Investors looking for an institutional discount on the Praxis Funds
will now have it ten times easier. This week the Goshen, Indiana-based mutual fund family cut the investment minimums on institutional shares for its seven non-asset allocation funds from $1 million to $100,000 [see filing
]. The funds, which hold $709.9 million in total, also offer retail A shares.
-- president of the funds and senior vice president of products and services at the funds' faith-based investment advisor, Everence
(previously called MMA and Mennonite Financial) -- told MFWire.com
that "$1 million is a pretty high hurdle."
"We're just trying to be more accessible to more people, to attract more assets," Gautsche said.
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