PORTSMOUTH, N.H., November 30, 2020 – Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds, today announced the results of the November 2020 annual reconstitution of the Impax Global Women’s Leadership Index (the Index).

The Impax Global Women’s Leadership Index is the first index consisting of the highest-rated companies in the world for advancing women. Impax Gender Analytics rates companies on several factors: representation of women on the board of directors; representation of women in executive management; hiring, promotion and retention of women; transparency about gender diversity data; gender pay equity; the presence of proactive gender goals and targets; and whether they are signatories to the UN Women’s Empowerment Principles.* Companies in the Index also meet threshold environmental, social and governance (ESG) standards, and the Index excludes weapons, tobacco and fossil fuel companies.

The Index compares favorably to the MSCI World Index† on several key gender leadership indicators. For example, among Index companies, women hold 39 percent of board seats and 31 percent of senior management positions, as compared to 26 percent and 18 percent1, respectively, for companies in the MSCI World Index. Ninety-four percent of companies in the Index have three or more women on the board, compared with 57 percent for companies in the MSCI World Index. Thirty-five percent of companies in the Index have a woman CEO or CFO, compared with 16 percent of companies in the MSCI World Index.

A comprehensive list of the changes to the Index, including additions and deletions, has been posted to the Impax Asset Management website. Eighty-eight securities will be added to the Index and 58 will be deleted as a result of the annual reconstitution.

About Impax Asset Management

Impax Asset Management LLC, adviser to the Pax World Funds, is the North American division of Impax Asset Management Group, a specialist asset manager with approximately $19.4 billion in both listed and real asset strategies that focuses on the risks and opportunities arising from the transition to a more sustainable global economy. Impax believes that capital markets will be shaped profoundly by global sustainability challenges and that these trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt. The firm offers a suite of sustainable investment solutions across multiple asset classes, all of which seek to catalyze the transition to a more sustainable economy. Impax Asset Management LLC, formerly Pax World Management, helped create an industry when it launched the first sustainable mutual fund in the United States in 1971.

1MSCI World Index, Impax Gender Analytics, 2020

The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. One cannot invest directly in an index.

*A joint initiative of the UN Global Compact and UN Women

Impax Asset Management LLC, formerly Pax World Management LLC, is investment adviser to Pax World Funds.

You should always consider Pax World Funds’ investment objectives, risks, and charges and expenses carefully before investing. For this and other important information, please download a fund prospectus. Please read it carefully before investing.

Investments involve risk, including potential loss of principal.

The statements and opinions expressed in media mentions are of the authors and as of the date of publication.

© 2020 Impax Asset Management LLC. All rights reserved.

Pax World Funds are distributed by ALPS Distributors, Inc. ALPS Distributors is not affiliated with Impax Asset Management LLC.


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