AUM
$604,852,890
Holdings
306
Portfolio Manager
Scott LaBreche
Launch Date
March 2014
Launch Date (Institutional)
January 2011
Morningstar Low Carbon Designation™

Overview

An index-based strategy that tracks the performance of the MSCI EAFE ESG Leaders Index, consisting of equity securities with favorable ESG ratings in developed markets excluding the U.S. and Canada.

ESG Leaders

The MSCI EAFE ESG Leaders Index is constructed to provide higher exposure to companies with favorable ESG ratings relative to their sector and industry peers, as determined by MSCI.

Developed Markets

The strategy seeks to closely correspond to the sector and regional diversification of the MSCI EAFE Index, which consists of 21 developed market country indices.

Powered by SmartCarbon™

The strategy is fossil fuel free, utilizing a SmartCarbon1 approach that substitutes energy efficiency companies in place of fossil fuel companies to reduce climate change-related risks and participate in the low carbon energy transition.

Monthly Total Returns

(As of 08/31/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class4.4210.40-2.239.763.094.784.26
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class4.5110.49-2.0510.123.355.044.53
MSCI EAFE ESG Leaders (Net) Index7.4616.55-2.047.793.453.844.96
MSCI EAFE (Net) Index5.1411.26-4.616.132.344.724.03
Lipper International Large-Cap Core Funds Index4.679.83-8.542.52-0.313.323.02

Quarterly Total Returns

(As of 06/30/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class3.7016.69-8.16-0.731.872.253.65
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class3.7716.74-8.01-0.502.152.513.92
MSCI EAFE ESG Leaders (Net) Index3.5815.40-8.84-1.162.092.834.26
MSCI EAFE (Net) Index3.4014.88-11.34-5.130.812.053.30
Lipper International Large-Cap Core Funds Index2.1814.56-14.91-8.51-1.700.432.29
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 08/31/2020)
 5 – Year
Standard Deviation 13.48
Alpha 0.02
Beta 0.94
R-Squared 97
Standard Deviation 13.51
Alpha 0.05
Beta 0.94
R-Squared 96

Morningstar Ratings

(As of 08/31/2020)
 Foreign Large BlendOverall3yrs5yrs10yrs
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class Rating ★★★ ★★★★ ★★★
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class Rating ★★★ ★★★★ ★★★
  # In Peer Group 643 643 534
Based on risk adjusted returns.

Lipper Rankings

(As of 08/31/2020)
 International Large-Cap Core1yr3yrs5yrs10yrs
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class Percentile Rank 25 13 25
  Prime Rank 27 11 21
  # In Peer Group 110 91 85
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class Percentile Rank 23 10 17
  Prime Rank 25 9 14
  # In Peer Group 110 91 85
Based on total returns.

Net Asset Values

(As of 09/25/2020)
 N.A.V.% Change
Pax MSCI EAFE ESG Leaders Index Fund – Investor Class $8.96 0.22
Pax MSCI EAFE ESG Leaders Index Fund – Institutional Class $8.78 0.11
Past performance does not guarantee future results.

Asset Allocation

(As of 08/31/2020)

Portfolio Statistics

(As of 03/31/2020)
Value
Assets (all share classes)$604,852,890
Number of Holdings (All) 306
Turnover Ratio (12/31/2019)§ 31

Regions

(As of 08/31/2020)

Country Allocation

(As of 08/31/2020)
 Portfolio %
Australia 6.90
Austria 0.50
Belgium 0.70
Denmark 3.70
Finland 0.90
France 10.10
Germany 10.30
Hong Kong 1.90
Ireland 0.80
Israel 0.20
Italy 1.90
Japan 25.60
Netherlands 7.00
New Zealand 0.50
Norway 0.70
Portugal 0.40
Singapore 1.30
Spain 2.50
Sweden 3.30
Switzerland 9.00
United Kingdom 11.00

Top Sectors

(As of 08/31/2020)

Top Ten Holdings

(As of 08/31/2020)

Portfolio Management

Scott LaBreche

Director, Portfolio Analytics & Index Strategy Optimization

Scott LaBreche is Director, Portfolio Analytics & Index Strategy Optimization at Impax Asset Management LLC, formerly Pax World Management LLC, and a Portfolio Manager of the Pax Ellevate Global Women’s Leadership Fund and the Pax MSCI EAFE ESG Leaders Index Fund.

Scott LaBreche is Director, Portfolio Analytics & Index Strategy Optimization at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds. He is responsible for fund research, quantitative ESG research, advanced analytics, risk oversight, fund optimization and board reporting, as well as overseeing performance and attribution across U.S.-managed strategies.

Scott is also a Portfolio Manager of the Global Women’s Leadership Strategy, which includes the Pax Ellevate Global Women’s Leadership Fund, and is a Portfolio Manager of the Pax MSCI EAFE ESG Leaders Index Fund.

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.

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