nbsp;On 9/10/14, the OCC, Board and FDIC (the Agencies) proposed to clarify and supplement their Interagency Questions and Answers regarding Community Reinvestment to address questions raised by bankers', community organizations, and other regarding the Agencies' CRA regulations. The bulletin is available here.
The Community Reinvestment Act (CRA) Qualified Investment Fund CRA Shares (Ticker: CRAIX) was launched in 1999 to help banks garner positive consideration on the Investment Test portion of their CRA exams. The CRA, created in 1977, mandates that banks make capital available to the low- and moderate-income communities which they serve. The CRA Fund invests in high credit quality fixed income securities whose proceeds are designed to positively impact communities throughout the U.S.
Out of over 940 CRA exams, every shareholder has earned positive consideration for their investment in the Fund.*
|Minimum Initial Investment||$500,000|
|Month-End Data (as of 10/31/14)|
|30-Day SEC Yield||1.93%|
|Total Net Assets (all share classes)||$1,567,044,482|
|Fund Average Annual Returns (as of 10/31/14) - Latest Month|
|Fund Average Annual Returns (as of 9/30/14) - Latest Quarter|
CRA Shares inception date: 8/30/99. 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.
|Portfolio Composition (as of 9/30/14)|
|Multifamily Agency MBS 1||45.7%|
|Single Family Agency MBS||26.3%|
|Taxable Municipal Bonds 2||21.1%|
|Small Business Administration Pools/Loans||4.0%|
Quality Composition (as of 9/30/14) 4
|Top Ten Holdings (as of 9/30/14) 6|
|GNR 2012-111 AB||1.08%|
1- Includes 0.10% in Community Reinvestment Fund (CRF) bonds (non-agency MBS).
4- As of 9/30/14, 0.01% of the Fund's assets were rated B, 0.01% were rated BBB, and a total of 0.0003% were not rated. All rated securities are rated by S&P, Moody's, and/or Fitch. If a security is rated by more than one of these organizations, the lowest rating assigned is shown. Ratings are measured on a scale that generally ranges from AAA (highes) to D (lowest).