Mutual Fund of the Week (PAXHX)

[oldskeet]

A High-Yield Bond Fund Says Goodbye to Fossil Fuels

The article begins.  "It might be a surprise to some investors that not all environmentally oriented mutual funds are free of traditional fossil-fuel companies. But the Pax High Yield Bond fund is living up to its ESG—environmental, social, and governance—mandate when it comes to energy."

www.barrons.com/articles/high-yield-bond-fund-esg-fossil-fuels-51630530288

Fund Report: www.marketwatch.com/investing/fund/paxhx

Comment: I'm thinking that the reason Barons wrote about this fund is because it holds no fossil fuels.  Based upon its Lipper Fund Score (15 over 25) it is not a fund that interest me.

[yogibearbull]

Pax World Funds is an ESG oriented form. It was acquired in 2018 by Impax Asset Management, another bigger ESG firm. If anything, the surprise here is that HY PAXHX had non-ESG investments before.

There has been consolidation in the ESG industry. Bigger fish find that a quick way to jump into the ESG space is by swallowing smaller fish(es).