The Environmental Finance Sustainable Investment Awards recognize investors who have been leaders in the field of sustainable finance. Criteria for the "best environmental fund" category include accomplishments in environment-related investments, such as clean technology, clean or alternative energy, water, food, agriculture or forestry.
The annualized returns for the Pax Global Environmental Markets Fund — Institutional Class — as of 06/30/2019 were, 1 year: 8.71%, 3 year: 11.75%, 5 year: 6.24%, 10 year: 10.10%, since inception: 6.16. The annualized returns for the Pax Global Environmental Markets Fund — Investor Class — as of 06/30/2019 were, 1 year: 8.49%, 3 year: 11.49%, 5: year 5.99%, 10 year: 9.81%, since inception 5.90. The annualized returns for the Pax Global Environmental Markets Fund — Class A shares — as of 06/30/2019 were, 1 year: 8.41%, 3 year: 11.48%, 5: year 5.98%, 10 year: 9.81%, since inception 5.90.
Total annual Pax Global Environmental Markets Fund operating expenses, gross of any fee waivers or reimbursements, for Institutional Class, Individual Investor Class and Class A shares are 0.99%, 1.24% and 1.24%, respectively, as of 5/1/2019 prospectus. The Pax Global Environmental Markets Fund’s investment adviser has contractually agreed to reimburse expenses (excluding Acquired Fund Fees and Expenses, if any) allocable to Institutional Class, Individual Investor Class and Class A shares of the Pax Global Environmental Markets Fund to the extent such expenses exceed 0.98%, 1.23% and 1.23% of the average daily net assets of the Institutional Class, Individual Investor Class and Class A shares, respectively. This reimbursement arrangement may not be amended or terminated without the approval of the Fund’s Board of Trustees before December 31, 2018.
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. For most recent month-end performance information visit www.paxworld.com.
The top 10 holdings of the Pax Global Environmental Markets Fund as of 6/30/19 are as follows: Schneider Electric SE 3.7%, Linde PLC 3.6%, Waste Management, Inc. 3.3%, Siemens AG 3.2%, Suez 3.2%, TE Connectivity, Ltd. 3.1%, Xylem, Inc. 3.1%, Danaher Corp. 2.9%, Ingersoll-Rand PLC 2.9% and American Water Works Co., Inc. 2.8%. Holdings are subject to change.
Equity investments are subject to market fluctuations, the fund's share price can fall because of weakness in the broad market, a particular industry, or specific holdings. Emerging market and international investments involve risk of capital loss from unfavorable fluctuations in currency values, differences in generally accepted accounting principles, economic or political instability in other nations or increased volatility and lower trading volume.
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