Community Capital Management Releases New Investment Overview for Religious Organizations on its Impact Bond Strategy
FT. LAUDERDALE, FL (May 6, 2015)
Maryknoll Fathers and Brothers has invested $15 million in Community Capital's impact bond strategy since 2008.
Community Capital Management, Inc. (CCM), a leading fixed income impact investing manager, today announced a new investment overview available to religious organizations on its impact bond strategy. The overview showcases how CCM's positive fixed income impact investing strategy can be an ideal opportunity for religous organizations looking to align their investments with their mission in a market-rate vehicle. The new document is available at www.ccmfixedincome.com.
One religious organization utilizing CCM's positive fixed income approach is Maryknoll Fathers and Brothers (Catholic Foreign Mission Society of America, Inc.). On behalf of the organization, CCM has invested 100% of their portfolio in high credit quality fixed income securities that finance a variety of community and social initiatives nationwide such as affordable housing, enterprise development, redevelopment of distressed or blighted communities, environmental sustainability, healthy communities, and disaster recovery. To date, their $15 million portfolio has had a $25 million impact in financing community development initiatives.
As an investor, Maryknoll Fathers and Brothers recently participated in a bond financing the redevelopment of Crescent Apartments, an affordable rental property in Reston, Virginia, adjacent to the Lake Anne Revitalization District. The existing units were redeveloped resulting in additional affordable and workforce housing units. The renewed Lake Anne Village Center will enhance Reston's established goals and embrace the objectives of Fairfax County's Comprehensive Plan to promote a vibrant and diverse mixed-use community.
"As a religious organization that reaches out to those who are most in need, regardless of culture, language or tradition, aligning our investments with our mission was an easy decision," said Fr. Joseph La Mar, M.M., assistant CFO of Maryknoll Fathers and Brothers. "We chose CCM for the fixed income portion of our impact investing program as they have spent the last 16 years pioneering market-rate impact investing with portfolios of bonds customized to the geographic and impact-related mandates of their clients."
"Maryknoll Fathers and Brothers is leading the way for religious organizations of all sizes to devote a portion of their assets to assist in community development," said David Sand, chief investment strategist at CCM. "We hope that other religious organizations will follow in their footsteps and we believe fixed income is a great place to start. Our new religious bond strategy overview provides useful information on CCM's strategy, advantages, and investment examples and that it follows the United States Conference on Catholic Bishops Socially Responsible Investment Guidelines. The goal in its creation is for religious organizations to better understand CCM's process and how it aligns well with their missions."
About Community Capital Management, Inc.
Community Capital Management, Inc. (CCM) is an independently-owned investment adviser registered with the Securities and Exchange Commission. Headquartered in Fort Lauderdale, Florida with offices in Charlotte, North Carolina and Boston, Massachusetts, the firm was founded in 1998 and currently manages $2 billion in assets as of 3/31/15. CCM's flagship intermediate fixed impact investing strategy is available as a separate account or via a mutual fund. Other products managed by CCM include a liquid alternative income fund and customized separate account strategies. For more information, please visit www.ccmfixedincome.com.
Community Capital Management, Inc. is a Florida-based investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.