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The CRA Qualified Investment Fund is a high-credit-quality bond fund with over $850 million in assets under management. The Fund was originally designed to help banks meet the requirements of the Community Reinvestment Act (CRA). Now the Fund has additional share classes for both individual (Ticker: CRATX) and institutional investors (Ticker: CRANX).
Over the past ten years, the Fund has invested approximately $2.5 billion in targeted, community development securities. The impact of the Fund's investments can be seen today in cities, towns, and neighborhoods in all 50 states that have benefited from funding made possible by the securities purchased by the Fund.
"We congratulate Community Capital Management for their excellent stewardship of the CRA Qualified Investment Fund," said John Taylor, Chairman of the Board of Trustees for the Fund. "The Fund has demonstrated consistent financial performance and continued success in identifying and purchasing securities that finance economic and community development activities throughout the nation."
The seasoned portfolio management team that oversees the Fund is comprised of Barbara VanScoy, Alyssa Greenspan, CFA, and Michelle Rogers. Together, these managers have more than 45 years of industry experience.
The CRA Qualified Investment Fund has provided solid performance throughout its history. The annualized total returns of the Fund's CRA Share class for the one-year, three-year, five-year, and ten-year periods were 7.01%, 5.40%, 4.17%, and 5.34%, respectively, as of August 31, 2009. Also noteworthy is that Lipper rates the Fund as a Lipper Leader in preserving capital.
About Community Capital Management
Ft. Lauderdale, Florida-based Community Capital Management is an SEC-registered investment advisor that manages fixed income portfolios on behalf of individual and institutional clients. Community Capital Management seeks to earn competitive returns while promoting economic and community development activities such as affordable housing, job creation and job training, small business growth, workforce development, and environmental sustainability. For additional information, please visit www.ccmfixedincome.com, or call (877) 272-1977.
The annualized total returns of the Fund's CRA Share class as of June 30, 2009 for the one-year, five-year, seven-year, and since inception periods were 6.51%, 4.40%, 4.53%, and 5.28%, respectively. The performance data 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. Other share classes have different expenses which would affect performance differently. The total annual operating expenses for the CRA Shares are 0.95%; the total annual operating expenses for the Retail Shares are 0.84%; and the total annual operating expenses for the Institutional Shares are 0.49%.
Investing involves risk including the loss of principal. 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.
Lipper ratings for Preservation reflect funds' historical loss avoidance relative to other funds within the same asset class. The ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation metric over three-, five-, and ten-year periods (as applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Preservation, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Preservation ratings are relative, rather than absolute, measures and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. As of 8/31/09, the CRA Qualified Investment Fund CRA Shares was a Lipper Leader for Preservation, ranked among 4,048 and 3,587 funds in Lipper's categorization of fixed-income (bond) funds for 3-year and 5-year periods, respectively. The CRA Qualified Investment Fund CRA Shares received a Lipper ranking of 4 for the 10-year period, out of 2,396 funds. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Lipper Leader Copyright 2009, Reuters, All Rights Reserved.
The CRA Qualified Investment Fund is distributed by SEI Investments Distribution Co. (SIDCO) which is not affiliated with Community Capital Management.