AUM
$272,076,656
Holdings
201
Launch Date
June 1997
Launch Date
(Institutional Class)
April 2007
Portfolio Managers
Scott LaBreche
Andrew Braun
Morningstar Low Carbon Designation™

Overview

A systematic strategy investing in U.S. large cap companies we believe are positioned to benefit from the transition to a more sustainable economy.

Sustainability Lens

The strategy integrates the Impax Sustainability Lens, a proprietary tool that weights the portfolio toward subsectors we believe offer attractive opportunities and lower risk associated with the transition to a more sustainable economy.

ESG Quality

Constructed to provide higher exposure to companies with favorable ESG ratings, as identified by the Impax Sustainability Score, a proprietary rating of a company’s ESG profile.

SmartCarbon™

The strategy is fossil fuel free, utilizing SmartCarbon, a proprietary tool that replaces energy sector holdings with energy efficiency stocks to reduce climate-related risks and invest in the growing demand for energy efficiency solutions.

Monthly Total Returns

(As of 03/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class4.377.367.3653.1614.2813.8511.21
Pax U.S. Sustainable Economy Fund – Class A54.357.347.3453.1314.2813.8511.22
Pax U.S. Sustainable Economy Fund – Institutional Class4.407.427.4253.5114.5514.1311.49
Russell 1000 Index3.785.915.9160.5917.3116.6613.97
Lipper Multi-Cap Core Funds Index6.108.798.7968.1816.6116.0812.50

Quarterly Total Returns

(As of 03/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class4.377.367.3653.1614.2813.8511.21
Pax U.S. Sustainable Economy Fund – Class A54.357.347.3453.1314.2813.8511.22
Pax U.S. Sustainable Economy Fund – Institutional Class4.407.427.4253.5114.5514.1311.49
Russell 1000 Index3.785.915.9160.5917.3116.6613.97
Lipper Multi-Cap Core Funds Index6.108.798.7968.1816.6116.0812.50
5 Class A Inception date return since May 1, 2013 is 13.13 (annualized).
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.
The performance information shown for Class A represents the performance of the Individual Investor Class shares for the period prior to Class A inception.
A 1.00% CDSC (contingent deferred sales charge) may be charged on any shares sold within 18 months of purchase over $1 million. POP (public offering price) reflects the maximum sales load for the Fund’s Class A Shares of 5.50%

Performance after Sales Charge

(As of 03/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Class A (Load)-1.391.431.4344.6912.1512.5710.59

Performance after Sales Charge

(As of 03/31/2021)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Class A (Load)-1.391.431.4344.6912.1512.5710.59

Risk Statistics

(As of 03/31/2021)
 3 – Year
Standard Deviation 17.25
Alpha -0.11
Beta 0.92
R-Squared 99
Standard Deviation 17.22
Alpha -0.11
Beta 0.91
R-Squared 99
Standard Deviation 17.23
Alpha -0.09
Beta 0.91
R-Squared 99

Morningstar Ratings

(As of 03/31/2021)
 Large BlendOverall3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class Rating ★★★ ★★★ ★★★ ★★
Pax U.S. Sustainable Economy Fund – Class A Rating ★★★ ★★★ ★★★ ★★
Pax U.S. Sustainable Economy Fund – Institutional Class Rating ★★★ ★★★ ★★★ ★★
  # In Peer Group 1225 1225 1068 809
Based on risk adjusted returns.

Lipper Rankings

(As of 03/31/2021)
 Multi-Cap Core1yr3yrs5yrs10yrs
Pax U.S. Sustainable Economy Fund – Investor Class Percentile Rank 75 51 64 72
  Prime Rank 489 301 336 274
  # In Peer Group 658 595 527 384
Pax U.S. Sustainable Economy Fund – Class A Percentile Rank 75 51 65 72
  Prime Rank 491 303 338 273
  # In Peer Group 658 595 527 384
Pax U.S. Sustainable Economy Fund – Institutional Class Percentile Rank 74 48 60 66
  Prime Rank 481 284 312 251
  # In Peer Group 658 595 527 384
Based on total returns.

Net Asset Values

(As of 04/13/2021)
 N.A.V.% Change
Pax U.S. Sustainable Economy Fund – Investor Class $26.56 0.23
Pax U.S. Sustainable Economy Fund – Institutional Class $27.41 0.22
Pax U.S. Sustainable Economy Fund – Class A $26.48 0.23
Past performance does not guarantee future results.

Asset Allocation

(As of 03/31/2021)

Portfolio Statistics

(As of 03/31/2021)
 Value
Assets (all share classes)$272,076,656
Number of Holdings (All)201
Turnover Ratio (12/31/2020)65

Top Sectors

(As of 03/31/2021)

Top Ten Holdings

(As of 03/31/2021)

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

Andrew Braun, Pax World Funds

Andrew Braun

Senior Vice President, Portfolio Manager

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

He is Portfolio Manager of the U.S. Large Cap Strategy, which includes the Pax Large Cap Fund. He is also a member of the Pax Sustainable Allocation Fund portfolio management team, and a Portfolio Manager of the Pax Global Sustainable Infrastructure Fund and the Pax U.S. Sustainable Economy Fund.

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 College and a Master of Business Administration in finance and economics from the Stern School of Business at New York University.

Recent blog posts

Contact Us

Please visit the contact page to find your regional representative.

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