Pax World Reaches $1 Million Milestone in Shareholder Contributions to Mercy Corps
PORTSMOUTH, N.H. – October 20, 2008 – Pax World Management Corp., investment adviser to Pax World Funds, which launched the nation's first socially responsible mutual fund in 1971, today announced that through the mutual fund firm's Global Citizen Program, shareholder donations to Mercy Corps, a leading global relief and development organization, have exceeded $1 million over the past decade.
The Global Citizen Program enables Pax World Fund shareholders to earmark a portion of their dividends and/or capital gains as a contribution to Mercy Corps to support their critical work of promoting economic development and international peace and reconciliation.
"We are really pleased that our shareholders have been so generous in their support of Mercy Corps over the past 10 years," said Pax World CEO Joe Keefe. "Through these donations, Pax World Funds' shareholders have made a profound contribution to Mercy Corps' critical mission of supporting humanitarian relief efforts and sustainable development projects around the globe."
Recently, Mercy Corps staff members have been on the ground assisting survivors of the earthquake in the Sichuan Province of China and Cyclone Nargis in Myanmar. Mercy Corps is reaching out to Chinese earthquake victims, bringing much needed emergency relief as well as implementing psychosocial programs to aid in the process of long-term healing. In Myanmar, Mercy Corps is helping with medical aid, logistical support, financial resources and supporting a team of disaster-response experts. In addition to disaster relief, Mercy Corps also addresses a range of global issues, including food shortages, emergency response, the crisis in Sudan, the crisis in Gaza and climate change.
"We are extremely grateful for the support of Pax World and its funds' shareholders, and thrilled that they've reached this $1 million milestone," said Mercy Corps CEO Neal Keny-Guyer. "Whether it's been responding to the Indian Ocean Tsunami or providing micro-loans to aspiring entrepreneurs in poor countries, Pax World's support has been critical in advancing Mercy Corps' work. The Mercy Corps/Pax World partnership is a great investment in a better world."
Through the Global Citizen Program, Pax World Funds' shareholders can amplify the social benefits of their investments by supporting humanitarian relief efforts, peace and reconciliation initiatives and sustainable development projects around the globe.
To learn more about the Global Citizen Program, visit http://paxworld.com/about/global-citizen/, or to donate to Mercy Corps directly, visit http://www.mercycorps.org/.
About Mercy Corps
Mercy Corps exists to alleviate suffering, poverty and oppression by helping people build secure, productive and just communities. Mercy Corps works amid disasters, conflicts, chronic poverty and instability to unleash the potential of people who can win against nearly impossible odds. Since 1979, Mercy Corps has provided $1.5 billion in assistance to people in 106 nations. Supported by headquarters offices in North America and Europe, the agency's unified global programs employ 3,500 staff worldwide and reach nearly 16.4 million people in more than 35 countries.
The Pax World Funds' sustainable investing policies may inhibit the Funds' ability to participate in certain attractive investment opportunities that otherwise would be consistent with its investment objectives and other principal investment strategies.