Social(k) pioneered offering funds from companies like CCM that are not offered on many traditional retirement plan providers. “Community Capital Management’s pioneering technology allows clients to support disaster recovery initiatives within an impact bond fund.” CCM
Ft. Lauderdale, FL, September 26, 2017: Community Capital Management, Inc. (CCM), a leading fixed income impact investing manager, today announced it is adding to its disaster relief efforts those communities ravaged by Hurricanes Harvey and Irma. Since Hurricane Katrina in 2005, CCM has launched specific disaster relief efforts toward communities hit hard by hurricanes including Charley, Rita, and Sandy.
“Given the devastation from Hurricanes Harvey and Irma coupled with the recent wildfires across nine western states, we are highlighting one of our impact themes – disaster recovery – and how investors can make a positive impact to help rebuild these hard-hit communities,” said Alyssa Greenspan, president and chief operating officer of CCM. “Earmarking, or directing client’s investments from an impact perspective, is unique to CCM and its CRA Qualified Investment Fund (Tickers: CRAIX/CRANX/CRATX) allowing shareholders to target specific geographies in the United States or one or more of our seventeen impact themes – such as disaster recovery.”
Investors who choose disaster recovery as an impact theme are supporting various community development activities in federally designated disaster areas and disaster-prone areas to enable the recovery, prevention, or continuation of daily life associated with natural or human-induced disasters. This approach does not compromise the liquidity and diversification benefits of owning a mutual fund as shareholders still own their pro-rata share from a financial perspective. Clients receive impact reports, in addition to traditional financial reporting, detailing the positive social and environmental impacts of their earmarked investments.
“It’s remarkable to see the amount of giving – at all levels – from JJ Watt raising over $30 million for Houston to South Florida businesses donating fresh food, water, and much-needed supplies to its residents. These efforts are critical for disaster relief recovery and absolutely need to continue,” said David Sand, chief impact investment strategist at CCM. “In addition to these altruistic efforts, it is going to take tens of billions of investment dollars to reconstruct the affected areas which is why investing can offer a perfect complement to charitable giving.”
One example of a bond CCM invested in that is helping disaster recovery efforts in the United States is Harlem River Point North, an affordable rental property with 173 units in Harlem, New York. The building gives preference for 43 units to qualified households displaced by Hurricane Sandy. The property is one of many city-subsidized affordable housing developments for income-eligible New Yorkers displaced from their homes by the Hurricane.
Sand added: “Harlem River Point North is a great example of how investments can support recovery efforts in addition to contributions. Even years after a natural disaster, many residents are still displaced which is why leveraging the capital markets to help the recovery efforts is just another way to help make a positive long-term impact.”
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