AUM
$894,789,930
Holdings
419
Launch Date
October 1993
Launch Date (Institutional)
April 2006
Portfolio Managers
Scott LaBreche
Barbara Browning, CFA®
Morningstar Low Carbon Designation™

Overview

Investing in companies that invest in women.

Invest in Women

The strategy is the first broadly diversified mutual fund that invests in the highest-rated companies in the world for advancing women through gender-diverse boards, senior leadership teams and other policies and practices.

Diversity Advantage

Research indicates that companies with more women in leadership have higher returns on capital, greater innovation, increased productivity and higher employee retention and satisfaction.

Impact & ESG

The strategy invests in companies that value women’s leadership and advances gender equality through engagement and advocacy. Additionally, the strategy meets key ESG standards and is fossil fuel free.

Monthly Total Returns

(As of 05/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Reorganization1
Pax Ellevate Global Women’s Leadership Fund – Investor Class1.7510.3710.8836.7113.7313.539.5010.00
Pax Ellevate Global Women’s Leadership Fund – Institutional Class1.7710.4410.9837.0614.0113.829.7710.27
Impax Global Women’s Leadership (Net) Index1.6010.3611.6137.5614.5814.0510.67
MSCI World (Net) Index1.449.6911.3940.6314.4114.2310.3110.22
Lipper Global Multi-Cap Core Funds Index1.719.1912.7245.3413.0613.469.749.41

Quarterly Total Returns

(As of 03/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Reorganization1
Pax Ellevate Global Women’s Leadership Fund – Investor Class3.714.194.1950.4011.9212.338.869.24
Pax Ellevate Global Women’s Leadership Fund – Institutional Class3.754.264.2650.8012.2012.619.139.52
Impax Global Women’s Leadership (Net) Index3.234.404.4047.9112.6912.849.84
MSCI World (Net) Index3.334.924.9254.0312.8113.369.889.49
Lipper Global Multi-Cap Core Funds Index4.087.447.4459.7611.5512.769.468.88

10 year performance data pre-dates fund reorganization.

Performance data quoted represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Risk Statistics

(As of 05/31/2021)
 5-Year
Standard Deviation 14.45
Alpha -0.03
Beta 0.98
R-Squared 98
Standard Deviation 14.47
Alpha -0.01
Beta 0.98
R-Squared 98

Morningstar Ratings

(As of 05/31/2021)
 World Large StockOverall3yrs5yrs10yrs
Pax Ellevate Global Women’s Leadership Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★★
Pax Ellevate Global Women’s Leadership Fund – Institutional Class Rating ★★★ ★★★ ★★★ ★★★
  # In Peer Group 277 277 236 142
Based on risk adjusted returns.

Lipper Rankings

(As of 05/31/2021)
 Global Multi-Cap Core1yr3yrs5yrs10yrs
Pax Ellevate Global Women’s Leadership Fund – Investor Class Percentile Rank 83 29 40 43
  Prime Rank 124 33 38 29
  # In Peer Group 151 117 96 69
Pax Ellevate Global Women’s Leadership Fund – Institutional Class Percentile Rank 80 19 34 35
  Prime Rank 120 22 32 24
  # In Peer Group 151 117 96 69
Based on total returns.

Net Asset Values

(As of 06/18/2021)
 N.A.V.% Change
Pax Ellevate Global Women’s Leadership Fund – Investor Class $33.36 -1.24
Pax Ellevate Global Women’s Leadership Fund – Institutional Class $33.57 -1.26
Past performance does not guarantee future results.

Asset Allocation

(As of 05/31/2021)

Portfolio Statistics

(As of 05/31/2021)
Value
Assets (all share classes)$894,789,930
Number of Holdings (All) 419
Turnover Ratio (12/31/2020)§ 69

Regions

(As of 05/31/2021)

Country Allocation

(As of 05/31/2021)
 Portfolio %
United States 65.10
France 9.20
Canada 5.10
United Kingdom 3.70
Netherlands 3.40
Australia 3.00
Germany 2.60
Sweden 1.70
Denmark 0.80
Norway 0.70
Switzerland 0.30
Spain 0.30
Italy 0.30
Finland 0.20
Hong Kong 0.20
Belgium 0.10
Singapore 0.10
Japan 0.10
New Zealand 0.10
Israel 0.10

Top Sectors

(As of 05/31/2021)

Top Ten Holdings

(As of 05/31/2021)

Impax Gender Analytics Team

Julie Gorte Ph.D., Senior Vice President for Sustainable Investing, and Heather Smith, Lead Sustainability Research Analyst, lead the team that rates and ranks companies to construct the Impax Global Women’s Leadership Index.

Portfolio Management Team

Scott LaBreche

Vice President & Portfolio Manager

Scott LaBreche is Vice President and Portfolio Manager at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds.

Scott is a Portfolio Manager of the Global Women’s Leadership Strategy, which includes the Pax Ellevate Global Women’s Leadership Fund. He is also a Portfolio Manager of the Pax International Sustainable Economy Fund, the Pax Global Sustainable Infrastructure Fund and the Pax U.S. Sustainable Economy Fund.

He is responsible for portfolio management of systematic strategies, portfolio analytics and risk oversight, and quantitative ESG research.

Before joining Impax in 2007, Scott was a Securities Fund Analyst at Lincoln Financial Group. He has been in the investment management industry since 1999.

Scott holds a Bachelor of Science in business administration and a Master of Business Administration with advanced certificate in finance from Southern New Hampshire University.

Recent blog posts

Barbara Browning, Pax World Funds

Barbara Browning, CFA®

Vice President, Portfolio Manager

Barbara Browning is Vice President at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds.

She is a Portfolio Manager of the Gender Lens Strategies, which include the Pax Ellevate Global Women’s Leadership Fund. Barbara is also co-portfolio manager of the U.S. Large Cap Strategy, which includes the Pax Large Cap Fund.

Prior to joining the firm in 2017, Barbara was Vice President and Senior Portfolio Manager at RBC Global Asset Management, Inc., where she co-managed Diversified Core, Concentrated Core and Diversified Large Cap Value Equity funds. Prior to that, Barbara was a Senior Portfolio Manager and Investment Officer at National City Bank, a Senior Research Analyst at Banc One Investment Advisors Corporation and held various equity research positions.

Barbara has a Bachelor of Arts in economics from The Ohio State University, where she graduated cum laude. She is also a CFA® charterholder.

Recent blog posts

Contact Us

Please visit the contact page to find your regional representative.

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