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Community Capital crosses USD1bn mark

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Community Capital Management, a Florida-based investment manager, has surpassed USD1bn in fixed income assets under management that it manages on behalf of financial institutions, found

Community Capital Management, a Florida-based investment manager, has surpassed USD1bn in fixed income assets under management that it manages on behalf of financial institutions, foundations, religious organisations, public funds and individual investors.

Community Capital Management was founded in 1998 as the registered investment adviser to the Community Reinvestment Act Qualified Investment Fund CRA Shares, a high-credit-quality bond fund originally designed to help banks meet the requirements of the CRA. The CRA, created in 1977, mandates that banks make capital available to low and moderate-income communities.

Since then, Community Capital introduced two additional share classes for the fund – an institutional share class and a retail share class – in addition to managing separate accounts on behalf of institutional investors.

‘This milestone demonstrates a growing understanding among investors of all types that portfolios of government-related securities can produce competitive returns while also promoting community development and environmental sustainability,’ says Todd Cohen (pictured), president and chief investment officer of Community Capital Management. ‘Thanks to these investors’ increasing use of this strategy, our firm has been able to direct nearly USD3bn toward vital community and economic development activities across the nation.’

Community Capital Management’s strategy seeks to deliver above-average, risk-adjusted returns while also offering clients the option to target specific community and environmental initiatives, predefined geographic areas, and minority neighbourhoods.

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