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Rating:Praxis Widens its Institutional Net Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 19, 2011

Praxis Widens its Institutional Net

Reported by Neil Anderson, Managing Editor

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.

Dave Gautsche -- 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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