Industry Investment management Number of employees 54 | Website Paxworld.com | |
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Key people Joseph Keefe, President & CEO
Steve Falci, Chief Investment Officer
Julie Fox Gorte, Ph.D. SVP for Sustainable Investing Products Mutual funds, separately managed accounts Headquarters Portsmouth, New Hampshire, United States Founded 1971, Portsmouth, New Hampshire, United States | ||
Pax World Management LLC ("Pax World") investment advisor to Pax World Funds, is a sustainable investment firm. Pax World integrates Environmental Social and Corporate Governance (ESG) factors into investment analysis and portfolio construction. For over 45 years, Pax World has made it possible for investors to align their investments with their values and have a positive social and environmental impact. Its platform of sustainable investing solutions includes a family of mutual funds, as well as separately managed accounts.
History
Pax World launched the first socially responsible mutual fund in the United States in 1971.
The company was founded by Luther Tyson and Jack Corbett, both of whom had worked on peace, housing and employment issues for the United Methodist Church. It was their desire to make it possible for investors to align their investments with their values. At the same time, they wanted to challenge corporations to establish and live up to specific standards of social and environmental responsibility. Their vehicle, the first broadly diversified, publicly available mutual fund to use social as well as financial criteria in the investment decision-making process, was the Pax World Fund, predecessor of what is now the Pax World Balanced Fund.
In 2014, Pax World Management LLC and Ellevate Asset Management LLC, whose principal is Sallie Krawcheck, partnered to form Pax Ellevate Management. Pax Ellevate launched the Pax Ellevate Global Women’s Index Fund, the first broadly diversified mutual fund that invests in companies that are among the highest rated in the world when it comes to advancing women’s leadership.