MIAMI, July 24, 2014 /PRNewswire/ -- Community Capital Management, Inc. (CCM), a privately-held and independent investment firm, announced today that its flagship fund, the CRA Qualified Investment Fund (the "Fund") (tickers: CRAIX/CRANX/CRATX) has been re-classified into Morningstar's Intermediate Government category. The Fund was formerly in the Intermediate-Term Bond category.
"The investment strategy of the Fund remains the same – investing in high credit quality fixed income securities whose proceeds are designed to positively impact communities through the country," said Barbara VanScoy, chief impact investment officer of CCM. "The Fund is a much better fit for the Morningstar Intermediate Government category due to its high level of investments in agency mortgage-backed securities (MBS) and lack of investments in corporate bonds and non-agency MBS sectors."
David Sand, CCM's chief investment strategist, added: "We are excited about the category re-classification. It is a better representation of the Fund's strategy as its risk/return profile and correlation is more consistent with the Intermediate Government category."
As of June 30, 2014, the Fund has over $1.5 billion in assets and its three-year annualized returns are 2.38% (CRAIX); 2.84% (CRANX); and 2.49% (CRATX). The Morningstar Intermediate Government category returned 2.37% for the same time period.
About Community Capital Management, Inc.
Community Capital Management, Inc. (CCM) is an independently-owned, client-focused, registered investment adviser. Headquartered in Fort Lauderdale, Florida with offices in Charlotte, North Carolina and Boston, Massachusetts, the firm was founded in 1998 and currently manages approximately $2 billion in assets as of 6/30/14. CCM's flagship intermediate fixed income impact investing strategy is available as a separate account or via a mutual fund (CRA Qualified Investment Fund). Other products managed by CCM include the CCM Alternative Income Fund and separate account strategies in tax-exempt fixed income impact investing and short duration. For more information, please visit www.ccmfixedincome.com.
The performance quoted represents past performance. Past performance 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 total annual operating expense for the CRA Shares (CRAIX), Institutional Shares (CRANX) and Retail Shares (CRATX) is 0.93%, 0.48%, and 0.83%, respectively.
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 not diversified. 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. The CRA Qualified Investment Fund is distributed by SEI Investments Distribution Co. (SIDCO) which is not affiliated with Community Capital Management or any other affiliate.
Logo - http://photos.prnewswire.com/prnh/20090915/FL72153LOGO
SOURCE Community Capital Management, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article