For the first time in its 21-year history, Praxis Mutual Funds® reached $1 billion in assets under management on March 30, 2016. This achievement marks a significant step in cementing its reputation in the social investment industry as a fund family that offers both positive impact and strong financial performance.
“Praxis’ long-standing commitments to economic inclusion through community development investing, proactive investment in green and positive impact bonds, transformative corporate engagement and the integration of values-based screening places us at the forefront of many impact investing trends,” said Mark Regier, Praxis Mutual Funds Director of Sales and Everence® Vice President of Stewardship Investing. “Developed from an Anabaptist faith perspective, the fund family has grown to appeal to faith-based and socially conscious investors of many persuasions.”
This milestone caps record sales in 2014 and 2015, and first-quarter sales put the funds on pace for an even better year in 2016. These figures demonstrate the growing appreciation for investments that make a difference.
“Praxis’ success today has been built on the solid foundations laid by leaders and staff over the years,” said Chad Horning, President of Praxis Mutual Funds and Everence Chief Investment Officer. “Their vision for impact investing was critical in getting us to this milestone and will be important to our growth long into the future.”
In recent years, there has been a substantial increase in Praxis sales from investors coming through platforms such as Merrill Lynch, Ameriprise, Envoy Financial, LPL Financial and First Affirmative, recognizing the importance of investments that make a difference.
“Crossing the $1 billion threshold represents a coming-of-age event for a mutual fund family,” said Benjamin Bailey, Senior Fixed Income Manager, Praxis Mutual Funds. “We are grateful for the trust our shareholders have placed in us – to not only provide for their financial future, but to actively represent their drive for positive change in our world.”