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

Featured video

Events

AXA's Day: Why annuities are returning to favor

Advisers are using annuities more than ever to help drive retirement income. Graham Day of AXA explains why and what's to come for this solution.

Latest news & opinion

Merrill Lynch fined $42 million for misleading customers

In addition to the practice of 'masking' trades, the wirehouse went to extremes to cover up the wrongdoing.

Advisers with billions in AUM leaving Wall Street

Merrill Lynch has seen two teams exit recently, each with more than $4 billion in client assets.

Wells Fargo weighs changes to wealth unit

The move would reflect the bank's effort to cut $4 billion in costs.

Small broker-dealers seek legislative relief from annual audits

Bills introduced in House, Senate would remove PCAOB requirement.

Meet our new 40 Under 40s

For a fifth year, InvestmentNews is proud to shine a spotlight on the amazing accomplishments and potential of top young financial professionals.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print