Pax urges ‘alternative gifts’ for holiday

Portsmouth-based Pax World Funds is urging employees, shareholders and others to think about “alternative gifts” this holiday season to support peace, reconciliation and humanitarian relief.

In particular, the socially responsible mutual fund company is encouraging fund shareholders and others to consider making charitable donations in the form of Mercy Corps’ “Mercy Kits” or other humanitarian contributions during the 2005 holiday season.

Pax World Funds CEO Joe Keefe said “2005 was a very difficult year for many people around the globe, from Pakistan to Sudan to New Orleans. As a socially responsible mutual fund company, we feel a special obligation at Pax World this holiday season to give something back. We have long been committed to supporting the work of Mercy Corps, and given the enormity of suffering around the world and the fact that a modest gift can do so much, we have decided to augment our efforts this holiday season.”

For many years, shareholders in the Pax World Balanced Fund have had the option of voluntarily contributing a percentage of fund income, including capital gains, to Pax World Service, in order to support the work of Mercy Corps. Keefe said that Pax World has added a link on its Web site so investors and other site visitors can make holiday donations through Mercy Corps, and that Pax World has sent an email message to its shareholders encouraging them to donate.

Pax World Management Corp., investment adviser to Pax World Funds, will be making a year-end contribution and Pax World employees are raising money to provide “Mercy Kits” and other donations through Mercy Corps as well, he said. – NHBR STAFF