CRA Qualified Investment Fund

United States of America

Last updated 11 May 2020, by Impactyield.

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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.


Fund style

Not listed


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.

24 years

of track record

1999

the year funded

2,065,791,717 USD

AUM

Asset manager

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Safe and affordable housing

Encourage companies to adopt sustainable practices and sustainability reporting

Achieve universal health coverage

Expand and upgrade energy services for developing countries

Sustainable economic growth

Promote policies to support job creation and growing enterprises

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: Community Capital Management

Product track record: Fund has 24 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage:

Inception year: 1999

Vintage year: 1999

Target region: , , ,

Target close date: n.a.

Product term: Intermediate Term, daily liquidity

Assets under management: 2,065,791,717 USD (US Dollar)

Investment size: Min: 0; Max: 0; Avg: 0

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 1

Fund investments to date exited or repaid: 0

Management fee: 0.46%

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: n.a.

Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors, Retail Investors

Contact

E-mail: n.a.

Website: http://www.crafund.com

Phone number: 877-272-1977

If you wish to have your details removed from this database please email gdpr@impactyield.com


Gabby Bastos

Marketing Assistant

Jamie Horwitz

Chief Marketing Officer

Todd Cohen

Founder, CEO & CIO

Impact Performance

n.a.

Impact thesis

In determining whether a particular investment is primarily for the purpose of promoting community development, the Advisor will consider whether the investment: provides affordable housing for low to moderate income (LMI) individuals; provides community services targeted to LMI individuals; funds activities that promotes economic development; and funds activities that revitalize or stabilize LMI areas and/or underserved or distressed areas. To date, CCM, on behalf of the CRA Fund, has invested over $6 billion in community development initiatives nationwide (approximate figures).

Impact Management

n.a.

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