CRA Qualified Investment Fund Announces $100 Million Initiative To Invest In Hurricane Sandy Recovery Efforts

FT. LAUDERDALE, Fla., Dec. 3, 2012 /PRNewswire/ -- Community Capital Management, Inc., a leading fixed income impact investing manager, announced today that its flagship fund – the CRA Qualified Investment Fund – will dedicate $100 million of fund assets to invest in New York, New Jersey, Connecticut and other damaged portions of the Northeast.

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Barbara VanScoy, senior portfolio manager of the Fund, said: "The devastation of Hurricane Sandy is heartbreaking and lives have been forever changed as a result.  In 2005, the CRA Qualified Investment Fund announced a $100 million initiative in dedicated funds towards post-Hurricane Katrina and Rita recovery efforts and we are confident that this endeavor will garner similar relief. We will be actively working with underwriters to ensure that disaster recovery and redevelopment projects are eligible financing opportunities and anticipate this to be a large focus of our portfolio as has been after past disasters."

"Many communities along the East Coast were hard hit by Hurricane Sandy, and HSBC and our employees are contributing to relief efforts," said Phil Deterville, vice president of community development, HSBC Bank USA, one of the largest investors in the CRA Qualified Investment Fund. "Our support for the Community Capital Management initiative is another way that we can help impacted neighborhoods – including those where our customers and employees work and live – recover and rebuild after the storm."

With approximately $1.5 billion in assets, the Fund is one of the nation's largest mutual funds exclusively dedicated to investing in bonds that finance community and economic development initiatives such as affordable housing, job creation, small business development, affordable healthcare facilities, schools, and neighborhood revitalization activities.  The Fund offers three share classes – the Community Reinvestment Act (CRA) Shares (Ticker: CRAIX), created for banks to help meet the requirements of the CRA; the Institutional Shares (Ticker: CRANX) for non-financial institutional investors; and the Retail Shares (Ticker: CRATX) for individual investors.

Since 1999, the Fund has invested over $4 billion in economic and community development initiatives on behalf of its shareholders, generating results that make a powerful impact: $126 million in job creation and small business development; 215,500 affordable rental housing units; $28 million in affordable healthcare facilities; $165 million in economic development, environmentally sustainable initiatives and neighborhood revitalization activities; 9,200 home mortgages for low- and moderate-income families; and $467 million in down payment assistance and statewide homeownership programs (approximate figures as of 9/30/12).

About Community Capital Management, Inc. and the CRA Qualified Investment Fund
Community Capital Management, Inc. is a Fort Lauderdale-based SEC-registered investment adviser.  The firm was founded in 1998 to provide fixed income investment services to institutional investors.  Its clients include public funds, foundations, financial institutions, faith-based investors, and mission-related investors.  The CRA Qualified Investment Fund was launched in 1999 and has grown to include investments from more than 300 banks/thrifts and other types of investors interested in its impact investing strategy. Community Capital Management manages over $1.8 billion in assets and offers institutional investors its investment strategy via a separate account or a mutual fund.  For more information, please visit Community Capital at www.ccmfixedincome.com and/or the CRA Qualified Investment Fund at www.crafund.com.

Investing involves risk including the loss of principal.  Bonds 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.

SOURCE Community Capital Management, Inc.