MarketWatch reporter Meredith Jones gives readers tips on aligning their investments with their values, pointing to the Pax Balanced Fund as an option.
PAX008358 (1/19)As of 9/30/18 the returns for the Pax Balanced Fund Investor Class (PAXWX) were: 1 year: 8.40%, 3 year: 9.27, 5 year: 7.17%, 10 year: 6.80%, Since Inception (08/10/1971): 8.32%. As of 9/30/18 the returns for the Pax Balanced Fund Institutional (PAXIX) were: 1 year: 8.73%, 3 year: 9.55, 5 year: 7.44%, 10 year: 7.06%, Since Inception (06/2/2007): 8.39%. As of 9/30/18 the returns for the 60% S&P 500 Index / 40% Bloomberg Barclays U.S. Aggregate Bond Index were: 1 year: 8.40%, 3 year: 9.27%, 5 year: 7.17%, 10 year: 6.80%. As of 9/30/18 the returns for the Morningstar Allocation–50% to 70% Equity were: 1 year: 6.75%, 3 year: 8.80%, 5 year: 6.67, 10 year: 7.58%.
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.
RISKS:Equity investments are subject to market fluctuations, a 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. Investments in high yield bonds generally are subjected to greater price volatility based on fluctuations in issuer and credit quality. When investing in bonds, you are subject, but not limited to, the same interest rate, inflation and credit risks associated with the underlying bonds owned by the Fund. Mortgage-related securities tend to become more sensitive to interest rate changes as interest rates rise, increasing their volatility. Funds that emphasize investments in mid-size and smaller companies generally will experience greater price volatility. Investing in non-diversified funds generally will be more volatile and loss of principal could be greater than investing in more diversified funds.
As of the 5/1/2018 prospectus, the Pax Balanced Fund All-In Gross expense ratio includes indirect expenses (Acquired Fund Fees and Expenses “AFFE”) of 0.61%. AFFE are fees and expenses charged by their investment companies in which the Fund invests a portion of its assets and are not direct costs paid by Fund shareholders. The All-In Gross expense ratio for Institutional Class and the Individual Investor Class shares are 0.66% and 0.91%, respectively. Pax Balanced Fund expense ratios, excluding indirect AFFE, are 0.05% and 0.30% for Institutional Class and Individual Investor Class shares, respectively. The management fee is a unified fee that includes all of the operating costs and expenses of the Fund (other than taxes, charges of governmental agencies, interest, brokerage commissions incurred in connection with portfolio transactions, distribution and/or service fees payable under a plan pursuant to Rule 12b-1 under the Investment Company Act of 1940 and extraordinary expenses), including accounting expenses, administrator, transfer agent and custodian fees, Fund legal fees and other expenses. (For this purpose, Impax Asset Management LLC does not consider acquired fund fees and expenses to be operating costs and expenses of the Fund.)