|By PR Newswire||
|March 19, 2014 02:08 PM EDT||
FT. LAUDERDALE, Fla., March 19, 2014 /PRNewswire/ -- Community Capital Management, Inc. (CCM), today announced the availability of its new open ended, mutual fund – the CCM Alternative Income Fund (Ticker: CCMNX) – a multi-strategy fund combining absolute-return-oriented and income-producing strategies.
"CCMNX was specifically created for investors seeking an income source that actively hedges equity and fixed income market exposures," said David Sand, chief investment strategist at CCM and a portfolio manager of CCMNX. "While researching the space, we noticed plenty of long only bond, dividend and balanced funds that do not hedge; however, the selection of absolute return, income oriented funds was much smaller."
CCMNX was launched in May, 2013 in an effort to meet conservative yield conscious investors' demands. As of 3/17/14, the 30-day SEC Yield for CCMNX was 3.80% and as of 12/31/13, its correlation (monthly since inception: 5/31/13) to the S&P 500 and Barclays Aggregate Bond Index was low at 0.01 and negative 0.09, respectively.
"We believe CCMNX should be considered by risk-averse investors who seek a source of income and diversification (or low beta and low correlation) to equity and fixed income markets," said Andrew Cowen, managing member, Badge Investment Partners LLC, sub-adviser to CCMNX. "The Fund is designed to be agnostic to interest rate or equity market movements and should be considered as a part of investors' strategic asset allocation."
In keeping with CCM's expertise in impact and environmental, social, and governance (ESG) investing, CCMNX also incorporates these features and publishes a quarterly ESG report for investors. For long positions in equity securities, CCM examines holdings quarterly for their standing in areas of corporate ESG risk and performance. For fixed income, a significant portion of the Fund's holdings provide financing for a variety of projects meeting ESG criteria.
CCMNX is the second fund managed by CCM. It is currently available on a variety of platforms including Charles Schwab, NFS/Fidelity, Envestnet, Pershing, FolioFN, and TD Ameritrade. The minimum investment is $100,000, which may be waived in certain circumstances.
About Community Capital Management, Inc.
Community Capital Management, Inc. (CCM) is an independently-owned, client-focused, registered investment adviser. Headquartered in Fort Lauderdale, Florida with offices in Charlotte, North Carolina and Boston, Massachusetts, the firm was founded in 1998 and currently manages approximately $2 billion in assets as of 12/31/13. CCM's flagship core fixed impact investing strategy is available as a separate account or via a mutual fund (CRA Qualified Investment Fund). Other products managed by CCM include the CCM Alternative Income Fund and separate account strategies in tax-exempt fixed income impact investing and liability-driven investing. For more information, please visit www.ccmfixedincome.com.
About Badge Investment Partners LLC
Badge Investment Partners LLC (Badge) is a registered investment adviser and was founded in 2013. Badge offers extensive experience investing across the capital structure and in analyzing, trading and investing in both equity and credit of companies across multiple industries. Badge currently serves as sub-advisor to the CCM Alternative Income Fund overseeing and managing the equity long/short and high yield credit sectors of the Fund. For more information, please visit www.badgecapital.com.
As of 12/31/13, the CCM Alternative Income Fund returned 2.31% (since inception: 5/31/13). 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. To obtain the most recent month-end standardized performance, call 877-272-1977. The unsubsidized 30-day SEC yield is 3.69% (2/28/14). The total annual operating expenses are 1.99%. The net expense ratio is 1.60%. Waivers are contractual and in effect until 9/30/14. Beta: the measure of a portfolio's volatility.
Community Capital Management, Inc. is a Florida-based investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940.
The CCM Alternative Income Fund (formerly the CCM Active Income Fund) is distributed by SEI Investments Distribution Co. (SIDCo), 1 Freedom Valley Dr., Oaks, PA 19456. SIDCo is not affiliated with Community Capital Management or Badge Investment Partners LLC. Investing involves risk, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. The Fund uses investment techniques that are different from the risks ordinarily associated with equity investments. Such techniques and strategies include hedging risks, merger arbitrage risks, derivative risks, short sale risks, leverage risks, commodities risk, and foreign investment risks, which may increase volatility and may increase costs and lower performance. Commodities can be highly volatile and the use of leverage may accelerate the velocity of potential losses.
Carefully consider the Fund's investment objectives, risks, charges, and expenses. This and other information can be found in the Fund's prospectus which can be obtained by calling 866-202-3573. Please read it carefully before investing.
SOURCE Community Capital Management, Inc.