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GreenMoney Journal - publishing since 1992
Fall 2010 issue
Socially Responsible Investing – Better Companies, Better Communities
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Pax World Balanced Fund Receives Morningstar
Pax World
Performance of Socially Responsible Fund Debunks Low-Return Myth
Pax World Balanced Fund (PAXWX), the United States' first socially and environmentally responsible
mutual fund, now has a five star Overall Morningstar Rating as rated among 629 moderate allocation
funds as of June 30, 2004. For its 10-year performance as of June 30, 2004, the Pax World Balanced
Fund is placed by Lipper in the top 10 percent - 12th out of 136 - among all balanced funds ranked
by that firm.
Pax World Balanced Fund Manager Chris Brown said: "This is the latest
evidence that you can have strong performance while investing to make the world a better place for
yourself and your children. The Pax World Balanced Fund started almost 33 years ago with that goal
in mind. The old-fashioned notion that a social conscience and good investments don't mix has been
thoroughly debunked - and the Pax World Balanced Fund is one of the big reasons for that turnaround
in thinking."
The Pax World Balanced Fund has been recognized by Morningstar with a
five-star rating for the 10-year period (out of 179 moderate allocation funds), and four-star
ratings for the five- and three-year periods (out of 490 and 629 moderate allocation funds,
respectively), ending June 30, 2004 (1).
According to Lipper, the performance of the Pax
World Balanced Fund ranks in the top quintile of balanced funds (18 percent, or 97th out of 527
funds) for the one-year period ended June 30, 2004. Over the 10-year period ending June 30, 2004,
the Fund's performance puts it in the top 10 percent, ranked 12th out of 136 funds, according to
Lipper.(2)
Through June 30, 2004, the Pax World Balanced Fund has gained 4.11 percent so
far this year. Over the 12-month period ending June 30, 2004, the Fund has posted a return of 14.15
percent. Over the past three-, five-, 10- and 20-year period, the Pax World Balanced Fund has
returned 2.18 percent, 2.92 percent, 11.43 percent and 11.19 percent, respectively, through June
30, 2004. Since inception in August 1971, the Fund has gained 11.19 percent annually, through June
30, 2004.
(1) The "Overall Morningstar Rating" for a fund is derived from a weighted
average of the performance figures associated with its 3-, 5-, and 10-year (if applicable)
Morningstar Rating™ metrics which are based on risk-adjusted returns. Morningstar awards the top 10
percent of funds in each category with five stars. The next 22.5 percent receive four stars, while
the next 35 percent receive three stars, the next 22.5 percent receive two stars and the bottom 10
percent receive one star. This rating is subject to change every month. Past performance is no
guarantee of future results.
(2) As of June 30, 2004, Lipper ranks the Fund in the
following ways: 1-year: top 18 percent - ranked #97 out of 527 funds; 3-year: top 39 percent -
ranked #168 out of 435 funds; 5-year: top 28 percent - ranked #101 out of 363 funds; and 10 year:
top 9 percent - ranked #12 out of 136 funds.
ABOUT PAX WORLD BALANCED
FUND
Founded in 1971, Pax World Balanced Fund was the first mutual fund to adopt
broad socially responsible standards for its investments, thus pioneering the idea of a mutual fund
with a conscience. The fund uses a blend of carefully chosen stocks, bonds, and government
securities to seek income, preservation of capital, and moderate growth; long-term capital growth
is secondary. On the financial side, the fund seeks to produce an above-average total return at
below-average risk, to produce income while conserving principal, to achieve the long-term
appreciation of capital, to temper risk through a balance of stocks and U.S. government agency
bonds, to further reduce risk through diversification among industries and to utilize a long-term
perspective on the trading of securities. The fund is committed to investing in goods and services
that improve the quality of life, companies with fair employment practices, companies with sound
environmental policies, home and student loan agencies, international development agencies and low-
and moderate-income housing.
ABOUT PAX WORLD FUNDS
Pax World
Funds seek to enable persons of conscience to invest in keeping with their ethical values and to
challenge corporations to establish and meet certain ethical standards. The Funds invest in
companies that produce goods and services that improve the quality of life such as health care,
technology, housing, food, education, pollution control, utilities, and leisure-time activities.
The Funds do not invest in companies that make defense or weapons-related products or that derive
revenue from the manufacture of tobacco, alcohol, or gambling products.
Past performance
is no guarantee of future results. You should consider a fund's investment objectives, risks, and
charges and expenses carefully before investing. For this and other important information about the
investment company, please obtain a fund prospectus by calling 1-800-767-1729 or visiting
http://www.paxworld.com .
Please read it carefully before investing.
Article source:
Pax World Management Corp.
222 State Street, Portsmouth, NH 03801
Distributor: H.G.
Wellington & Co., Inc. - Member NASD/SIPC
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