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CRA Shares (CRAIX)

The flagship Community Reinvestment Act (CRA) Qualified Investment Fund CRA Share Class (Ticker: CRAIX), launched in 1999, is a vehicle to help banks meet the investment test requirements of the CRA.  The CRA, created in 1977, mandates that banks make capital available to the low- and moderate-income communities which they serve. The CRA 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 United States.  To learn more, please contact Jamie Horwitz. If you are a bank shareholder and have questions, please contact Jessica Botelho.

CRA Fund Highlights (as of 1Q 2017):

  • Approximately 400 bank shareholders across the country
  • The Fund's shareholders have been through 1,166 CRA exams
  • The Fund has invested over $6.6 billion in community development initiatives on behalf of its shareholders in all 50 states, Puerto Rico and the U.S. Virgin Islands
     
Morningstar Ratings (as of 5/31/17; based on risk-adjusted return)
Fund Name Morningstar Category

Overall

3 YR 5 YR 10 YR
CRA Qualified
Investment Fund
CRA Share Class
Intermediate Government

(243 funds)

(243 funds)
(230 funds)

(171 funds)

Fund Basics
Ticker/NAV 
CUSIP 20368N103
Inception Date 8/30/99
Dividend Frequency Monthly
Liquidity Daily
Expense Ratio 0.91%
Minimum Initial Investment $500,000
Benchmark Bloomberg Barclays Aggregate
Month-End Data (as of 5/30/17)
NAV $10.64
Distribution 0.018482
30-Day SEC Yield 1.97%
Total Net Assets (all share classes) $2,016,688,817
Fund Average Annual Returns (as of 5/31/17) - LATEST MONTH
  YTD 1-YR 5-YR 10-YR Since Inception
CRA Shares 1.83% 0.44% 1.25% 3.39% 4.16%
Benchmark 2.38% 1.58% 2.24% 4.46% 5.17%
Fund Average Annual Returns (as of 3/31/17) - LATEST QUARTER
  1Q17 YTD 1-YR 5-YR 10-YR Since Inception
CRA Shares 0.53% 0.53% -0.77% 1.38% 3.21% 4.12%
Benchmark

0.82%

0.82% 0.44% 2.34% 4.27% 5.13%

3-month and YTD returns are not annualized. Performance quoted is past performance and does not guarantee future results.  Current performance may be lower or higher than the performance data quoted.  An investor's investment return and principal value will fluctuate, so that your shares when redeemed may be worth more or less than your initial cost. 


 
Mutual fund 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 non-diversified.

Carefully consider the risks, investment objectives, charges and expenses of the Fund before investing. The prospectus contains this and other important information. The prospectus is available via the link above.  Please read the prospectus carefully before investing.  The CRA Qualified Investment Fund is distributed by SEI Investments Distribution Co. (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Community Capital Management or any other affiliate.

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The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.