CCM Community Impact Bond Fund

The CCM Community Impact Bond (CIB) Fund (the Fund) is an investment-grade, intermediate duration bond fund that seeks to preserve capital, deliver attractive risk-adjusted returns, and serve as the ballast in a portfolio while investing in well-researched bonds that have direct and measurable positive societal impacts.

The Fund’s investment objective is to provide a high level of current income consistent with the preservation of capital through investments that Community Capital Management, LLC (the “Advisor”) believes will have a positive impact. The Fund’s impact criteria primarily focus on the use of bond proceeds and documentation of their expected environmental and social outcomes, with most bonds qualifying under the Community Reinvestment Act (CRA) of 1977. An additional offering is customization where shareholders meeting minimum requirements can tailor their capital to support specific geographies, impact themes, or impact initiatives, a benefit accompanied by customized impact reporting.

The CCM Community Impact Bond CRA Shares (f/k/a the CRA Qualified Investment Fund CRA Shares) was launched in 1999 to help banks meet the investment test requirements of the CRA. The Fund is one of the nation’s largest mutual funds of community development investments. Clients include nearly 400 banks nationwide – from large, national banks to local, community banks – with each bank shareholder receiving customized and extensive CRA reporting for their earmarked investments. The Fund offers CRA targeting where bank shareholders can direct their capital to support specific assessment areas and receive customized CRA reporting for each investment earmarked, noting the primary purpose is community development.

The CCM Community Impact Bond Fund Institutional Shares (f/k/a the CRA Qualified Investment Fund Institutional Shares) was launched in 2007 given the growth in demand for impact and ESG investments from non-financial institutional investors including faith-based investors, endowments, foundations, healthcare organizations, insurance companies, non-profits, public funds, and high net worth. The Fund offers customizable impact where institutional investors meeting minimum requirements can direct their capital to support specific geographies, impact themes, and/or impact initiatives, a benefit accompanied by impact reporting.

The CCM Community Impact Bond Fund Retail Shares (f/k/a the CRA Qualified Investment Fund Retail Shares) was launched in 2007 given the growth in demand for impact and ESG investments from individual investors. The Fund invests in bonds financing impact and ESG initiatives nationwide and provides shareholders quarterly financial and impact fact sheets in addition to quarterly commentary.

Fund Essentials (CRAIX) as of 03/31/2024

Inception Date
8/30/99
CUSIP
20368N103
Expense Ratio
0.89%
Strategy
Intermediate Core
Impact Customization
Yes
Impact Customization Minimum
$500,000
Dividend Frequency
Monthly
Benchmark
Bloomberg Intermediate U.S. Aggregate Index
CCM Impact
$15.8 billion

Month-End Data (CRAIX) as of 05/31/2024

NAV
$9.25
Distribution
0.023661
30-Day SEC Yield
3.07
Total Fund Assets
$3.4 billion

Fund Essentials (CRANX) as of 03/31/2024

Inception Date
3/2/2007
CUSIP
20368N202
Expense Ratio
0.44%
Strategy
Intermediate Core
Impact Customization
Yes
Impact Customization Minimum
$1,000,000
Dividend Frequency
Monthly
Benchmark
Bloomberg Intermediate U.S. Aggregate Index
CCM Impact
$15.8 billion

Month-End Data (CRANX) as of 05/31/2024

NAV
$9.24
Distribution
0.027187
30-Day SEC Yield
3.52
Total Fund Assets
$3.4 billion

Fund Essentials (CRATX) as of 03/31/2024

Inception Date
3/2/2007
CUSIP
20368N301
Expense Ratio
0.79%
Strategy
Intermediate Core
Impact Customization
No
Impact Customization Minimum
N/A
Dividend Frequency
Monthly
Benchmark
Bloomberg Intermediate U.S. Aggregate Index
CCM Impact
$15.8 billion

Month-End Data (CRATX) as of 05/31/2024

NAV
$9.24
Distribution
0.024436
30-Day SEC Yield
3.17
Total Fund Assets
$3.4 billion

Performance %

YTD
1-YR
5-YR
10-YR
SI
CRAIX
-0.93
1.15
-0.70
0.61
2.97
CRANX
-0.65
1.61
-0.25
1.05
2.37
CRATX
-0.79
1.36
-0.58
0.71
2.02
Bloomberg Intermediate U.S. Aggregate Index
-0.87
-2.05
0.23
1.25
-

Returns greater than 1 year are annualized. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception CRAIX Inception: 08/30/99; CRANX Inception: 03/02/07; CRATX Inception: 03/02/07
Performance quoted is past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. An investor’s investment return and principal value will fluctuate, so that your shares when redeemed may be worth more or less than your initial cost.

Documents

Effective March 1, 2021, the Fund’s name changed from CRA Qualified Investment Fund to CCM Community Impact Bond Fund.

Mutual fund investing involves risk including the loss of principal. Bond and bond funds are subject to interest rate risk and will decline in value as interest rates rise. The Fund is non-diversified. There is no guarantee the objective of the Fund will be achieved. This fund involves impact and ESG Risk. The Adviser may select or exclude securities of certain companies for reasons other than performance and, as a result, the Fund may underperform other funds that do not use an impact and ESG screening process. Impact and ESG investing is qualitative and subjective by nature. There is no guarantee that impact and ESG criteria used by the Adviser will reflect beliefs or values of any particular investor.

The Bloomberg Intermediate U.S. Aggregate Index is the Intermediate component of the U.S. Aggregate Index. Securities must have a maturity from 1 up to (but not including) 10 years for all sectors except for Securitized (MBS, ABS, CMBS), which does not have a maximum weighted average maturity (MBS) or remaining average life (ABS, CMBS) constraint. You cannot invest directly in an index.

Carefully consider the risks, investment objectives, charges and expenses of the Fund before investing. The prospectus contains this and other important information. The prospectus is available via the link above. Please read the prospectus carefully before investing. The CCM Community Impact Bond Fund is distributed by SEI Investments Distribution Co. (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Community Capital Management or any other affiliate.