Esposito Securities Enters Agreement to Seed Pax World ETF

DALLAS, Jan. 26, 2011 /PRNewswire/ -- Esposito Securities has entered into an agreement to seed the Pax (NYSE Arca: EAPS) MSCI EAFE ESG Index ETF with a total of $2.5mm composed of two creation units totaling 100,000 shares and an initial price of $25.00 per share. This exchange traded fund (ETF) product will be listed under the ticker symbol EAPS on the NYSE Arca. Pax World Management LLC is acting as the adviser for the fund, which is planned to launch January 28, 2011.

"EAPS brings the number of ETFs seeded by Esposito Securities to five. We are fully committed to pursuing additional opportunities, and more aggressively creating ETF activity. Our relationship with Pax underscores that commitment," states Mark Esposito, CEO.

Part of ESG Shares®, the first family of ETFs devoted exclusively to a Sustainable Investing approach, Pax World's new ETF seeks to track the performance of the MSCI EAFE ESG Index, which is created and maintained by MSCI. The Index consists of equity securities of issuers in developed markets in Europe, Australasia and the Far East that meet specific environmental, social and governance (ESG) criteria developed by MSCI ESG Research.  The Pax MSCI EAFE ESG Index ETF is the first international ETF based on a sustainability or ESG-based index.        

ESG Shares® are at the intersection of two powerful investment trends:  The increasing popularity of ETFs, and the fast-growing mainstream interest in Sustainable Investing – the integration of environmental, social and governance (ESG) criteria into investment analysis and decision making.  According to Pax World, ESG Shares offer all the advantages typically associated with ETFs, but with the added value of being driven by a Sustainable Investing methodology.

The foray of Esposito Securities into ETF activity speaks to the strategic direction of Esposito to provide across-the-board trading services for its clients. Esposito Securities, LLC, is a part of the Esposito Global family, and provides global equity trading services. A growing list of clients use our services, including registered investment advisors, mutual funds, hedge funds, ETFs, closed end funds and unit investment trusts with trillions of dollars in assets. The benchmark of Esposito is a commitment to customer service.  Member FINRA/SIPC.  Contact Peter Steube at 214.855.2196 or visit our website at www.espositoglobal.com for more information.

To learn more about ESG Shares, visit www.esgshares.com.

About Pax World Management LLC

Pax World Management LLC, the investment adviser to Pax World Funds, is a recognized leader in Sustainable Investing, the full integration of environmental, social and governance (ESG) factors into investment analysis and decision making. Pax World launched the financial industry's first socially responsible mutual fund in 1971. Today, Pax World offers a comprehensive platform of Sustainable Investing solutions including Pax World Funds, a family of no-load mutual funds; ESG Managers™ Portfolios, multi-manager asset allocation funds powered by Morningstar Associates; ESG Shares®, the first family of ETFs devoted exclusively to a Sustainable Investing approach; and separately managed accounts for institutional investors. For more information, visit www.paxworld.com.

ESG Shares are new and have a limited operating history. An investment in ESG Shares involves risk, including loss of principal. You should consider ESG Shares' investment objectives, risks, and charges and expenses carefully before investing. For this and other important information, please obtain a fund prospectus by calling 888.729.3863 or by visiting www.esgshares.com. Please read it carefully before investing.

ESG Shares are distributed by ALPS Distributors, Inc. Pax World Management LLC, Esposito Securities, LLC and MSCI are not affiliated with ALPS Distributors, Inc.

Pax World's separately managed accounts and related advisory services are provided by Pax World Management LLC, a federally registered investment adviser. ALPS Distributors, Inc. is not the distributor for Pax World's separately managed accounts.

The fund described herein is indexed to an MSCI index. The fund referred to herein is not sponsored, endorsed, or promoted by MSCI or its affiliates, and MSCI and its affiliates bear no liability with respect to any such fund or any index on which such fund is based. The MSCI EAFE ESG Index is designed to include equity securities of issuers organized or operating in Europe, Australasia and the Far East that have high environmental, social and governance (ESG) ratings relative to their peers as rated by MSCI ESG Research annually. The MSCI EAFE ESG Index includes or utilizes data, ratings, analysis, reports, analytics or other information or materials from MSCI's ESG Research Group within Institutional Shareholder Services Inc., an indirect wholly-owned subsidiaries of MSCI. The Prospectus contains a more detailed description of the limited relationship MSCI has with Pax World Management LLC, ESG Shares and any related funds.

SOURCE Esposito Securities

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED