On 6/4/2014, the Pax World Global Women’s Equality Fund merged into the Pax Ellevate Global Women’s Index Fund (the Fund), pursuant to an Agreement and Plan of Reorganization dated May 28, 2014 (the “Reorganization”). Because the Fund had no investment operations prior to the closing of the Reorganization, Pax World Global Women’s Equality Fund (the “Predecessor Fund”) is treated as the survivor of the Reorganization for accounting and performance reporting purposes. Accordingly, all performance and other information shown for the Fund for periods prior to 6/4/2014 is that of the Predecessor Fund.
All data as of 01/31/2017
|Assets (all share classes)||$115,475,192|
|Number of Holdings (All)||415|
|Turnover Ratio* (12/31/15)||50|
*To manage cash flows, minimize trading costs and equitize cash balances in between trading blocks of securities, the Global Women’s Index Fund utilizes one or more exchange-traded funds (ETFs), the combination of which is intended to track the Fund’s broad-based benchmark. These investments are frequent and short-term, however, the Fund is required to include such ETF investment activity in the calculation of its portfolio turnover. Had such transactions been excluded, the portfolio turnover would have been 25% for the year ended December 31, 2015.
(Since re-org - June 2014)
|Country Allocation||Portfolio %|
|Top Ten Holdings||Portfolio %|
|Facebook, Inc., Class A||2.00|
|NIKE, Inc., Class B||1.90|
|Johnson & Johnson||1.80|
|American Water Works Co., Inc.||1.70|
|Procter & Gamble Co.||1.50|
Holdings are subject to change. Excludes affiliated investments.
Equity investments are subject to market fluctuations, the fund’s share price can fall because of weakness in the broad market, a particular industry, or specific holdings.
*A custom index calculated by MSCI. One cannot invest directly in an index.
RISKS: Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected; the Fund’s portfolio management practices may not achieve the desired result. The Fund does not take defensive positions in declining markets. Accordingly, the Fund’s performance would likely be adversely affected by a decline in the Index. Investments in emerging markets and non-US Securities are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation, intervention and political developments. As this Fund can have a high concentration in some issuers the Fund can be adversely impacted by changes affecting issuers. There is no guarantee that the objective will be met and diversification does not eliminate risk.