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Friday, November 20, 2009
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Pax to launch socially conscious ETFs
Pax World Funds plans to launch what it says are the first socially conscious exchange traded funds.
Pax, based in Portsmouth, N.H., plans to list three ETFs on NYSE Arca, a division of New York-based NYSE Euronext, according to a Securities and Exchange Commission filing last week. The funds are the sShares FTSE Environmental Technologies Index ETF, the sShares KLD Europe Asia Pacific Sustainability Index ETF and the sShares KLD North America Sustainability Index ETF. The KLD Europe Asia Pacific Index and the KLD North American Sustainability Index will comprise companies that have high environmental, social and governance rankings as determined by Boston-based KLD Research and Analytics Inc. The FTSE ET50 Index will comprise 50 of the largest environmental technology companies globally in sectors such as alternative energy, water treatment, pollution control and waste management.
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