Pax World Funds, a Portsmouth, N.H.-based mutual fund family that counts gender equality among its environmental, social and governance-focused goals, is collaborating with 25,000 professional women in pursuit of that objective.
On Oct. 25, the manager of the $33 million Pax World Global Women's Equality Fund announced a strategic partnership with 85 Broads, a group begun in the mid-90s by Goldman Sachs Group Inc. “graduate” Janet Hanson as a means of keeping in touch with her female colleagues at the firm, located at 85 Broad Street in New York, that has morphed into a global network with members in more than 90 countries.
Both sides share common goals, said Joe Keefe, president and CEO of Pax World, who called the network of 25,000 “successful, engaged” professional women a group Pax World “will want to be talking to about our investment approach.” He said he expects there will be a range of issues on which Pax World — which regularly votes against slates of company directors that don't include women — and 85 Broads can collaborate.
Both Ms. Hanson and Jacki Zehner, an 85 Broads' member who is also vice chair of the Women's Funding Network, have joined Pax World's Women's Advisory Council.
In a separate interview, Ms. Hanson said she was “really struck by what Joe is trying to do” in making women's equality an investment theme — difficult terrain where “you have to do an awful lot of things really right.” She said under their partnership, Pax World will provide a lot more information about sustainable investing on the 85 Broads' website, helping its members become better consumers.