Pax World relaunches Women's Equity Fund with higher standards

Firm is also launching its first ETFs, including two on Wednesday

May 24, 2010 @ 3:58 pm

By Jessica Toonkel Marquez

Pax World Management LLC has reconfigured and relaunched its Women's Equity Fund, making it more global and imposing higher standards.

The Global Women's Equality Fund Ticker:(PXWEX) seeks to invest in the best companies for women, rather than just screen out those companies that don't meet certain criteria, said Joe Keefe, Pax's chief executive said.

“We think there is a market of high-net-worth women who care about these issues, and we thought it was better to have a fund that invests in the leaders rather than one that just tries to avoid the laggards,” he said.

The fund became available May 1.

Additionally, Pax is launching its first exchange-traded funds.

Last Wednesday, the firm launched the ESG Shares North America Sustainability Index ETF (NASI), and it will roll out the ESG Shares FTSE Environmental Technologies Index ETF (ETFY) and the ESG Shares Europe Asia Pacific Sustainability Index ETF (EAPS) this week.

The firm will see how these ETFs do in terms of bringing in assets before filing for additional ETFs, but it is looking at possibilities in the fixed-income and the emerging-markets areas, Mr. Keefe said.

“For a fixed-income ETF, we would first need someone to develop a sustainable investing index,” he said.

The company plans to wait until next year before it decides if it wants to launch additional ETFs.

Pax, which has $2.4 billion in assets, has been on a product development frenzy the past several months. During the past two and a half years, the firm has launched 11 funds.

Pax is discussing filling holes in its product line with additional fixed-income and emerging-markets mutual fund launches, though no timetable for the launches has been set, Mr. Keefe said.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

The Fuse impact: The judges weigh in

When vying for top honors at Fuse, it all comes down to a panel of judges. Hear directly from them on what they're looking for in finalists, and what gets them excited about this event every year.

Video Spotlight

Are Your Clients Prepared For Market Downturns?

Sponsored by Prudential

Video Spotlight

Path to growth

Video Spotlight

Path to growth

Latest news & opinion

Hackers may have profited from SEC breach

The hack of the agency's Edgar filing system occurred in 2016, but the regulator didn't conclude until last month that the cybercriminals may have used their bounty to make illicit trades.

Top 10 financial firms ranked by investor satisfaction

Find out which firm took the top slot for overall investor satisfaction for the second year in a row.

What not to say to clients when the markets drop

Here's what advisers should steer clear of saying the next time stocks turn downward.

SEC bars former rep for alleged share price manipulation

George Thoreson tried to keep penny stock's price high to enable Nasdaq listing.

Nevada fiduciary law raises concerns among retirement professionals, brokerage industry

Critics complain that it conflicts with ERISA and SEC rules and has potential to spur other states to pass their own version of a fiduciary rule.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print