS AND INSIGHTS

WHEB Sustainable Impact Fund

Energy saved is energy generated

Amory Lovins, the founder of think-tank the Rocky Mountain Institute (RMI) and adjunct professor at Stanford University, is fondly known...

November, 2025
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WHEB Sustainable Impact Fund

Verra Mobility: Enabling safer streets and cleaner air

Having recently returned from the Beloe family holiday, many readers, like me, will have encountered speed cameras on their long...

September, 2025
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WHEB Sustainable Impact Fund

WHEB Strategy Update & Impact Report Findings Webinar

Webinar Sections: Ted Franks and Seb Beloe from the Pengana WHEB Sustainable Impact Fund discuss fund performance over the past...

July, 2025
Read More