Performance(as of 9/30/18)
|1-Month||Quarter||YTD||1 Year||3 Year||5 Year||10 Year||Since Inception1|
|Pax Ellevate Global Women's Index Fund - Investor Class||0.61||5.52||5.89||12.27||13.67||9.79||6.96||6.95|
|Pax Ellevate Global Women's Index Fund - Institutional Class||0.65||5.61||6.14||12.60||13.96||10.07||7.23||7.09|
|Pax Global Women's Leadership (Net) Index||0.38||5.49||5.95||11.43||13.93||--||--|
|MSCI World (Net) Index||0.56||4.98||5.43||11.24||13.54||9.28||8.56|
|Lipper Global Multi-Cap Core Funds Index||0.10||3.86||2.55||7.55||12.60||8.29||8.78|
Figures include reinvested dividends, capital gains distributions, and changes in principal value.
1The inception date for the Pax Ellevate Global Women’s Leadership Fund Institutional Class is April 19, 2006 and the Investor Class inception date is October 1, 1993.
Inception of Institutional Class shares is April 19, 2006. The performance information shown for Institutional Class shares represents the performance of the Retail Class shares of the earlier acquired Women’s Equity Fund shares for the period prior to Institutional Class inception. Expenses have not been adjusted to reflect the expenses allocable to Institutional Class shares or to reflect any differences in expenses between the earlier acquired Women’s Equity Fund and the Fund. If such expense adjustments and allocable expenses were reflected, the returns would be higher than those shown. Institutional Class inception date return since April 19, 2006 is 5.17% (annualized).
Total annual Pax Ellevate Global Women’s Leadership Fund operating expenses, gross of any fee waivers or reimbursements, for Institutional Class and Investor Class shares are 0.55% and 0.80% respectively, and 0.55% and 0.80% net of fee waivers, as of the 5/1/18 prospectus supplement. 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.) The investment adviser has contractually agreed to waive its management fees in excess of 0.55% of the Fund’s net assets through March 1, 2019. This waiver may not be modified or terminated prior to that date without the approval of the Board of Trustees.
Gender Rank Quartiles:
(as of 9/30/18)
Average Weight (%) vs. MSCI World Index
|Since Re-org (51-Months)
Cumulative Gross Relative Return (%) vs. MSCI World Index
Portfolio Characteristics(as of 9/30/18)
|Market Cap (weighted avg.)∱||$142,163M||$169,609M|
|Number of Securities||396||1,640|
(as of 9/30/18)
Microsoft Corp. 4.0%, Intuit, Inc. 2.1%, Michael Kors Holdings, Ltd. 2.0%, Wolters Kluwer NV 2.0%, Target Corp. 2.0%, Estee Lauder Cos, Inc., The, Class A 2.0%, Swedbank AB, Class A 2.0%, Canadian Utilities, Ltd., Class A 2.0%, Ulta Beauty, Inc. 2.0% and Cisco Systems, Inc. 2.0%. Holdings are subject to change.
ƒWeighted Average is an average in which each quantity to be averaged is assigned a weight. These weightings determine the relative importance of each quantity on the average.
∼Forward Price-Earnings Ratio or P/E FY1 ratio is a ratio for valuing a company that measures its current share price relative to its per-share earnings over the next 12 months.
∘Return on equity (ROE) is a ratio that provides investors insight into how efficiently a company (or more specifically, its management team) is managing the equity that shareholders have contributed to the company.
∞A historical Beta is used for Funds with greater than 2 years of performance history under the same mandate. Since Re-org Beta is used. Beta reflects the sensitivity of a Fund’s return to fluctuations in its benchmark; a beta for a benchmark is 1.00: a beta greater than 1.00 indicates above average volatility and risk.
The statements and opinions expressed are those of the author as of the date of this report. All information is historical and not indicative of future results and subject to change. This information is not a recommendation to buy or sell any security. Past performance does not guarantee future results.