Money-management firm, Pax World, has launched a new ETF focusing on companies outside of North America that meet its social, environmental and governance screens. The Pax MSCI EAFE ESG Index ETF will invest about 80% of its assets in components of or depositary receipts representing the MSCI EAFE ESG Index.
The fund will invest the remaining 20% in futures, options, swaps or cash. Dallas-based financial services and trading firm, Esposito Securities, provided the seed money for the new fund. Pax World is also planning to launch the Pax FTSE Environmental Technologies (ET50) Index ETF in the next few weeks.
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