After nearly a decade working with banks to direct investment dollars to underserved communities and produce competitive returns, we're now expanding our focus to include mission-based investors such as foundations, faith-based organizations, pension funds, and other investors who seek an investment style that aims to deliver positive social impact and competitive returns
FORT LAUDERDALE, Fla. (PRWEB) August 27, 2007
"After nearly a decade working with banks to direct investment dollars to underserved communities and produce competitive returns, we're now expanding our focus to include mission-based investors such as foundations, faith-based organizations, pension funds, and other investors who seek an investment style that aims to deliver positive social impact and competitive returns," said David K. Downes, Chief Executive Officer of Community Capital Management. "As we broaden our focus, these organizations will recognize that is exactly what we deliver. Hopefully, that means more capital will make its way to the communities that need it most."
Recently, communities and families across New Mexico benefited from Community Capital Management's investment on behalf of its clients in bonds that are financing the state's HERO (Home Equity Required Occupation) Program, which funds affordable mortgage programs and down payment assistance for households in which at least one member is a police officer, nurse, teacher, firefighter, or an active member of the armed forces.
Community Capital Management's previous name, CRAFund Advisors, was based on its $725-million flagship mutual fund, the CRA Qualified Investment Fund, which is comprised of bonds that meet federal banking agencies' guidelines as "qualified investments" under the Community Reinvestment Act (CRA). More than 300 financial institutions, including mega-banks such as Citibank, Wells Fargo and Washington Mutual own shares in the Fund, in part, because these companies may earn CRA credit as a result of the community development impact of the Fund's investments. Individual investors may also purchase shares in the Fund through several mutual fund platforms including those offered by Charles Schwab, TD Ameritrade, and Fidelity.
About Community Capital Management and The CRA Qualified Investment Fund
Ft. Lauderdale, Florida-based Community Capital Management is a GIPS(R) compliant investment manager that manages fixed income portfolios, including the CRA Qualified Investment Fund. The company seeks to earn competitive returns while promoting economic and community development activities such as affordable housing, small business growth, workforce development, and environmental restoration.
Since 1999, the company's geographically- and economically-targeted investments have directed at least $2 billion toward community initiatives in all 50 states. Its investments have financed 128,000 affordable rental housing units; 4,600 home mortgages for low- and moderate-income families; $30 million in affordable health care facilities; $93 million in job training and job creation initiatives; $139 million in community development activities including neighborhood revitalization and brownfield development; and $295 million in down payment assistance and statewide home-ownership programs. For additional information, call 877-272-1977.
Carefully consider the risks, investment objectives, charges and expenses of the Fund before investing. Mutual fund investing involves risk including the loss of principal. The prospectus contains this and other important information. Call 866-202-3573 for a prospectus. Please read the prospectus carefully before investing.
Bond and bond funds generally decline in value as interest rates rise.
The CRA Qualified Investment Fund is distributed by SEI Investments Distribution Co. (SIDCO) which is not affiliated with Community Capital Management, Inc. or any other affiliate.
This news release was originally distributed on February 1, 2007 and was posted online on August 15, 2007. For more information about the content of this release, contact Daniel Weinbach at 305-668-0070 or firstname.lastname@example.org.