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Rating:An SRI Bond Fund Catches the WSJ's Eye Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 25, 2011

An SRI Bond Fund Catches the WSJ's Eye

News summary by MFWire's editors

Socially responsible fundsters may want to check out the CRA Qualified Investment Fund, a $1 billion bond fund with holdings in agency debt and municipal bonds.

The fund invests primarily in government-related subsectors of the bond market, the Wall Street Journal reports. Todd Cohen, president and chief investment officer of Community Capital Management [see profile], a Weston, Florida-based firm that runs the fund, told the pub that the fund bets on a universe of 60,000 taxable muni bonds that fund community economic development activities. Currently, the fund's biggest holdings include agency guaranteed, multifamily mortgage-backed securities, Ginnie Mae and Fannie Mae bonds.

As of Wednesday, the fund's institutional shares reportedly returned 3.35 percent on a one-year basis compared to the Barclays Capital U.S. Aggregate Bond Index's, which includes corporate bonds that the fund doesn't invest in, one-year return of 4.89 percent.  

Edited by: Hung Tran

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