CRAFund Advisors is Now Community Capital Management.New Name Represents Manager's Community-Based Investment Style FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla. -- CRAFund Advisors, Inc. has changed its name to Community Capital Management, Inc. to better reflect the focus of its unique, community-based investment approach. The Ft. Lauderdale, Florida-based investment manager, founded in 1998, has become one of the nation's largest fixed income money managers focused exclusively on securities that finance community development activities. Since inception, through institutional clients' separate accounts and through the mutual fund it manages, The CRA See Community Reinvestment Act. Qualified Investment Fund (CRAIX), Community Capital Management has directed the purchase of at least $2 billion worth of bonds that have financed hundreds of thousands of affordable housing units, supported affordable healthcare, contributed to environmental restoration, and helped spur job creation and job training among other community and economic development activities. "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 New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). 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 Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. (CRA). More than 300 financial institutions, including mega-banks such as Citibank, Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. and Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. 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 Charles Schwab can refer to:
About Community Capital Management and The CRA Qualified Investment Fund Ft. Lauderdale, Florida-based Community Capital Management is a GIPS GIPS - /gips/ or /jips/ [Analogy with MIPS] Giga-Instructions per Second (or possibly "Gillions of Instructions per Second"; see gillion). In 1991, this was used of only a handful of highly parallel machines and one sequential processor built with Josephson devices. ([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 re·vi·tal·ize tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. and brownfield See greenfield. 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 SIDCO Small Industries Development Corporation SIDCO Suburban Industrial Development Company ) which is not affiliated with Community Capital Management, Inc. or any other affiliate. |
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