Pax Ellevate Global Women’s Index Fund Invest in Women

Index Qualification Criteria

  • Beginning Universe:  MSCI World Index
  • The Beginning Universe is ranked by applying Pax World Gender Analytics women’s leadership criteria.
  • The Beginning Universe is pared down by excluding all companies with an MSCI IVA ranking of less than B or an MSCI ESG Controversies score of less than one. Weapons and tobacco companies are also excluded.
  • Pax Ellevate Management (the Adviser) selects the number of constituents as a result of proprietary evaluation testing to determine ideal index size, resulting in the Base Universe.

The list of index securities is provided to MSCI, which then performs a calculation based on market capitalization, resulting in the Pax Global Women’s Leadership Index.*.

1 MSCI IVA ratings evaluate risks and opportunities associated with ESG factors

2 MSCI ESG Controversies research allows institutional investors to determine how well companies adhere to international norms and principles.

*A custom index based on MSCI World. 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.