CRA Qualified Investment Fund Earns Top Spot for Intermediate Government Funds in 2017 Morningstar Rankings
Investors can also target specific impact themes or geographies within the Fund.
Ft. Lauderdale, FL, January 17, 2018: Community Capital Management, Inc. (CCM), a leading impact investing manager, is pleased to share that its flagship product, the CRA Qualified Investment Fund Institutional Shares (Ticker: CRANX), was the best performer in its intermediate government category of 250 funds, as measured by Morningstar Inc. for the one-year ending December 31, 2017. The Fund has $2.2 billion in assets among three share classes (CRAIX/CRANX/CRATX).
CCM’s Chief Impact Strategist, David Sand, commented, “We are extremely proud of the Fund’s performance in 2017 and equally proud of our unique ability to implement earmarking – the ability for clients to direct their investments from an impact perspective – within the Fund. Both achievements confirm our 18-year belief that investors can make a real impact within a government bond fund.”
Alyssa Greenspan, president and COO, added: “CRANX had an outstanding year in terms of its performance, impact, and initiatives.” In outlining 2017 highlights for CRANX, Greenspan pointed to the following achievements:
- #1 in its Morningstar Category
- Over $875 million invested in environmental and social initiatives as directed by clients through our exclusive and patent-pending earmarking technology
- The creation of our first annual impact awards where clients unanimously voted for Barrier Free Living as the best investment story of the year; Barrier Free Living is the largest provider in the nation of domestic violence intervention services for people with disabilities
- Ongoing support of the divest/invest movement as a fossil fuel free bond fund
“We are enormously gratified of the year CRANX had and are excited to see our investor base continue to grow amongst foundations, religious organizations, endowments, not-for-profits, healthcare companies, and high net worth investors,” said Sand. “Thanks to these investors ongoing commitment to our firm and impact investing, we have invested over $8.3 billion, since inception, in impact initiatives nationwide on their behalf.”
The CRA Qualified Investment Fund is managed by an experienced team of investment professionals and primarily invests in high credit quality agency- and government-guaranteed mortgage-backed securities as well as taxable municipal bonds and asset-backed securities. Since its inception* (3/2/07) through December 31, 2017, the institutional share class’ annualized total return is 3.55% and its 30-day SEC Yield as of December 31, 2017 is 2.42%.
Community Capital Management, Inc.
Community Capital Management, Inc. is an investment adviser registered with the Securities and Exchange Commission. Headquartered in Fort Lauderdale with offices in Charlotte, Boston, and the greater New York City area, the firm was founded in 1998 and manages $2.5 billion in assets as of 12/31/17. CCM’s flagship core 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.ccminvests.com.
As of 12/31/17, the average annual total returns for CRANX for 1-year, 5-year, 10-year and since CRANX inception were 2.73%, 1.51%, 3.40%, and 3.55%. The performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For performance data current to the most recent month-end, please call 866-202-3573. The expense ratio for CRANX is 0.45%. As of 12/31/17, the investment that included a loan to Barrier Free Living represented 0.51% of the Fund’s assets.
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 CRA Qualified Investment Fund is not diversified. The Fund is distributed by SEI Investments Distribution Co. (SIDCO) which is not affiliated with Community Capital Management.
Carefully consider the risks, investment objectives, charges and expenses of the Fund before investing. The prospectus contains this and other important information. Call 866-202-3573 for a prospectus. Please read the prospectus carefully before investing. Community Capital Management, Inc. is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
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The Morningstar Rating is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts). Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. CRANX was ranked 33 out of 221 funds over five years and 48 out of 167 funds over ten years. Rankings for the other share classes may vary.
*The flagship CRA Qualified Investment Fund CRA share class (CRAIX) was launched in August of 1999.