EXPLANATORY NOTE
Incorporated herein by reference is a supplement to the Pax World Funds Series Trust I prospectus for Pax World ESG Managers Growth Portfolio, ESG Managers Income Portfolio, ESG Managers Growth and Income Portfolio, and ESG Managers Balanced Portfolio filed pursuant to Rule 497(e) under the Securities Act of 1933, as amended, on September 26, 2013 (SEC Accession No. 0001104659-13-072395).
ESG Managers Income Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
ESG Managers Income Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pax World Funds Series Trust I ESG Managers Asset Allocation Portfolios Supplement Dated September 26, 2013 to the Prospectus Dated May 1, 2013 |
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Beginning October 1, 2013, the ESG Managers Portfolios plan to invest primarily through mutual funds and/or exchange-traded funds (“ETFs”). Pax World Management LLC has agreed, effective October 1, 2013, to reduce the management fees it is paid by each ESG Managers Portfolio with respect to the portion of assets invested in mutual funds and/or ETFs to an annual rate of 0.45% of the Fund’s average daily net assets that are so invested. Accordingly, effective October 1, 2013, the tables entitled “Annual Fund Operating Expenses (Expenses You Pay Each Year as a Percentage of the Value of Your Investment)” and “Example of Expenses” for each of the ESG Managers Portfolios are deleted in their entirety and replaced with the following: |
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Annual Fund Operating Expenses (Expenses You Pay Each Year as a Percentage of the Value of Your Investment) | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Example of Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||
The table below is intended to help an investor compare the cost of investing in shares of the Income Portfolio with the cost of investing in other mutual funds. The table assumes that an investor invests $10,000 in shares of the applicable Class for the time periods indicated and then redeems all of his or her shares at the end of those periods. The table also assumes that the investment has a 5% return each year, that all dividends and distributions are reinvested and that the Class’s operating expenses remain the same throughout those periods. Although an investor’s actual expenses may be higher or lower than those shown in the table, based on these assumptions his or her expenses would be: |
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M$@Z<,ZX4:?0_BP4XNH"<\"B Pax World Funds Series Trust I ESG Managers Asset Allocation Portfolios Supplement Dated September 26, 2013 to the Prospectus Dated May 1, 2013 Beginning October 1, 2013, the ESG Managers Portfolios plan to invest primarily through mutual funds and/or exchange-traded funds (“ETFs”). Pax World Management LLC has agreed, effective October 1, 2013, to reduce the management fees it is paid by each ESG Managers Portfolio with respect to the portion of assets invested in mutual funds and/or ETFs to an annual rate of 0.45% of the Fund’s average daily net assets that are so invested. Accordingly, effective October 1, 2013, the tables entitled “Annual Fund Operating Expenses (Expenses You Pay Each Year as a Percentage of the Value of Your Investment)” and “Example of Expenses” for each of the ESG Managers Portfolios are deleted in their entirety and replaced with the following: The table below is intended to help an investor compare the cost of investing in shares of the Growth Portfolio with the cost of investing in other mutual funds. The table assumes that an investor invests $10,000 in shares of the applicable Class for the time periods indicated and then redeems all of his or her shares at the end of those periods. The table also assumes that the investment has a 5% return each year, that all dividends and distributions are reinvested and that the Class’s operating expenses remain the same throughout those periods. Although an investor’s actual expenses may be higher or lower than those shown in the table, based on these assumptions his or her expenses would be: Pax World Funds Series Trust I ESG Managers Asset Allocation Portfolios Supplement Dated September 26, 2013 to the Prospectus Dated May 1, 2013 Beginning October 1, 2013, the ESG Managers Portfolios plan to invest primarily through mutual funds and/or exchange-traded funds (“ETFs”). Pax World Management LLC has agreed, effective October 1, 2013, to reduce the management fees it is paid by each ESG Managers Portfolio with respect to the portion of assets invested in mutual funds and/or ETFs to an annual rate of 0.45% of the Fund’s average daily net assets that are so invested. Accordingly, effective October 1, 2013, the tables entitled “Annual Fund Operating Expenses (Expenses You Pay Each Year as a Percentage of the Value of Your Investment)” and “Example of Expenses” for each of the ESG Managers Portfolios are deleted in their entirety and replaced with the following: The table below is intended to help an investor compare the cost of investing in shares of the Growth and Income Portfolio with the cost of investing in other mutual funds. The table assumes that an investor invests $10,000 in shares of the applicable Class for the time periods indicated and then redeems all of his or her shares at the end of those periods. The table also assumes that the investment has a 5% return each year, that all dividends and distributions are reinvested and that the Class’s operating expenses remain the same throughout those periods. Although an investor’s actual expenses may be higher or lower than those shown in the table, based on these assumptions his or her expenses would be: I?.BM"W
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Label
Element
Value
Risk/Return:
rr_RiskReturnAbstract
Supplement [Text Block]
ck0000076721_SupplementTextBlock
Risk/Return [Heading]
rr_RiskReturnHeading
ESG Managers Growth Portfolio
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Operating Expenses Caption [Text]
rr_OperatingExpensesCaption
Annual Fund Operating Expenses (Expenses You Pay Each Year as a Percentage of the Value of Your Investment)
Fee Waiver or Reimbursement over Assets, Date of Termination
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination
2015-12-31
Expense Example [Heading]
rr_ExpenseExampleHeading
Example of Expenses
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
Risk/Return:
rr_RiskReturnAbstract
Management Fees
rr_ManagementFeesOverAssets
0.51%
[1],[2]
Distribution and/or Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
1.83%
[3]
Acquired Fund Fees and Expenses
rr_AcquiredFundFeesAndExpensesOverAssets
0.69%
[1],[4]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
3.28%
Contractual Reimbursements
rr_FeeWaiverOrReimbursementOverAssets
(1.56%)
[1],[5]
Net Annual Fund Operating Expenses
rr_NetExpensesOverAssets
1.72%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 715
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
1,219
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
1,904
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
3,720
Risk/Return:
rr_RiskReturnAbstract
Management Fees
rr_ManagementFeesOverAssets
0.51%
[1],[2]
Distribution and/or Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
Other Expenses
rr_OtherExpensesOverAssets
1.83%
[3]
Acquired Fund Fees and Expenses
rr_AcquiredFundFeesAndExpensesOverAssets
0.69%
[1],[4]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
3.03%
Contractual Reimbursements
rr_FeeWaiverOrReimbursementOverAssets
(1.56%)
[1],[5]
Net Annual Fund Operating Expenses
rr_NetExpensesOverAssets
1.47%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
150
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
632
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
1,308
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
3,116
Risk/Return:
rr_RiskReturnAbstract
Management Fees
rr_ManagementFeesOverAssets
0.51%
[1],[2]
Distribution and/or Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
1.00%
Other Expenses
rr_OtherExpensesOverAssets
1.83%
[3]
Acquired Fund Fees and Expenses
rr_AcquiredFundFeesAndExpensesOverAssets
0.69%
[1],[4]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
4.03%
Contractual Reimbursements
rr_FeeWaiverOrReimbursementOverAssets
(1.56%)
[1],[5]
Net Annual Fund Operating Expenses
rr_NetExpensesOverAssets
2.47%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
350
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
932
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
1,796
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
4,030
Expense Example, No Redemption, 1 Year
rr_ExpenseExampleNoRedemptionYear01
250
Expense Example, No Redemption, 3 Years
rr_ExpenseExampleNoRedemptionYear03
932
Expense Example, No Redemption, 5 Years
rr_ExpenseExampleNoRedemptionYear05
1,796
Expense Example, No Redemption, 10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 4,030
[1]
Restated to give effect to contractual changes effective October 1, 2013, assuming assets allocated to certain Sleeve Subadvisers during the most recent fiscal year were instead allocated to mutual funds or ETFs advised or subadvised by such Sleeve Subadvisers.
[2]
This fee is blended, applying the reduced 0.45% management fee to the portion of fund assets allocated to mutual funds or ETFs, and applying previously existing management fees to the portion of fund assets managed directly by Sleeve Subadvisers.
[3]
Restated to reflect cost savings that will result from contractual changes effective October 1, 2013, including contractual reductions in custody and fund accounting service fees.
[4]
Acquired Fund Fees and Expenses represent expenses indirectly borne by the Fund through its investment in other investment companies.
[5]
The Adviser has agreed contractually to reimburse a portion of the Fund's expenses so that the Fund's Other Expenses (excluding management fees, distribution and service fees, interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses and Acquired Fund Fees and Expenses other than those attributable to advisory fees indirectly borne by the Fund through its investment in funds (other than ETFs) advised by the Adviser), as a percentage of its average net assets, do not exceed 0.39% on an annualized basis. This reimbursement arrangement will continue in effect until at least December 31, 2015 unless modified or terminated by the Fund's Trustees.
Label
Element
Value
Risk/Return:
rr_RiskReturnAbstract
Supplement [Text Block]
ck0000076721_SupplementTextBlock
Risk/Return [Heading]
rr_RiskReturnHeading
ESG Managers Growth and Income Portfolio
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Operating Expenses Caption [Text]
rr_OperatingExpensesCaption
Annual Fund Operating Expenses (Expenses You Pay Each Year as a Percentage of the Value of Your Investment)
Fee Waiver or Reimbursement over Assets, Date of Termination
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination
2015-12-31
Expense Example [Heading]
rr_ExpenseExampleHeading
Example of Expenses
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
Risk/Return:
rr_RiskReturnAbstract
Management Fees
rr_ManagementFeesOverAssets
0.50%
[1],[2]
Distribution and/or Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
2.23%
[3]
Acquired Fund Fees and Expenses
rr_AcquiredFundFeesAndExpensesOverAssets
0.69%
[1],[4]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
3.67%
Contractual Reimbursements
rr_FeeWaiverOrReimbursementOverAssets
(1.99%)
[1],[5]
Net Annual Fund Operating Expenses
rr_NetExpensesOverAssets
1.68%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 711
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
1,251
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
2,011
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
4,002
Risk/Return:
rr_RiskReturnAbstract
Management Fees
rr_ManagementFeesOverAssets
0.50%
[1],[2]
Distribution and/or Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
Other Expenses
rr_OtherExpensesOverAssets
2.23%
[3]
Acquired Fund Fees and Expenses
rr_AcquiredFundFeesAndExpensesOverAssets
0.69%
[1],[4]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
3.42%
Contractual Reimbursements
rr_FeeWaiverOrReimbursementOverAssets
(1.99%)
[1],[5]
Net Annual Fund Operating Expenses
rr_NetExpensesOverAssets
1.43%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
146
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
666
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
1,423
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
3,423
Risk/Return:
rr_RiskReturnAbstract
Management Fees
rr_ManagementFeesOverAssets
0.50%
[1],[2]
Distribution and/or Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
1.00%
Other Expenses
rr_OtherExpensesOverAssets
2.23%
[3]
Acquired Fund Fees and Expenses
rr_AcquiredFundFeesAndExpensesOverAssets
0.69%
[1],[4]
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
4.42%
Contractual Reimbursements
rr_FeeWaiverOrReimbursementOverAssets
(1.99%)
[1],[5]
Net Annual Fund Operating Expenses
rr_NetExpensesOverAssets
2.43%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
346
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
965
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
1,906
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
4,306
Expense Example, No Redemption, 1 Year
rr_ExpenseExampleNoRedemptionYear01
246
Expense Example, No Redemption, 3 Years
rr_ExpenseExampleNoRedemptionYear03
965
Expense Example, No Redemption, 5 Years
rr_ExpenseExampleNoRedemptionYear05
1,906
Expense Example, No Redemption, 10 Years
rr_ExpenseExampleNoRedemptionYear10
$ 4,306
[1]
Restated to give effect to contractual changes effective October 1, 2013, assuming assets allocated to certain Sleeve Subadvisers during the most recent fiscal year were instead allocated to mutual funds or ETFs advised or subadvised by such Sleeve Subadvisers.
[2]
This fee is blended, applying the reduced 0.45% management fee to the portion of fund assets allocated to mutual funds or ETFs, and applying previously existing management fees to the portion of fund assets managed directly by Sleeve Subadvisers.
[3]
Restated to reflect cost savings that will result from contractual changes effective October 1, 2013, including contractual reductions in custody and fund accounting service fees.
[4]
Acquired Fund Fees and Expenses represent expenses indirectly borne by the Fund through its investment in other investment companies.
[5]
The Adviser has agreed contractually to reimburse a portion of the Fund's expenses so that the Fund's Other Expenses (excluding management fees, distribution and service fees, interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses and Acquired Fund Fees and Expenses other than those attributable to advisory fees indirectly borne by the Fund through its investment in funds (other than ETFs) advised by the Adviser), as a percentage of its average net assets, do not exceed 0.34% on an annualized basis. This reimbursement arrangement will continue in effect until at least December 31, 2015 unless modified or terminated by the Fund's Trustees.