Goldman Sachs Veteran Joins Pax World

PORTSMOUTH, N.H., Oct. 26, 2015 /PRNewswire/ -- Pax World Management LLC, investment adviser to Pax World Funds (www.paxworld.com), a leader in the field of sustainable investing, today announced that it has hired Peter Schwab, CFA, to serve as Portfolio Manager of the Pax World High Yield Bond Fund (PAXHX). Mr. Schwab, a former Managing Director and Director of High Yield Research at Goldman Sachs Asset Management (GSAM) with 17 years of High Yield experience, replaces Mary Austin, who is re-locating to be closer to her family. There are no further changes to the High Yield Bond Fund team.

"I am looking forward to leading Pax's very capable and experienced high yield bond team and building on the success it has had over the past several years," said Mr. Schwab. "I strongly believe that the high yield asset class has much to offer investors over the near and longer term. This is particularly true of a strategy that carefully manages credit selection and portfolio construction while fully integrating robust environmental, social and governance (ESG) research."

As Director of Research and senior member of GSAM's High Yield Bond team managing over $30 billion in assets, Mr. Schwab was responsible for recruiting, training and supervising a global team of 17 research professionals in New York, London and Bangalore. He participated in all fundamental credit analysis, portfolio positioning and new issue decisions. Prior to 2010, he was a Senior Sector Analyst covering automotive, chemical, gaming/lodging, wireless, telecom, transportation and media sectors.

In 2012, Mr. Schwab co-led GSAM's signing of the United Nations Principles for Responsible Investment (UNPRI). He also performed due diligence for selection of an ESG research provider, established standards for integration of ESG scores into financial analysis and managed orientation of the corporate credit research team with respect to ESG issues.

Prior to joining Goldman Sachs in 2000, Mr. Schwab was a high yield research associate at Putnam Investments in Boston. He began his career at Donaldson, Lufkin and Jenrette as a member of the High Yield Research Group. Mr. Schwab received a BA from Union College, an MBA in Finance from Columbia University, and is a CFA charter holder and member of the New York Society of Security Analysts.

"We are looking forward to Peter's taking over the reins as Portfolio Manager and assuming leadership of our High Yield Bond Fund team," said Pax World President and CEO Joe Keefe. "Peter's rigorous training, knowledge and experience in managing high yield bond portfolios, coupled with his keen interest in sustainability issues, makes him the perfect person to succeed Mary Austin and lead Pax's efforts in this area."

"We also want to thank Mary for her outstanding contributions, first as Senior Analyst and then, for the past nine years, as Portfolio Manager of the High Yield Bond Fund," continued Keefe. "The Fund's success over that time period is testament to her investment acumen and leadership."

About Pax World Management LLC

Pax World Management LLC, investment adviser to Pax World Funds (www.paxworld.com), 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, and separately managed accounts. 

Past performance does not guarantee future results. Investing involves risk, including loss of principal. Investment return and principal value will fluctuate so that you may have a gain or a loss when you sell your shares. You should consider a fund's investment objectives, risks and charges and expenses carefully before investing. For this and other important information, please obtain a fund prospectus by calling 800.767.1729 or visiting www.paxworld.com. Please read it carefully before investing.

Distributor: ALPS Distributors, Inc., Member: FINRA.

PAX005599 (10/16)

SOURCE Pax World Management LLC

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