<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000912900
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MMA PRAXIS MUTUAL FUNDS
001 B000000 811-8056
001 C000000 6144708000
002 A000000 3435 STELZER ROAD
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43219
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 MMA PRAXIS INTERMEDIATE INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 MMA PRAXIS GROWTH FUND
007 C030200 N
007 C010300 3
007 C020300 MMA PRAXIS INTERNATIONAL FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
010 A00AA01 BISYS FUND SERVICES, INC.
010 C01AA01 COLUMBUS
010 C02AA01 OH
010 C03AA01 43219
011 A00AA01 BISYS FUND SERVICES, INC.
011 B00AA01 8-0000
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
012 A00AA01 BISYS FUND SERVICES OHIO, INC.
012 B00AA01 84-0000
012 C01AA01 COLUMBUS
012 C02AA01 OH
<PAGE> PAGE 2
012 C03AA01 43219
013 A00AA01 COOPERS & LYBRAND L.L.P
013 B01AA01 COLUMBUS
013 B02AA01 OH
013 B03AA01 43215
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 SMITH BARNEY
020 C000001 27
020 A000002 EXECUTION SERVICES INC
020 C000002 23
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 17
020 A000004 DONALDSON-LUFKIN JENNERETTE
020 C000004 13
020 A000005 HAMBRECT & QUIST
020 C000005 6
020 A000006 GOLDMAN SACHS
020 B000006 13-5108880
020 C000006 6
020 A000007 PIPER JAFFRAY
020 C000007 3
020 A000008 MERRILL LYNCH
020 B000008 13-5674085
020 C000008 2
020 A000009 PAINE WEBBER
020 C000009 2
020 C000010 0
021 000000 107
022 A000001 MORGAN STANLEY
022 B000001 13-2655998
022 C000001 59227
022 D000001 2778
022 A000002 FIRST BOSTON
022 B000002 13-5659485
022 C000002 29700
022 D000002 0
022 A000003 RAYMOND JAMES
022 C000003 5584
022 D000003 4556
022 A000004 HAMBRECT & QUIST
022 C000004 3894
022 D000004 3251
022 A000005 MORGAN KEAGAN
022 C000005 2145
022 D000005 2009
022 A000006 DONALDON-LUFKIN JENRETTE
022 C000006 1956
022 D000006 638
<PAGE> PAGE 3
022 A000007 BEAR STEARNS
022 B000007 13-3299429
022 C000007 796
022 D000007 550
022 A000008 ASSOCIATE CORP
022 C000008 1224
022 D000008 0
022 A000009 MERRILL LYNCH
022 B000009 13-5674085
022 C000009 466
022 D000009 250
022 A000010 PIPER JAFFRAY
022 C000010 247
022 D000010 213
023 C000000 115153
023 D000000 14245
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
<PAGE> PAGE 4
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 500
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 Y
077 Q030000 N
078 000000 N
080 A00AA00 CHUBB
080 C00AA00 450
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 MMA CAPITAL MANAGEMENT
008 B000101 A
008 C000101 801-0000
<PAGE> PAGE 5
008 D010101 GOSHEN
008 D020101 IN
008 D030101 46527
008 A000102 DELETE
015 A000101 FIFTH THIRD BANK
015 B000101 C
015 C010101 CINCINNATI
015 C020101 OH
015 C030101 45263
015 E010101 X
024 000100 N
025 A000101 DELETE
025 D000101 0
025 A000102 DELETE
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 950
028 A020100 66
028 A030100 0
028 A040100 111
028 B010100 532
028 B020100 34
028 B030100 0
028 B040100 209
028 C010100 594
028 C020100 48
028 C030100 0
028 C040100 443
028 D010100 541
028 D020100 62
028 D030100 0
028 D040100 255
028 E010100 388
028 E020100 59
028 E030100 0
028 E040100 192
028 F010100 323
028 F020100 60
028 F030100 0
028 F040100 164
028 G010100 3328
028 G020100 329
028 G030100 0
028 G040100 1374
028 H000100 0
029 000100 N
<PAGE> PAGE 6
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
034 000100 Y
035 000100 9
036 A000100 Y
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 7
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.500
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
<PAGE> PAGE 7
048 K020100 0.000
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 37.6
062 O000100 0.0
062 P000100 51.1
062 Q000100 10.0
062 R000100 0.0
063 A000100 0
063 B000100 7.9
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
<PAGE> PAGE 8
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 10906
071 B000100 9821
071 C000100 27758
071 D000100 35
072 A000100 6
072 B000100 979
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 71
072 G000100 25
072 H000100 0
072 I000100 30
072 J000100 26
072 K000100 0
072 L000100 7
072 M000100 5
072 N000100 13
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 0
072 S000100 9
072 T000100 143
072 U000100 3
072 V000100 0
072 W000100 38
072 X000100 370
072 Y000100 213
072 Z000100 822
072AA000100 0
072BB000100 23
072CC010100 0
072CC020100 178
072DD010100 773
072DD020100 0
072EE000100 0
073 A010100 0.2600
<PAGE> PAGE 9
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 0
074 D000100 29304
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 461
074 M000100 20
074 N000100 29785
074 O000100 0
074 P000100 9
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 75
074 S000100 0
074 T000100 29701
074 U010100 3034
074 U020100 0
074 V010100 9.79
074 V020100 0.00
074 W000100 0.0000
074 X000100 1727
074 Y000100 0
075 A000100 0
075 B000100 28822
076 000100 0.00
008 A000201 MMA CAPITAL MANAGEMENT
008 B000201 A
008 C000201 801-0000
008 D010201 GOSHEN
008 D020201 IN
008 D030201 46527
015 A000201 FIFTH THIRD BANK
015 B000201 C
015 C010201 CINCINNATI
015 C020201 OH
015 C030201 45263
015 E010201 X
024 000200 N
025 A000201 DELETE
025 D000201 0
<PAGE> PAGE 10
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 3909
028 A020200 52
028 A030200 0
028 A040200 136
028 B010200 2892
028 B020200 0
028 B030200 0
028 B040200 133
028 C010200 2533
028 C020200 0
028 C030200 0
028 C040200 685
028 D010200 3067
028 D020200 78
028 D030200 0
028 D040200 291
028 E010200 1903
028 E020200 0
028 E030200 0
028 E040200 350
028 F010200 1793
028 F020200 1
028 F030200 0
028 F040200 1013
028 G010200 16097
028 G020200 131
028 G030200 0
028 G040200 2608
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 0
034 000200 Y
035 000200 15
036 A000200 Y
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
<PAGE> PAGE 11
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 135
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.740
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
<PAGE> PAGE 12
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
<PAGE> PAGE 13
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 35324
071 B000200 17053
071 C000200 65084
071 D000200 26
072 A000200 6
072 B000200 174
072 C000200 570
072 D000200 0
072 E000200 0
072 F000200 262
072 G000200 36
072 H000200 0
072 I000200 76
072 J000200 25
072 K000200 0
072 L000200 14
072 M000200 11
072 N000200 21
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 22
072 T000200 355
072 U000200 3
072 V000200 0
072 W000200 92
072 X000200 917
072 Y000200 305
072 Z000200 132
072AA000200 3592
072BB000200 0
072CC010200 7253
072CC020200 0
072DD010200 157
072DD020200 0
072EE000200 0
073 A010200 0.0300
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 119
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 83213
074 G000200 0
<PAGE> PAGE 14
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 72
074 M000200 53
074 N000200 83457
074 O000200 0
074 P000200 86
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 25
074 S000200 0
074 T000200 83346
074 U010200 5298
074 U020200 0
074 V010200 15.73
074 V020200 0.00
074 W000200 0.0000
074 X000200 7541
074 Y000200 0
075 A000200 0
075 B000200 71657
076 000200 0.00
008 A000301 MMA CAPITAL MANAGEMENT
008 B000301 A
008 C000301 801-0000
008 D010301 GOSHEN
008 D020301 IN
008 D030301 46527
008 A000302 OECHSLE INTERNATIONAL ADVISORS, L.P.
008 B000302 S
008 C000302 801-28111
008 D010302 BOSTON
008 D020302 MA
008 D030302 02110
015 A000301 BOSTON SAFE DEPOSIT AND TRUST
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02108
015 E040301 X
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
<PAGE> PAGE 15
025 D000307 0
025 D000308 0
028 A010300 0
028 A020300 0
028 A030300 0
028 A040300 0
028 B010300 0
028 B020300 0
028 B030300 0
028 B040300 0
028 C010300 0
028 C020300 0
028 C030300 0
028 C040300 0
028 D010300 5607
028 D020300 0
028 D030300 0
028 D040300 0
028 E010300 822
028 E020300 0
028 E030300 0
028 E040300 0
028 F010300 568
028 F020300 0
028 F030300 0
028 F040300 0
028 G010300 6997
028 G020300 0
028 G030300 0
028 G040300 0
028 H000300 0
029 000300 N
030 A000300 0
030 B000300 0.00
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 0
033 000300 0
034 000300 Y
035 000300 0
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 100
<PAGE> PAGE 16
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 1
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.900
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
<PAGE> PAGE 17
063 A000300 0
063 B000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 Y
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 Y
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 7178
071 B000300 871
<PAGE> PAGE 18
071 C000300 6346
071 D000300 14
072 A000300 3
072 B000300 35
072 C000300 5
072 D000300 0
072 E000300 0
072 F000300 14
072 G000300 25
072 H000300 0
072 I000300 13
072 J000300 16
072 K000300 0
072 L000300 2
072 M000300 1
072 N000300 7
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 7
072 T000300 16
072 U000300 4
072 V000300 0
072 W000300 5
072 X000300 110
072 Y000300 79
072 Z000300 4
072AA000300 58
072BB000300 0
072CC010300 862
072CC020300 0
072DD010300 1
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 559
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 7241
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 31
074 K000300 0
074 L000300 61
<PAGE> PAGE 19
074 M000300 53
074 N000300 7945
074 O000300 0
074 P000300 4
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 20
074 S000300 0
074 T000300 7921
074 U010300 689
074 U020300 0
074 V010300 11.50
074 V020300 0.00
074 W000300 0.0000
074 X000300 449
074 Y000300 0
075 A000300 0
075 B000300 6329
076 000300 0.00
SIGNATURE PENNI RUTKOWSKI
TITLE SUPERVISOR
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912900
<NAME> MMA PRAXIS MUTUAL FUNDS
<SERIES>
<NUMBER> 1
<NAME> MMA PRAXIS INTERMEDIATE INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 29129104
<INVESTMENTS-AT-VALUE> 29303868
<RECEIVABLES> 461320
<ASSETS-OTHER> 19750
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29784938
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 83979
<TOTAL-LIABILITIES> 83979
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29790819
<SHARES-COMMON-STOCK> 3034268
<SHARES-COMMON-PRIOR> 2800868
<ACCUMULATED-NII-CURRENT> 48846
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 313470
<ACCUM-APPREC-OR-DEPREC> 174764
<NET-ASSETS> 29700959
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 979044
<OTHER-INCOME> 0
<EXPENSES-NET> 157086
<NET-INVESTMENT-INCOME> 821958
<REALIZED-GAINS-CURRENT> (22575)
<APPREC-INCREASE-CURRENT> (177503)
<NET-CHANGE-FROM-OPS> 621880
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (772824)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 340715
<NUMBER-OF-SHARES-REDEEMED> 141111
<SHARES-REINVESTED> 33796
<NET-CHANGE-IN-ASSETS> 2132951
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 288
<OVERDIST-NET-GAINS-PRIOR> 290895
<GROSS-ADVISORY-FEES> 71464
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 370263
<AVERAGE-NET-ASSETS> 28822495
<PER-SHARE-NAV-BEGIN> 9.84
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.79
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912900
<NAME> MMA PRAXIS MUTUAL FUNDS
<SERIES>
<NUMBER> 2
<NAME> MMA PRAXIS GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 67146972
<INVESTMENTS-AT-VALUE> 83213485
<RECEIVABLES> 71563
<ASSETS-OTHER> 53145
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 83457249
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 110954
<TOTAL-LIABILITIES> 110954
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 62743898
<SHARES-COMMON-STOCK> 5298288
<SHARES-COMMON-PRIOR> 4340466
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 10387
<ACCUMULATED-NET-GAINS> 4546271
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16066513
<NET-ASSETS> 83346295
<DIVIDEND-INCOME> 569770
<INTEREST-INCOME> 173741
<OTHER-INCOME> 0
<EXPENSES-NET> 611984
<NET-INVESTMENT-INCOME> 131527
<REALIZED-GAINS-CURRENT> 3591722
<APPREC-INCREASE-CURRENT> 7252930
<NET-CHANGE-FROM-OPS> 10976179
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 157283
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1123335
<NUMBER-OF-SHARES-REDEEMED> 175005
<SHARES-REINVESTED> 9492
<NET-CHANGE-IN-ASSETS> 24439566
<ACCUMULATED-NII-PRIOR> 15369
<ACCUMULATED-GAINS-PRIOR> 954549
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 262952
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 917295
<AVERAGE-NET-ASSETS> 71657021
<PER-SHARE-NAV-BEGIN> 13.57
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 2.17
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.73
<EXPENSE-RATIO> 1.72
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912900
<NAME> MMA PRAXIS MUTUAL FUNDS
<SERIES>
<NUMBER> 3
<NAME> MMA PRAXIS INTERNATIONAL FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 6380332
<INVESTMENTS-AT-VALUE> 7240987
<RECEIVABLES> 91841
<ASSETS-OTHER> 53367
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7944807
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23960
<TOTAL-LIABILITIES> 23960
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6997800
<SHARES-COMMON-STOCK> 688920
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3346
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 57568
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 862133
<NET-ASSETS> 7920847
<DIVIDEND-INCOME> 35451
<INTEREST-INCOME> 5278
<OTHER-INCOME> (5286)
<EXPENSES-NET> 31406
<NET-INVESTMENT-INCOME> 4037
<REALIZED-GAINS-CURRENT> 57568
<APPREC-INCREASE-CURRENT> 862133
<NET-CHANGE-FROM-OPS> 923738
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 691
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 688920
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 7920847
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14044
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 109833
<AVERAGE-NET-ASSETS> 6328620
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 1.50
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.50
<EXPENSE-RATIO> 2.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
SUB-INVESTMENT ADVISORY
AGREEMENT
AGREEMENT made this 31st day of March
, 1997, between Menno Insurance Service, Inc.
dba MMA Capital Management (the "Adviser")
, and Oechsle International Advisors (the "Sub-Adviser").
WHEREAS, MMA Praxis Mutual Funds (the "Trust")
is registered as an open-end,
management investment company under the
Investment Company Act of 1940, as amended (the
"1940 Act"); and
WHEREAS, MMA Praxis International Equity
Fund (the "Fund") is a separate investment
series of the Trust; and
WHEREAS, the Adviser has been appointed
investment adviser to the Fund; and
WHEREAS, the Adviser desires to retain the
Sub-Adviser to assist it in the provision of a
continuous investment program for the Fund
and the Sub-Adviser is willing to do so; and
WHEREAS, the Adviser and the Sub-Adviser
are each duly registered with the Securities and
Exchange Commission as investment advisers and
their respective registrations are current and in
good order; and
WHEREAS, the Board of Trustees of the
Trust and the Fund's sole shareholder have
approved this Agreement, and the Sub-Adviser
is willing to furnish such services upon terms and
conditions herein set forth;
NOW, THEREFORE, in consideration of the
premises and mutual covenants herein
contained, it is agreed between the parties hereto as follows;
1. Appointment. The Adviser hereby appoints
the Sub-Adviser to act as sub-adviser to
the Fund. Intending to be legally bound,
the Sub-Adviser accepts such appointment and agrees to
render the services herein set forth for the compensation
herein provided.
2. Sub-Advisory Services. Subject to the
supervision of the Trust's Board of Trustees,
the Sub-Adviser shall assist the Adviser in
providing a continuous investment program with respect to
the Fund's portfolio, including investment research and
management with respect to all securities and
investments and cash equivalents in the Fund.
The Sub-Adviser may, subject to the Adviser's review,
determine the securities and investments to be purchased
, sold or retained by the Fund, and the Sub-Adviser may
place orders directly with the issuer or any broker or
dealer for such securities and
investments. The Sub-Adviser will provide services
under this Agreement in accordance with the
Fund's investment objective, policies and restrictions
as stated in the Fund's prospectus and Statement
of Additional Information and resolutions of the
Trust's Board of Trustees applicable to the Fund.
Sub-Adviser shall have authority to enter into and
execute agreements on behalf of the Fund relating
to the acquisition or disposition of investment assets
and the execution of portfolio transactions
pursuant to Sub-Adviser's management of the Fund
under this Agreement. Such agreements may
include foreign exchange contracts and other
transactional agreements. Nothing contained herein,
however, shall be deemed to authorize Sub-Adviser
to take or receive physical possession of any cash
or securities held in the Fund, it being intended
that sole responsibility for safekeeping thereof (in such
investments as Sub-Adviser shall direct) and the consummation
of all such purchases, sales, deliveries,
and investments made pursuant to Sub-Adviser's
direction shall rest upon the Custodian. The Sub
- -Adviser warrants that all actions taken in the exercise
of the power herein granted to the Sub-Adviser
will be taken solely and exclusively for the benefit of the Fund.
Without limiting the generality of the foregoing,
Sub-Adviser further agrees that it:
(a) will use the same skill and care in providing
such services as it uses in providing
services to fiduciary accounts for which it
has investment responsibilities;
(b) will conform with all applicable Rules
and Regulations of the Commission under
the 1940 Act and in addition will
conduct its activities under this Agreement in
accordance with any applicable regulations
of any governmental authority
pertaining to the investment advisory
activities of the Sub-Adviser;
(c) will place or cause to be placed orders
for the Fund either directly with the issuer of
with any broker or dealer. In placing
orders with brokers and dealers, the Sub-Adviser
will attempt to obtain prompt execution of orders
in an effective manner at
the most favorable price. Consistent with
this obligation and to the extent permitted
by the 1940 Act, when the execution
and price offered by two or more brokers or
dealers are comparable, the Sub-Adviser
may, in its discretion, purchase and sell
portfolio securities to and from
brokers and dealers who provide the Sub-Adviser
with research advice and other services.
In no instance will portfolio securities be
purchased from or sold to BISYS
Fund Services, the Investment Adviser, the
Sub-Adviser or any affiliated person of the
Trust, BISYS Fund Services, the Sub-Adviser
or the Investment Adviser, except to the extent
permitted by the 1940 Act
and the Commission. Any action taken
for the purpose of this Agreement by the
Adviser and/or the Fund, at the discretion
of either or both, with regard to the
placement of securities transactions shall
be the Adviser's and the Fund's sole
liability and responsibility,
including the performance of any broker.
The Sub-Adviser may use one or
more of its affiliated, or other parties related to the
Sub-Adviser, as brokers for effecting securities
transactions for the Fund, and pay,
on behalf of the Fund, fair and
reasonable brokerage commissions therefor, but only
in accordance with procedures adopted by the
Fund pursuant to Rule 17e-1.
The Sub-Adviser may purchase or sell
(or recommend the purchase or sale) for the
Fund any security (including securities
of the same class as those underwritten or
other securities of the same or related
issuer) for which any affiliate of the Sub-Adviser
(including, without limitation, Dresdner Bank,
Dresdner Kleinwort Benson
North America LLC, or any of their related
entities), acts as (1) an underwriter
(either as lead underwriter or
syndicate member), both during the pendency of any
underwriting or selling syndicate and thereafter
(including, without limitation,
during a period of 60 days after the termination
of an underwriting or selling
syndicate) or (2) a market maker, provided
that such security is purchased from a
non-affiliated party;
(d) will maintain or cause to be maintained
all books and records with respect to the
securities transactions of the Fund and
will furnish the Trust's Board of Trustees
with such periodic and special reports
as the Board may request; and
(e) will treat confidentially and as
proprietary information of the Trust all records and
other information relative to the Trust and
the Fund and prior, present, or potential
shareholders, and will not use such records
and information for any purpose other
than performance of its responsibilities
and duties hereunder, or as required by
applicable law, except after prior notification
to and approval in writing by the
Trust, which approval shall not be unreasonably
withheld and may not be withheld
where the Sub-Adviser may be exposed to
civil and criminal contempt proceedings
for failure to comply, when requested to
divulge such information by duly
constituted authorities, or when so
requested by the Trust.
3. Services Not Exclusive. Except as provided
herein, the services furnished by the Sub-Adviser
hereunder are deemed not to be exclusive, and
the Sub-Adviser shall be free to furnish similar
services to others so long as its services under
this Agreement are not impaired thereby. Sub-Adviser
and its affiliates may give advice and take action in
the performance of their duties with respect to any
of their clients with may differ from advice given,
or the timing or nature of action taken, with respect
to the Fund. Nothing in this Agreement shall be
deemed to impose upon the Sub-Adviser any
obligation to purchase or sell or to recommend for
purchase or sale for the Fund any security or other
property which the Sub-Adviser or its affiliates may
purchase or sell for their own account or for the
account of any other client, if in the Sub-Adviser'
s sole discretion, such action or such
recommendation is undesirable or impractical for
the Fund. Nothing in this Agreement shall limit or
restrict the Sub-Adviser or its affiliates from trading
for their own account. The Sub-Adviser and its
affiliates or other clients may have of trade in investments
which are at the same time being traded for
the Fund. The Sub-Adviser shall have no
obligation to acquire for the Fund a position
which the Sub-Adviser or its affiliates may
acquire for their own or the account of another
client, so long as it
continues to be the policy and practice of the
Sub-Adviser not to favor or disfavor any client
or class of
clients in the allocation of investment opportunities.
4. Books and Records. In compliance with
the requirements of Rule 31a-3 under the 1940
Act, the Sub-Adviser hereby agrees that all
records which it maintains for the Trust are
the property of
the Trust and further agrees to surrender promptly
to the Trust any of such records upon the Trust's
request. The Sub-Adviser further agrees to preserve
for the periods prescribed by Rule 31a-2 under
the 1940 Act the records required to be maintained
by Rule 31a-1 under the 1940 Act.
5. Expenses. During the term of this Agreement
, the Sub-Adviser will pay all expenses
incurred by it in connection with its activities
under this Agreement other than the cost of securities'
commodities and other investments (including
brokerage commissions and other transaction charges,
if any) purchased for the Fund.
6. Compensation. For the services provided and
the expenses assumed with respect to the
Fund pursuant to this Agreement, the Sub-Adviser
will be entitled to a fee, computed daily and
payable monthly, calculated at the annual rate of
0.50% of the Fund's average daily net assets.
7. Limitation of Liability. The Sub-Adviser
shall not be liable for any error of judgment or
mistake of law or for any loss suffered by the
Fund in connection with the performance of this
Agreement, except a loss resulting from a breach
of fiduciary duty with respect to the receipt of
compensation for services or a loss resulting from
willful misfeasance, bad faith or gross negligence on
the part of the Sub-Adviser in the performance of its
duties or from reckless disregard by it of its
obligations and duties under this Agreement. The
federal and state securities laws impose liabilities
under certain circumstances on persons who act in
good faith, and therefore nothing herein shall in any
way constitute waiver or limitation of any rights
which the undersigned may have under any federal
and state securities laws.
8. Duration and Termination. Unless sooner
terminated, this Agreement shall continue until
March 31, 1998, and thereafter shall continue
automatically for successive annual periods, provided
such continuance is specifically approved at least
annually by the Trust's Board of Trustees or vote of
the lesser of (a) 67% of the shares of the Fund represented
at a meeting if holders of more than 50% of
the outstanding shares of the Fund are present in
person or by proxy or (b) more than 50% of the
outstanding shares of the Fund, provided that in
either event its continuance also is approved by a
majority of the Trust's Trustees who are not
"interested persons" (as defined in the 1940 Act) of any
party to this Agreement (the "Independent Trustees"),
by vote cast in person at a meeting called for the
purpose of voting on such approval. This Agreement
is terminable at any time without penalty, on 60
days' notice, by the Adviser, the Sub-Adviser or
by the Trust's Board of Trustees or by vote of the
lesser of (a) 67% of the shares of the Fund represented
at a meeting if holders of more than 50% of the
outstanding shares of the Fund are present in
person or by proxy or (b) more than 50% of the
outstanding shares of the Fund. This Agreement
will terminate automatically in the event of its
assignment (as defined in the 1940 Act).
9. Sub-Adviser's Representations. The Sub-Adviser
hereby represents and warrants that it
is willing and possesses all requisite legal
authority to provide the services contemplated by this
Agreement without violation of applicable law and regulations.
10. Amendment of this Agreement. No provision
of this Agreement may be changed, waived,
discharged or terminated orally, but only by
an instrument in writing signed by the party against which
enforcement of the change, waiver, discharge or
termination is sought.
11. Governing Law. This Agreement shall
be governed by and its provisions shall be
construed in accordance with the laws of the State of Delaware.
12. Notices. All notices, instructions, or
advice permitted or required under this Agreement
shall be deemed to have been properly given if sent
by registered U.S. Mail, first class postage
prepared, return receipt requested, or by
overnight courier, all addressed as follows:
If to the Fund:
Attention: J.B. Miller
MMA
1110 N. Main St.
Goshen, IN 46526
Fax Number 219-534-4381
If to the Sub-Adviser:
OECHSLE INTERNATIONAL ADVISORS, L.P.
James MacMillan
One International Place
23rd Floor
Boston, Massachusetts 02110
13. The Fund and the Adviser acknowledge
receipt of the Sub-Adviser's Form ADV, Part II,
at least 48 hours in advance of entering into this
Agreement.
14. Any term or provision of this Agreement
that is invalid or unenforceable in any
jurisdiction shall, as to such jurisdiction,
be effective to the extent of such invalidity or
unenforceability without rendering invalid or
unenforceable the remaining terms or provisions of this
Agreement in any other jurisdiction.
15. The Sub-Adviser agrees that it will notify
the Adviser and the Fund promptly of any
change in its partnership membership.
IN WITNESS WHEREOF, the parties
thereto have caused this instrument to be executed by
their officers designated below as of the day and year
first above written.
MENNO INSURANCE SERVICE, INC. dba
MMA CAPITAL MANAGEMENT
By:
Name: Marlo Kaufman
Title: Assistant Secretary
OECHSLE INTERNATIONAL ADVISORS
By: Oechsle Group, L.P., Its General Partner
By:
Name: Stephen P. Langer
Title: Partner
