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Pax World funds invest in defense contractor....
The following is an excerpt from the blog I recently created, SRIgreen.com, creating a forum and collaborative home base for the public scrutiny of green, socially responsible mutual funds.
Would you expect the defense contractor AECOM Technology to be one of the investments in the Pax World "peace" socially responsible mutual funds? I wouldn't, as an investment adviser working with clients for whom I formulate ethical standards for their investment policies. Of course, Pax World likes to say that Pax means peace and, in their prospectus, they say that they avoid investing in companies "significantly involved in the manufacture of weapons or weapons-related products." They state, "our Funds seek to promote peace, reconciliation and international understanding," and have self-prohibited even from investing in U.S. Treasury bonds. Moreover, Pax World's ads in publications such as E Magazine and Mother Jones declare: "No Weapons," "Promote Peace," "Take the high road" and "Green, Not Greed."
AECOM Technology is an engineering and defense contractor whose business ranges from managing the U.S. Army's Fort Polk, including its live-fire target ranges, to operating logistics, training and repair depots for the U.S. military in Iraq, Kuwait and Afghanistan, with more than 6,000 employees working for its CSA subsidiary in Kuwait alone. They are defense contractors repairing and maintaining everything from machine guns to computers to communications equipment to tanks, among other tasks. And, yes, the AECOM-CSA depot is the shipping point for ammunition into Iraq.
Eric's keywords: Pax World, mutual funds, green investing, ethical investing, socially responsible investing
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Helpful, Informative Staff
My wife and I have been looking for a sustainable/socially responsible Mutual Fund for some time now. We spoke with several such fund managers at the Green Festival. Pax stands out as one of the best. Maureen, who was working the Pax booth, was extremely helpful and knowledgeable. She answered all our questions and directed us to the right literature that we needed to make our decision. I suspect that we will invest with Pax.
Chad's keywords: socially responsible investing
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Decent performance, still sustainable
While my mutual fund has not necessarily outpaced the market, it has done reasonably well. I worry a bit about their recent policy change to eliminate their zero-tolerance for certain vice sectors, but was reassured by the local booth person that they need the flexibility to use discretion when presented with an investment that may be in the gray area.
John's keywords: SRI, socially responsible investing, mutual funds
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awesome
a very aware mutual fund with good consistent returns and low costs.
Michael's keywords: mutual fund
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superb investment
a low cost high quality socially responsible fund
Mike's keywords: mutual fund
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