One exchange traded fund (ETF) provider is expanding its lineup, while a new one is coming on the scene with a new sector target.
Pax World Management Corp. originally a provider of socially responsible mutual funds, is going to enter into the exchange traded fund(ETF) market with funds tracking the same sector.
The Portsmouth, New Hampshire company has already registered with the Securities and Exchange Commission (SEC) for the launch of three new ETFs. Luisa Beltran for Ignites reports that two of the funds, the North American and the Europe Asia Pacific, target companies with strong “environmental, social governance” criteria. The third invests in businesses that use or develop “environmental technologies,” according to the filing.