A fundamental-driven strategy focused on research-intensive credit selection and portfolio risk management.


Focused on companies with either stable profits and manageable debt loads, or growing businesses with improving credit profiles.

Risk Management

The team has a primary focus on the higher quality tiers of the high yield market and builds a diversified portfolio with strict limitations on position sizes.


ESG analysis provides additional fundamental insight which contributes to risk management.

Investment Vehicles

Pax High Yield Bond Fund

ESG high yield investing with a quality focus.

Morningstar LogoMorningstar Four Stars
Overall Morningstar™ Rating Institutional Class (PXHIX) as of 4/30/2020.
Out of 631 High Yield Bond Funds based on risk-adjusted returns.

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