Socially responsible mutual funds keep popping up. On Monday Pax World Management Corp.revealed three new SRI funds: Pax World Global Green Fund, Pax World Small Cap Fund and Pax World International Funds.
Company Press Release
March 31, 2008 12:17 PM Eastern Daylight Time
Pax World Launches Three New Funds
Leader in Sustainable Investing launches Global Green, Small Cap, and International funds
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Pax World Management Corp., investment adviser to Pax World Funds (“Pax”), which launched the nation’s first socially responsible mutual fund in 1971, today announced that it has launched three new mutual funds: Pax World Global Green Fund, Pax World Small Cap Fund, and Pax World International Fund.
With these new funds, Pax also adds three new portfolio managers from well-respected financial institutions to its investment management team. As with all Pax World funds, the new funds will integrate environmental, social and governance (ESG) criteria into the investment process in search of better managed, more forward-thinking companies.
“There is a growing demand for investment options that integrate sustainability concerns into financial analysis and decision making,” said Pax World President & CEO Joe Keefe. “With the addition of these three funds, Pax World now offers investors a choice of eight different mutual funds in a range of asset classes following a sustainable investing model.”
The Pax World Global Green Fund invests in environmental leaders around the globe, across sectors and market capitalizations, and seeks to take advantage of the rapid expansion of environmental markets. Such environmental markets include alternative energy and energy efficiency; water treatment and pollution control; and waste technology and resource management. The Fund is sub-advised by London-based Impax Asset Management, one of the world’s leading specialist environmental asset managers. Impax CEO Ian Simm heads the team of portfolio managers and research analysts for the Pax World Global Green Fund.
The Pax World International Fund’s investment objective is to seek long-term growth of capital by investing in companies outside of the United States. The Fund is not constrained by any particular investment style or capitalization range, and may invest in growth stocks, value stocks, or both, and may be diversified across multiple sectors, industries and geographic regions. The Fund is managed by Ivka Kalus-Bystricky, who joined Pax World from State Street Global Advisors (SSgA) earlier this year. During her tenure at SSgA, she managed the International Growth Opportunities Fund and the Global Growth Opportunities Fund.
The Pax World Small Cap Fund's investment objective is to seek long-term growth of capital by investing in small companies with attractive valuations and growth prospects and strong management teams that exhibit a high degree of innovation and motivation to grow their business. The Fund is managed by Nathan Moser, CFA, who joined Pax World from Citizens Funds, a socially responsible mutual fund firm, where he was a portfolio manager and analyst.
The funds are immediately available through Pax World and will soon be available through leading brokerage platforms.
ABOUT PAX WORLD FUNDS
Pax World mutual funds, based in Portsmouth, New Hampshire, seek to invest in forward-thinking companies with sustainable business models. To identify those companies, Pax combines rigorous financial analysis with equally rigorous environmental, social and governance analysis. The result, it believes, is an increased level of scrutiny that helps it identify better-managed companies that are leaders in their industries; that meet positive standards of corporate responsibility; and that focus on the long term. Pax World avoids investing in companies that are significantly involved in the manufacture of weapons or weapons-related products, manufacture tobacco products, are involved in gambling as a main line of business, or engage in unethical business practices.
Pax World’s primary goal is to produce competitive returns for its investors. By integrating environmental, social and governance criteria – what it calls “sustainability” criteria – into its investment approach, the funds also seek to promote peace, protect the environment, advance equality and foster sustainable development.
For more information, visit www.paxworld.com
About Impax Group PLC
Impax was founded in 1994 as a specialist finance house focusing on the markets for cleaner or more efficient delivery of basic services of energy, water and waste. These markets are expanding rapidly, as business and political leaders encourage the development of cleaner products and services in response to the increasing pressures placed on the environment. Impax's dedicated team of professionals, with many years of experience in the financial and environmental sectors, is ideally placed to understand and take advantage of the investment opportunities arising from these growing markets. Acting through its wholly owned subsidiary Impax Asset Management Ltd, Impax manages or advises over US $2 billion of assets as at 28 March 2008 for institutional and private investors, across a range of listed and private equity funds. Impax is listed on the Alternative Investment Market of the London Stock Exchange.
For more information please visit: www.impax.co.uk
Before investing in a Pax World Funds, you should carefully consider the fund’s investment objectives, risks, charges and expenses. For this and other important information about the fund, please obtain a fund prospectus by calling 1-800-767-1729 or visiting www.paxworld.com. Please read it carefully before investing. Distributed by: PFPC Distributors, Inc. Member FINRA (03/08)
Contacts
Solomon McCown
Cosabeth Bullock, 617-933-5277
cbullock@solomonmccown.com
or
Solomon McCown
Ashley McCown, 617-933-5012
amccown@solomonmccown.com
or
UK CONTACT:
Carbon International
David Hopkins, +44 (0) 207 483 7202
david.hopkins@carboninternational.com
or
Carbon International
Samantha Hill, +44 (0) 207 483 7205
samantha.hill@carboninternational.com
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
