Performance(as of 9/30/17)
|1-Month||Quarter||YTD||1 Year||3 Year||5 Year||10 Year||Since Inception1|
|Mid Cap Fund - Individual Investor Class||1.57||2.02||9.36||12.31||-||-||-||11.98|
|Mid Cap Fund - Institutional Class||1.57||2.11||9.66||12.54||-||-||-||12.23|
|Russell Midcap Index||2.77||3.47||11.74||15.32||9.54||14.26||8.08||15.66|
|Lipper Mid-Cap Core Funds Index||3.29||3.46||9.60||15.96||8.82||13.22||7.32||16.02|
Figures include reinvested dividends, capital gains distributions, and changes in principal value.
1The inception date for the Pax Mid Cap Fund Institutional Investor Class and the Individual Investor Class is March 31, 2016.
As of 5/1/17 prospectus, total annual Pax Mid Cap Fund operating expenses, gross of any fee waivers or reimbursements (excluding Acquired Fund fees and expenses), for Individual Investor Class and Institutional Class shares are 0.90% and 1.15%, respectively.
Performance AttributionSector: Average Active Weights (%)
|Total Relative Contribution (%)|
Portfolio Characteristics(as of 9/30/17)
|Market Cap (weighted avg.)∱||$15,104M||$14,156M|
|Number of Securities||46||783|
(as of 9/30/17)
Newmont Mining Corp. 4.3%, ONE Gas, Inc. 3.9%, Biogen Idec, Inc. 3.6%, Weyerhaeuser Co., REIT 3.5%, Newell Rubbermaid, Inc. 3.2%, White Mountains Insurance Group, Ltd. 3.2%, Carter’s, Inc. 3.0%, Alleghany Corp. 3.0%, Yum! Brands, Inc. 2.8% and Celanese Corp., Class A 2.8%. Holdings are subject to change.
†The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index is a subset of the Russell 3000 Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. One cannot invest directly in any index.
‡The S&P 500 Stock Index is an unmanaged index of large capitalization common stocks. One cannot invest directly in any index.
§Russell Midcap Growth Index is a market capitalizationweighted index that measures the performance of those Russell Midcap companies with higher price-to-book ratios and higher forecasted growth rates. The stocks are also members of the Russell 1000 Growth Index. One cannot invest directly in any index.
ΔRussell Midcap Value Index is a market capitalizationweighted index that measures the performance of those Russell Midcap companies with lower price-to-book ratios and lower forecasted growth rates. The stocks are also members of the Russell 1000 Value Index. One cannot invest directly in any index.
∼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: The amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.
∞An Ex-ante Beta is used for Funds with less than 2 years of performance history under its new mandate. The Ex-Ante Beta is calculated using a multi-factor risk model. Beta explains common variations in stock returns due to different stock sensitivities to the market relative to its underlying benchmark for the current period, not historical. 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.