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PAX WORLD BALANCED FUND
 
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Pax World Funds Series Trust I


Pax World Balanced Fund


Supplement Dated January 2, 2015


to the


Prospectus


Dated June 4, 2014


Effective January 2, 2015, the Prospectus is amended, as follows:


Page 7

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The third paragraph under Principal Investment Strategies is replaced in its entirety with the following:


With respect to the equity portion of its portfolio, the Balanced Fund’s portfolio managers seek to manage a high conviction, core growth portfolio of primarily large cap securities with a smaller allocation to core, mid- and small-cap securities of high quality, attractively valued companies.  The portfolio managers utilize investment processes combining fundamental analysis with a focus on valuation and volatility reduction.