Religious mutual funds more than doubled in number during the last three years, according to a study released this week by MMA Praxis Mutual Funds.

The study, which was conducted by Thomson Financial [publisher of MFMN], for MMA Praxis, which runs a church-owned fund family, found that the number of U.S. funds that invest based on religious values increased from 34 in 1999 to 75 in 2002, a jump of 121%.

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