AUM
$908,141,995
Holdings
47
Launch Date
December 2016
Portfolio Managers
Andrew Braun
Barbara Browning, CFA®
Morningstar Low Carbon Designation™

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 08/31/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax Large Cap Fund – Investor Class7.5317.1311.8326.5815.7715.63
Pax Large Cap Fund – Institutional Class7.5117.2611.9626.9716.0515.91
S&P 500 Index7.1915.489.7421.9414.5214.78
Lipper Large-Cap Core Funds Index6.6314.677.0018.2912.5812.95

Quarterly Total Returns

(As of 06/30/2020)
Month End | Quarter End Average Annual Returns (%)
1m3mYTD1yr3yrs5yrs10yrsSince
Inception
Pax Large Cap Fund – Investor Class2.6419.95-2.0011.3911.7112.18
Pax Large Cap Fund – Institutional Class2.7920.09-1.8511.7712.0312.47
S&P 500 Index1.9920.54-3.087.5110.7311.56
Lipper Large-Cap Core Funds Index2.2320.09-4.605.109.039.98
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)
 3 – Year
Standard Deviation 17.48
Alpha 0.09
Beta 1.00
R-Squared 98
Standard Deviation 17.43
Alpha 0.12
Beta 1.00
R-Squared 98

Morningstar Ratings

(As of 08/31/2020)
 Large BlendOverall3yrs5yrs10yrs
Pax Large Cap Fund – Investor Class Rating ★★★★★ ★★★★★
Pax Large Cap Fund – Institutional Class Rating ★★★★★ ★★★★★
  # In Peer Group 1223 1223
Based on risk adjusted returns.

Lipper Rankings

(As of 08/31/2020)
 Large Cap Core1yr3yrs5yrs10yrs
Pax Large Cap Fund – Investor Class Percentile Rank 9 12
  Prime Rank 56 69
  # In Peer Group 635 587
Pax Large Cap Fund – Institutional Class Percentile Rank 9 10
  Prime Rank 54 56
  # In Peer Group 635 587
Based on total returns.

Net Asset Values

(As of 09/25/2020)
 N.A.V.% Change
Pax Large Cap Fund – Investor Class $11.01 1.57
Pax Large Cap Fund – Institutional Class $11.05 1.66
Past performance does not guarantee future results.

Asset Allocation

(As of 08/31/2020)

Portfolio Statistics

(As of 08/31/2020)
 Value
Assets (all share classes)$908,141,995
Number of Holdings (All)47
Turnover Ratio (12/31/2019)37

Top Sectors

(As of 08/31/2020)

Top Ten Holdings

(As of 08/31/2020)

Portfolio Management Team

Andrew Braun, Pax World Funds

Andrew Braun

Senior Vice President, Portfolio Manager

Andrew Braun is a Portfolio Manager of the Pax Large Cap Fund at Impax Asset Management LLC and is a Senior Vice President at Pax World Funds. He is also a member of the portfolio management team of the Pax Sustainable Allocation Fund.

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.

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

Barbara Browning, Pax World Funds

Barbara Browning, CFA®

Vice President, Portfolio Manager

Barbara Browning, CFA is a Co-Portfolio Manager of the Pax Large Cap Fund, a Portfolio Manager of the Pax Ellevate Global Women’s Leadership Fund and a Vice President at Pax World Funds.

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

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