Pax World Women s Initiatives

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1 Pax World Women s Initiatives Pax World launched the first socially responsible mutual fund in the United States in Today, with $2.3 billion in assets under management across seven funds, 1 Pax World is a recognized leader in the field of Sustainable Investing the full integration of environmental, social and governance (ESG) factors into investment analysis and decision making. Among those factors, Pax World is particularly focused on promoting gender equality and advancing the social and economic status of women. In fact, we believe that companies with a strong commitment to gender equality and women s empowerment are generally better long-term investments they take advantage of a larger talent pool, engage in better decision making and have workforces that are more reflective of and responsive to their customer base. Pax World Women s Equity Fund The Pax World Women s Equity Fund is the only mutual fund in the United States with a primary focus of advancing the social and economic status of women in the workplace and beyond. The Fund seeks long-term capital appreciation by investing primarily in companies that, in addition to meeting Pax World s other financial, environmental, social and governance (ESG) criteria, take affirmative steps to advance women s equality in the workplace, promote women to top executive positions, have female representation on their boards and present positive images of women in their advertising, promotion and marketing. Gender and Proxy Voting In all seven of our funds, Pax World withholds votes from, or where possible votes against, any slate of corporate directors where there are no women on the board of directors. We then write to the companies explaining the reason for our vote and encourage them to take steps to bring gender diversity to their boards. Pax World Women s Advisory Council The Pax World Women s Advisory Council, which is comprised of nationally-known leaders and experts on women s issues, assists Pax World in its various initiatives focused on advancing women and gender equality. The Honorable Linda Tarr-Whelan, former Ambassador and U.S. Representative to the U.N. Commission on the Status of Women, chairs the Women s Advisory Council, whose member list is attached. Gender Equality as an Investment Concept Pax World and Demos, a national, non-partisan public policy center, along with several other cosponsors Women Thrive Worldwide, Ms. Foundation, National Council for Research on Women, New York Women s Foundation, Financial Women s Association of the New York Women s Agenda have been hosting a series of seminars around the country entitled Gender Equality as an Investment Concept. The events, which are part of Demos ongoing Women s Leadership Initiative Series, highlight the importance of women s equality 1 As of 8/31/09 CONTINUED

2 and leadership in securing economic prosperity and promoting sustainable development. To date, forums have been held in New York and Washington, D.C., and additional forums are being planned for the fourth quarter of 2009 and beyond. Pax World & KLD Perform Work on Gender Investing for International Finance Corporation. Pax World and KLD Research & Analytics, Inc., an independent investment research firm that launched the first socially responsible investment index in 1990, recently joined forces on three gender equality initiatives on behalf of the International Finance Corporation (IFC): performing a literature review of the research available on the link between gender empowerment and corporate financial performance; constructing the first Gender Investment Index series; and designing a gender empowerment survey tool. IFC is a member of the World Bank Group and is sponsoring the project as part of its Gender Entrepreneurship Markets (GEM) program, a global program aiming to better leverage the untapped potential of women in emerging markets. Shareholder Advocacy: Human Trafficking Pax World believes that engaging with companies around gender empowerment issues can play an important role in promoting gender equity. For example, Pax World recently contacted 16 companies in the energy and industrials sectors that are held in the Women s Equity Fund regarding their risk exposure to human trafficking and asking them to address the issue. In Pax World s view, these companies carry an increased level of legal and reputational risk in connection with the potential existence of slave labor in company supply chains, employee involvement in human trafficking rings and employees soliciting sex from trafficked people. Pax World Management LLC Pax World Management LLC, investment adviser to Pax World Funds, focuses on advancing women in the management of its own business. Three of six in-house portfolio managers are women, as are three out of Pax World s seven-member senior management team. Pax World also focuses on gender and women s issues in its charitable giving, supporting such organizations as the Women s Fund of New Hampshire, New Hampshire Women s Policy Institute, Women s Funding Network and Girls Inc. of New Hampshire. Pax World also recently endowed the Pax World Scholarship Fund for Sustainable Development at Southern New Hampshire University s (SNHU) School of Community and Economic Development to provide tuition support to female students from African nations attending the program, an internationally recognized center of excellence in education, public policy, research and institutionbuilding that promotes sustainable development around the globe. 30 Penhallow Street, Ste 400 Portsmouth NH You should consider a fund s investment objectives, risks, and charges and expenses carefully before investing. For this and other important information, please obtain a fund prospectus by calling or visiting Please read it carefully before investing. The Pax World Funds sustainable investing policies may inhibit the Funds ability to participate in certain attractive investment opportunities that otherwise would be consistent with its investment objectives and other principal investment strategies. Copyright 2010 Pax World Management LLC All rights reserved. Distributor: ALPS Distributors Inc.: Member FINRA. PAX /10

3 Women s Advisory Council Contact List Linda Tarr-Whelan, Advisory Council Chair Author of Women Lead the Way: Your Guide to Stepping Up to Leadership and Changing the World Demos Distinguished Senior Fellow P.O. Box 1012 St. Helena Island, SC Susan Askew 821 Water Place Alexandria, VA Linda Basch President and Executive Director National Council for Research on Women 11 Hanover Square, 24th Floor New York, NY Kathy Bonk Executive Director Communications Consortium Media Center 401 Ninth Street, NW, Suite 450 Washington, DC Martha Burk President Center for Advancement of Public Policy National Council of Women s Organizations 1701 K Street, NW, Suite 400 Washington, DC Leslie E. Christian President and Chief Investment Officer Portfolio 21 Investments 721 NW Ninth Avenue, Suite 250 Portland, OR Ritu Sharma Fox President and Founder Women Thrive Worldwide 1825 Connecticut Avenue, NW, Suite 600 Washington, DC Assistant: Ellie Parkinson

4 Women s Advisory Council Contact List Page Two Sarah Gauger Executive Director Hunt Alternatives Fund 625 Mount Auburn Street Cambridge, MA Gina Glantz Service Employees International Union 1800 Massachusetts Avenue, NW Washington, DC Christine Grumm Women s Funding Network 1375 Sutter Street, Suite 406 San Francisco, CA Heidi Hartmann President and Executive Director Institute of Women s Policy Research 1707 L Street, NW, Suite 750 Washington, DC Assistant: Ashley English Janet L. Holmgren President, Mills College Mills Hall MacArthur Blvd. Oakland, CA Assistant: Pamela Reid Donna Klein Corporate Voices for Working Families 2600 Virginia Avenue, Suite 205 Washington, DC Ethel Klein President EDK Polling 247 W. 12th Street, Penthouse A New York, NY 10014

5 Women s Advisory Council Contact List Page Three Madeleine Kunin Former Governor of Vermont Distinguished Visiting Professor University of Vermont 9 Harbor Watch Road Burlington, VT Kavita Ramdas Global Fund for Women 1375 Sutter Street, Suite 400 San Francisco, CA Assistant: Melissa Nunan-Lew Deborah Rhode Professor of Law, Stanford University Crown Quadrangle, 559 Nathan Abbott Way Stanford, CA Assistant: Mary Tye

Report 2017 UK GENDER PAY GAP UK GENDER PAY GAP REPORT

Report 2017 UK GENDER PAY GAP UK GENDER PAY GAP REPORT 2017 1 INTRODUCTION DEE SAWYER Head of Human Resources At T. Rowe Price we are committed to diversity and inclusion. It is an integral part of our