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 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 3/31/16):
- Over 370 bank shareholders across the country
- Out of 1,060 CRA exams, every shareholder has earned positive consideration for their investment in the Fund*
The Fund has invested over $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 3/31/16)|
|Fund Name||Morningstar Category||
|3 YR||5 YR||10 YR|
CRA Share Class
|Minimum Initial Investment||$500,000|
|Month-End Data (as of 4/30/16)|
|30-Day SEC Yield||1.93%|
|Total Net Assets (all share classes)||$1,869,842,361|
|Effective Duration (as of 3/31/16)||4.56|
|Fund Average Annual Returns (as of 3/31/16) - LATEST MONTH|
|Fund Average Annual Returns (as of 3/31/16) - LATEST QUARTER|
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.
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Please note, some of the Morningstar proprietary calculations, including the Morningstar Rating™, are not customarily calculated based on adjusted historical returns. The evaluation of this investment does not affect the retail mutual fund data published by Morningstar. For each retail mutual fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. This investment’s independent Morningstar Rating metric is then compared against the retail mutual fund universe breakpoints to determine its hypothetical rating.