Praxis invests in initial Education Youth and Employment Bond
Bond purchase supports programs addressing education, youth and employment
The Praxis Intermediate Income Fund has purchased $2.5 million in the first ever Education, Youth and Employment (EYE) Bond through the Inter-American Development Bank, continuing the Praxis Mutual Funds’ commitment to making high impact investments.
Issued on Sept. 17, 2014, the new EYE Bond offering is designed to support loans that specifically focus on education, youth and employment programs in the Caribbean and Latin America. The Inter-American Development Bank is a multifaceted financial institution whose projects promote sustainable growth, poverty reduction and social equity programs in that same region. In addition, the Inter-American Development Bank is committed to bringing about development in a sustainable, climate-friendly way.
“We are excited to be part of this inaugural EYE Bond, and being part of an effort to improve the lives of children and young adults,” said Benjamin J. Bailey, CFA, Co-Manager of the Praxis Intermediate Income Fund. “This bond fits seamlessly with our goal to purchase investments that make financial sense and also benefit the global community. It’s one way we are investing in what matters.”
Praxis Mutual Funds, advised by Everence Capital Management, is a leader in green bond investments – and the Praxis Intermediate Income Fund has a history of purchasing bonds that make a social impact. In 2009, the Praxis Intermediate Income Fund became one of the first socially responsible investors to purchase a U.S. dollar denominated World Bank green bond.
High social impact investments now make up more than 15 percent of the Praxis Intermediate Income Fund. In addition to the EYE Bond, market rate investments also include bonds in auto industry asset-backed securities, real estate investment trust green bonds, solar and wind installations, affordable housing, vaccines, medical research and community infrastructure. The Fund’s high social impact investments also include community development investments, benefitting disadvantaged communities nationally and abroad.
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 faith 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 financial services with community benefits and stewardship education. To learn more, visit everence.com or call (800) 348-7468.