Community Capital Management Launches $100 Million Initiative to Invest in COVID-19 Relief Efforts
Funds raised will look to invest in market-rate bonds financing a variety of community development activities including economic recovery programs, small businesses, and affordable housing.
Ft. Lauderdale, FL, May 6, 2020: Community Capital Management, Inc. (CCM), a leading fixed income impact investing manager, announced today an initiative to invest $100 million of assets in COVID-19 relief efforts.
“For organizations that wish to contribute to the long-term recovery efforts of COVID-19, this initiative offers an opportunity to complement their philanthropic and volunteer efforts through a seasoned fixed income strategy designed to provide high current income consistent with the preservation of capital,” said Alyssa Greenspan, CCM’s president and COO. “This initiative follows in line with others we have launched over our 20-year history for small businesses, rural community development, and disaster recovery relief.”
“Our flagship core fixed income strategy looks to invest in high-quality, well-researched bonds that have positive societal impacts, requiring transparency into the use of proceeds and measurement of their anticipated corresponding impact. The use of proceeds for every bond purchased must positively impact a community and align with one or more of our 18 impact themes,” said David Sand, chief impact strategist. “For this initiative, we anticipate that many of our existing impact themes will correspondingly align including disaster recovery, resilience, and remediation; affordable health and rehab care; and enterprise development and jobs, among others.”
Investments in the initiative will look to cover a broad sector of bonds including:
- Agency mortgage-backed securities (MBS) financing loans to low- and moderate-income (LMI) borrowers
- Agency commercial mortgage-backed securities (CMBS) financing affordable rental housing properties, many of which are helping with COVID-19 relief efforts
- Taxable municipal bonds financing economic development initiatives, primarily in LMI communities
- Corporate bonds financing COVID-19 relief efforts
- Asset-backed securities (ABS) financing small businesses, job creation, and economic inclusion opportunities
Sand added: “All of us have a role to play in the recovery of this widespread health emergency. We have already seen some examples of market-rate investments supporting relief efforts and we hope to see many more. We will also look to incorporate new areas of focus such as neighborhoods hardest hit by COVID-19 job losses.”
“We expect tremendous social and economic strains on society as a result of this crisis and its repercussions,” said Jamie Horwitz, chief marketing officer. “Underserved communities and individuals are likely to be hardest hit so our mandate from clients to provide needed capital to low- and moderate-income communities and families is more important than ever.”
For more information on the Initiative, please visit www.ccminvests.com.
Community Capital Management, Inc.
Community Capital Management, Inc. (CCM) is an investment adviser registered with the Securities and Exchange Commission. Headquartered in Fort Lauderdale with employees in Boston, Charlotte, the New York City area, and Southern California, CCM was founded in 1998 and manages approximately $2.8 billion in assets. The firm believes a fully integrated portfolio – one that includes environmental, social and governance (ESG) factors – can deliver strong financial performance while simultaneously having positive long-term economic and sustainable impact. For more information, please visit: www.ccminvests.com.
Community Capital Management, Inc. (“CCM”) is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. The verbal and written communications of an investment adviser provide you with information you need to determine whether to hire or retain the adviser. Past performance is not indicative of future results. CCM has distinct investment processes and procedures relating to the management of investment portfolios for institutional clients. The firm’s strategies are customized, rather than model-based, and utilize an innovative approach to fixed income and equity by combining the positive outcomes of impact and environmental, social, and governance (“ESG”) investing with rigorous financial analysis, an inherent focus on risk management, and transparent research. Bonds are subject to interest rate risk and will decline in value as interest rates rise. Stocks will fluctuate in response to factors that may affect a single company, industry, sector, or the market as a whole and may perform worse than the market. A sustainable investment strategy which incorporates ESG criteria may result in lower or higher returns than an investment strategy that does not include such criteria. A full list of regulatory disclosures for Community Capital Management, Inc. are available by visiting: https://www.ccminvests.com/regulatory-disclosures/.