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PGRNX - Pax World Global Environmental Markets Fund

Mulder420
in Fund Discussions
I had been looking at this ESG fund, for last two years. (this will be less than 5% of my retirement portfolio). PGRNX has 37% renewable energy, 40% water, 11% waste management.

http://paxworld.com/system/storage/19/d7/e/1748/fact_sheet_globalenvironmentalmarketsfund.pdf

This is tracked as a world stock. Expenses are a bit high, But I have more than 15 years for my retirement and was thinking to add one of ESG funds. I used to believe this was a hype but I do believe in climate change and have experienced personally scarce water issues in other parts of the world.

Thoughts? Opinions?

Thanks

Mulder

Comments

  • rforno

    Too expensive for my tastes on both ER and 12(b)-1 fees but I do like many of its holdings. If you want ESG fund, maybe look at PRBLX which has done better than this one for the past several years and is cheaper, too. It's more US focused, though. (I own it)
  • AndyJ
    edited February 2016
    I have a small toehold in it, but may sell it - not that impressed with management. First, they completely missed the previous runup in renewable energy (in 2013); they had zero renewables or close to it for most of that run. Second, the overall reward:risk, imho, is just okay for what it is, but not that impressive. But it isn't nearly as risky as the cap-weighted etf's out there, so it may work fine for a small position over a period of time.

    PRBLX is good - don't own it now, but have owned it most of the time for > 10 years - but if action on climate change is a thesis you want to pursue, it's not what you're looking for. It's a best-in-class generalist fund, almost always with commodity energy exposure and nothing in any sort of alternatives.

    One of these days someone somewhere is going to hire a firm like Wellington to run an ESG-with-lots-of-E moderate allocation fund, and it'll be a big hit.
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