CRA Qualified Investment Fund

The CRA Qualified Investment Fund is a market-rate bond fund that invests in high credit quality fixed income securities whose proceeds are designed to positively impact communities throughout the U.S. The flagship share class (CRAIX) was launched in 1999 and the institutional share class (CRANX) and retail share class (CRATX) were launched in 2007. The Fund offers institutional investors the opportunity to direct their investment dollars to target specific impact themes (i.e., affordable housing, environmental sustainability, enterprise development, education, neighborhood revitalization, etc.) or geographies. A primary component of the firm's investment management process is its pioneering research method, which combines community impact research with financial analysis. We believe this approach provides an added layer of investment transparency by detailing the use of bond proceeds and providing a full understanding of the programs being financed.

Financial description

The Fund invests in government-related subsectors of the bond market traditionally excluded from the major bond indices and that may be chronically undervalued. The Fund seeks to avoid more volatile and traditionally lower-yielding sectors of the bond market.
The benefits sought include (1) superior portfolio fundamentals which seek to offer higher income, higher credit quality, and lower interest rate risk relative to the benchmark; and (2) an opportunity to generate above-average, risk-adjusted returns with lower volatility and lower credit risk relative to the benchmark.
For a summary of annual total returns, please see the prospectus attached above.