Pax MSCI International
ESG Index Fund
Inception Date: March 31, 2014
Type of Fund: International
Symbol: PXINX
CUSIP: 704223759
Minimum Investment: $1000
Sales Charge: None, 12b-1: 0.25%
Expense RatioMore info
(03/28/2014):
0.80%
Expense Ratio

The management fee is a unified fee that includes all of the costs and expenses of the Fund (other than taxes, charges of governmental agencies, interest, brokerage commissions incurred in connection with portfolio transactions, distribution and/or service fees payable under a plan pursuant to Rule 12b-1 under the 1940 Act and extraordinary expenses), including accounting expenses, administrator, transfer agent and custodian fees, Fund legal fees and other expenses.

Inception Date: January 27, 2011
Type of Fund: International
Symbol: PXNIX
CUSIP: 704223742
Minimum Investment: $250,000
Sales Charge: None, 12b-1: 0.00%
Expense RatioMore info
(03/28/2014):
0.55%
Inception Date: March 31, 2014
Type of Fund: International
Symbol: PXIRX
CUSIP: 704223734
Minimum Investment: No Minimum
Sales Charge: None, 12b-1: 0.50%
Expense RatioMore info
(03/28/2014):
1.05%

The Fund is a passively-managed equity fund that seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of the MSCI EAFE ESG Index.

MSCI EAFE ESG Index has outperformed the MSCI EAFE Index over time

The MSCI EAFE ESG Index has outperformed the MSCI EAFE Index by 2.93% from 10/1/07 to 12/31/2013. Past performance is no guarantee of future results. Index performance is not necessarily representative of fund performance; one cannot invest directly in an index.

Strategy:

About MSCI ESG Research Methodology


MSCI’s ESG research framework generates an analysis and rating of each company’s management of its environmental, social and governance performance. The rating criteria address a company’s ESG performance in the context of five categories, covering key corporate stakeholders. The categories are: 1) environment, 2) community and society, 3) employees and supply chain, 4) customers – including the quality and safety record of a company’s products, and 5) governance and ethics. MSCI applies its proprietary ESG rating framework to each company by selecting the ESG rating criteria most relevant to each firm. To evaluate a company, analysts review more than 500 data points and score more than 100 indicators.

 

On 3/31/2014 Pax World International Fund and Pax MSCI EAFE ESG Index ETF merged into the Pax MSCI International ESG Index Fund (the Fund), a passively managed index fund which seeks investment returns that closely correspond to the price and yield performance, before fees and expenses, of the MSCI EAFE ESG Index. Based on the similarity of the Fund to Pax MSCI EAFE ESG Index ETF, Pax MSCI EAFE ESG Index ETF (the Predecessor Fund) is treated as the survivor of the mergers for accounting and performance reporting purposes. Accordingly, all performance and other information shown for the Fund for periods prior to 3/31/2014 is that of the Predecessor Fund.

About the Indexes

The MSCI EAFE ESG Index is designed to measure the performance of equity securities of issuers of developed countries around the world excluding the U.S. and Canada that have high Environmental, Social and Governance (ESG) ratings relative to their sector and industry peers, as rated by MSCI ESG Research annually.

The MSCI EAFE (Europe, Australasia, Far East) Index is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. Performance for the MSCI EAFE Index is shown “net”, which includes dividend reinvestments after deduction of foreign withholding tax. Investors cannot invest directly in any index.

Source: MSCI

MSCI is not affiliated with ALPS Distributors, Inc.