The Pax Ellevate Global Women’s Index Fund seeks investment returns that closely correspond to or exceed the performance of the Pax Global Women’s Leadership Index*, an index of companies around the world that are leaders in advancing women through gender diversity on their boards of directors and in management, and through other policies and programs. Ninety-nine percent of the companies in the Fund have two or more women on their board of directors. Further, 33% of board seats and 26% of executive management positions are held by women, compared to global averages of 15% and 16%, respectively.
Following are some of the companies in the Index, and the Fund, and examples of ways in which they are embracing gender diversity and women’s leadership.
Aetna Inc. is a diversified health care benefits company that provides healthcare and related benefits, serving health care members, dental members, and group insurance customers.
KeyCorp is one of the nation’s largest bank-based financial services companies. KeyCorp companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the U.S.
Coca-Cola Enterprises Inc. markets, sells, manufactures, and distributes non-alcoholic beverages including sparkling waters, juices, isotonics, teas, and sodas. Coca-Cola Enterprises operates internationally.
The Toronto-Dominion Bank conducts a general banking business through banking branches and offices located throughout Canada and overseas.
Kellogg Company manufactures and markets ready-to-eat cereal and other convenience foods.
The Estee Lauder Companies Inc. manufactures and markets a wide range of skin care, makeup, fragrance, and hair care products. The company's products are sold in countries and territories around the world.
*A custom index based on MSCI World. One cannot invest directly in an index.
Pax Ellevate Global Women's Index Fund Top Ten Holdings as of 04/30/2016:
Johnson & Johnson 1.90; Yahoo!, Inc. 1.90; Microsoft Corp. 1.80; Coca-Cola Enterprises, Inc. 1.80; Estee Lauder Cos, Inc., Class A 1.80; Procter & Gamble Co. 1.70; Kellogg Co. 1.70; Aetna, Inc. 1.70; Wells Fargo & Co. 1.60; Facebook, Inc., Class A 1.50;
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.