|
|
 |
| |
|
Home > Financial Services > Mutual Funds > CRAFund
CRAFund
CRAFund Advisors is the largest fixed-income, community investing money manager in the United States. Since 1999, CRAFund Advisors has provided clients with relative value via actively managed fixed-income portfolios while promoting economic and community progress throughout the United States.
CRAFund, one of the only mutual funds in the US devoted exclusively to community investment .fund is available to individual investors on the Charles Schwab Mutual Fund One Source platform, a no-load, no-transaction fee service with a minimum investment of $2,500.
Since its commencement nearly five years ago, the CRAFund has generated annualized returns of 6.27 percent as of July 31, 2004, and its three-year annualized return rate is 5.37 percent. This strong performance helped place the CRAFund in the ranks of Lipper Leaders for total return and consistent return, placing it in the top 20 percent amongst the 79 mortgage funds in its category as of March 31, 2004.
Investing in a CRA fund enables individuals to make a difference in their community, said Eric Johnson, vice president, community development manager, and CRA officer at Bank United, the largest Florida-based banking institution and a shareholder of the Fund. The increased participation in these types of funds shows that investors are interested in programs with social payoffs.
Under their services CRA Qualified Investment seeks current income consistent with the protection of capital. The fund invests in debt securities that are deemed qualified under the Community Reinvestment Act of 1977, which aims to increase the volume of low-income housing, job opportunities, and economic development to the needy. It is non-diversified.
Since its commencement, the CRAFund has directed nearly $900 million to community development, supporting the generation of 61,515 affordable rental-housing units, 2,159 homes for low- to moderate-income families, and 1,285 affordable health care beds. A recent example of CRAFund community investment includes the purchase of a stake in a $1.4 million bond issued by the Texas Workforce Commission to help alleviate the state's high unemployment rate.
In today's environment of shrinking social programs, products like the CRA Qualified Investment Fund help fill the gap and provide capital to families and communities in need, said Steve Schueth, President of First Affirmative Financial Network, specializing in socially responsible investing. And with competitive financial performance, they can use vehicles like the Fund to enhance the value of their clients' portfolios while enhancing communities.
Financial Services Companies
all are here at FinancialBrowsers.com Permission is granted to reproduce this article as long as the above resource paragraph is left intact with active links.
Back to Mutual Funds
|
|
|
|
|
|
|