CRA Fund Celebrates 15th Anniversary

Innovative CRA Investment Vehicle for Banks Reaches Milestone

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Sep 02, 2014, 02:11 ET

FT. LAUDERDALE, Fla., Sept. 2, 2014 /PRNewswire/ -- Community Capital Management, Inc. (CCM) announced today that its flagship fund, the CRA Qualified Investment Fund CRA Share Class (the "Fund") (ticker: CRAIX), is celebrating its 15^th anniversary.

The Fund, which has over $1.5 billion in assets and is one of the nation's largest community investing bond funds, invests in high credit quality fixed income securities whose proceeds are designed to positively impact communities throughout the U.S. It was launched in 1999 to help banks garner positive consideration on the investment test portion of their Community Reinvestment Act (CRA) exams. The CRA, enacted by Congress in 1977, requires that banks help meet the credit needs of the communities in which they operate, and provides for periodic examination of their performance.

The Fund's CRA Share Class has grown to more than 360 bank shareholders, ranging in size from small community banks to large financial institutions. In 2007, the Fund launched an institutional share class (CRANX) and a retail share class (CRATX) due to widespread interest in fixed income community investments among foundations, faith-based investors, endowments, and high net worth investors.

"Over the past 15 years, the Fund has invested over $5.6 billion in community development initiatives such as affordable housing, job creation, and neighborhood revitalization, on behalf of its shareholders in all 50 states, Puerto Rico and the U.S. Virgin Islands," said Barbara VanScoy, chief impact investment officer of CCM. "We are very pleased that out of over 900 CRA exams, every shareholder has earned positive consideration on their CRA exam for their investment in the Fund*."

"The CRA is about finding innovative ways to expand all types of lending and investing services," said John Taylor, chairman of the board of trustees for the Fund. "The Fund's 15^th anniversary demonstrates its continued success in providing banks the opportunity to target their capital at CRA markets they may have difficulty reaching. This milestone also shows increasing interest from non-financial institutional investors and retail investors in fixed income impact investing."

The 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 Small Business Administration pools and loans. Since its inception (8/30/99) through June 30, 2014, the Fund's annualized total return is 4.60% and its 30-day SEC Yield as of June 30 is 2.00%.

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 impact investing strategy is available as a separate account or via a mutual fund (CRA Qualified Investment Fund). Other strategies managed by CCM include alternative income, tax-exempt fixed income impact investing, and short duration. For more information, please visit www.ccmfixedincome.com.

*As of June 30, 2014. CRA exams conducted by FDIC, OCC, and FRB. These regulators have not approved or disapproved of the Fund.

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.

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SOURCE Community Capital Management, Inc.