Pax World Funds launches funds

Pax World Funds launched three new funds this week. The Portsmouth, N.H.-based fund family launched Pax World Global Green Fund (PGRNX), Pax World Small Cap Fund (PXSCX) and Pax World International Fund(PXINX). As with all of the firm's funds, socially-conscious investing criteria -- including environmental, social and governance considerations — will be given priority, according to the firm. The Pax World Global Green Fund invests globally in such markets as alternative energy and energy efficiency, water treatment and pollution control and waste technology and management. The fund is sub-advised by London-based Impax Asset Management Ltd., an environmental asset manager. The Pax World International fund will invest outside of the U.S. and may invest in growth or value stocks and be diversified across sectors. The fund is managed by Ivka Kalus-Bystricky, who joined Pax World from Boston's State Street Global Advisors earlier this year. The Pax World Small Cap Fund will seek long-term growth by investing in small companies that exhibit innovation. The fund is managed by Nathan Moser, a former portfolio manager at Portsmouth, N.H.-based Citizens Funds. Pax World launched the nation's first socially conscious mutual fund in 1971, according to the firm, which has some $2.6 billion in assets under management.