AUM
$1,376,415,666
Holdings
50
Launch Date
December 2016
Portfolio Managers
Andrew Braun
Barbara Browning, CFA®
Morningstar Low Carbon Designation™
US Equity Large Cap Blend as of 07/31/22.
Based on 96% of AUM.

Overview

A core strategy that fully integrates analysis of ESG risks and opportunities and invests in a portfolio of companies we believe have strong prospects and attractive valuations.

Strong Prospects

Bottom-up stock selection focuses on identifying companies with favorable business trends, superior management, and potential catalysts that can drive stock price appreciation.

Valuation

Disciplined valuation process evaluates long-term upside potential and downside risk.

Sustainability

The strategy uses a proprietary sustainability lens and ESG research to better manage sustainability risks and identify opportunities, and is fossil fuel free.

Monthly Total Returns

(As of 08/31/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax Large Cap Fund – Investor Class-4.59-4.08-17.09-13.8814.8613.2013.43
Pax Large Cap Fund – Institutional Class-4.50-3.93-16.92-13.6115.1813.4913.71
S&P 500 Index-4.08-3.88-16.14-11.2312.3911.8212.33
Lipper Large-Cap Core Funds Index-3.93-3.82-16.23-12.2310.6610.3310.84

Quarterly Total Returns

(As of 06/30/2022)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax Large Cap Fund – Investor Class-7.21-14.61-19.79-12.2113.7413.0213.19
Pax Large Cap Fund – Institutional Class-7.13-14.57-19.68-11.9514.0413.3113.47
S&P 500 Index-8.25-16.10-19.96-10.6210.6011.3111.78
Lipper Large-Cap Core Funds Index-7.76-15.13-19.66-11.879.019.8210.35
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 08/31/2022)
 3 – Year
Standard Deviation 18.25
Alpha 0.24
Beta 0.94
R-Squared 97
Standard Deviation 18.23
Alpha 0.26
Beta 0.94
R-Squared 97

Morningstar Ratings

(As of 08/31/2022)
 Large BlendOverall3yrs5yrs10yrs
Pax Large Cap Fund – Investor Class Rating ★★★★★ ★★★★★ ★★★★★
Pax Large Cap Fund – Institutional Class Rating ★★★★★ ★★★★★ ★★★★★
  # In Peer Group 1231 1231 1111
Based on risk adjusted returns.

Lipper Rankings

(As of 08/31/2022)
 Large Cap Core1yr3yrs5yrs10yrs
Pax Large Cap Fund – Investor Class Percentile Rank 62 2 4
  Prime Rank 371 9 16
  # In Peer Group 607 545 506
Pax Large Cap Fund – Institutional Class Percentile Rank 58 1 2
  Prime Rank 350 4 10
  # In Peer Group 607 545 506
Based on total returns.

Net Asset Values

(As of 09/30/2022)
 N.A.V.% Change
Pax Large Cap Fund – Investor Class $11.03 -1.34
Pax Large Cap Fund – Institutional Class $11.08 -1.34
Past performance does not guarantee future results.

Asset Allocation

(As of 08/31/2022)

Portfolio Statistics

(As of 08/31/2022)
 Value
Assets (all share classes)$1,376,415,666
Number of Holdings (All)50
Turnover Ratio (12/31/2021)25

Top Sectors

(As of 08/31/2022)

Top Ten Holdings

(As of 08/31/2022)

Portfolio Management Team

Andrew Braun, Pax World Funds

Andrew Braun

Senior Portfolio Manager

Andrew Braun is Senior Portfolio Manager at Impax Asset Management LLC, the North American division of Impax Asset Management Group and investment adviser to Pax World Funds.

He is a Senior Portfolio Manager of the US Large Cap Strategy, which includes the Pax Large Cap Fund. He is also a member of the Pax Sustainable Allocation Fund portfolio management team.

Prior to joining the firm in 2017, Andy was Managing Director on the value equity team at Goldman Sachs Asset Management, where he led a team of 30 portfolio managers and analysts. Andy joined Goldman Sachs Asset Management as a Product Development Associate in 1993. He was promoted to Portfolio Manager in 2001 and served as Co-Chief Investment Officer from 2008 to 2014. Before Goldman Sachs, Andy was a Financial Analyst in the corporate finance division of Dillon, Read & Co. Inc.

Andy has a Bachelor of Arts in economics from Harvard University and a Master of Business Administration in finance and economics from the Stern School of Business at New York University.

Recent Insights

Barbara Browning, Pax World Funds

Barbara Browning, CFA®

Portfolio Manager

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

Barbara is a Portfolio Manager of the US 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 Insights

Contact Us

Please visit the contact page to find your regional representative.

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