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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