Praxis introduces new Small Cap Index Fund
Also new for 2017, lower advisory fees for International Index Fund
Praxis Mutual Funds®, advised by Everence® Capital Management, announces a transition of its Praxis Small Cap Fund to an optimized index investing strategy. Effective Jan. 1, 2017, the Praxis Small Cap Fund became the Praxis Small Cap Index Fund, and now seeks to deliver performance consistent with its new benchmark, the S&P SmallCap 600 Index.
The move allows us to meet investor interest in index strategies with lower expenses, pairing it with the unique Praxis Values + ESG screening. The screening program combines the positive social impact of values screens with risk-based environmental, social and governance screens. The result is a portfolio that attempts to use investors’ money for good and seeks to avoid companies with poor business practices.
The Small Cap Index Fund now parallels the other optimized equity index funds in the Praxis family. Dale Snyder, CFA®, will manage the Fund, along with the Praxis Growth Index Fund and the Praxis Value Index Fund that he has managed since 2013.
As with all the equity funds in the Praxis family, the Praxis Small Cap Index Fund provides a stable platform for shareholder advocacy and values-driven proxy voting. Each Praxis fund also invests up to 1 percent of its assets in community investments, with a goal to open doors of economic opportunity for families and individuals across the U.S. and around the world.
Lower fees for Praxis International Index Fund
Praxis is also introducing breakpoints for its International Index Fund investment advisory fees. This change is expected to lower the Fund’s overall expense ratio by four to five basis points, based on current assets.
About Praxis Mutual Funds and Everence
Praxis Mutual Funds, advised by Everence Capital Management, is a leading faith-based, socially responsible family of mutual funds designed to help people and groups integrate their finances with values. To learn more, visit praxismutualfunds.com.
Everence helps individuals, organizations and congregations integrate finances with faith through a national team of advisors and representatives. Everence offers banking, insurance and financials services with community benefits and stewardship education. To learn more, visit everence.com or call (800) 348-7468.