agreenspan at crafund.com
06-24-2004, 10:41 AM
News
>From CRAFund Advisors
For Immediate Release
Contact: Alyssa Greenspan, CFA
CRAFund Advisors
(954) 217-7999
Catholic Charity To Use Bond Proceeds To Create Jobs,
Provide MUCH-NEEDED Goods To Low-Income Families
_________
Mutual Fund Purchases Bond To Benefit Washington State's Needy
FT. LAUDERDALE, Fla. - June 24, 2004 - With a recent bond purchase, The
CRA Qualified Investment Fund (CRAIX), a fixed-income, community
development mutual fund improved the financial future of the St. Vincent
de Paul Society, Seattle Council. The proceeds of the bond1 assisted the
Catholic-based charity in opening a new thrift store, expanding its
mattress factory and existing network of thrift stores, while in the
process, creating jobs for needy residents of King County, Washington.
The St. Vincent de Paul Council serves low-income residents
of the Seattle metropolitan area, providing free and discounted
clothing, food, furniture and household items, as well as creating jobs
in its mattress factory and thrift shops. The Catholic charity offers
person-to-person service to those in need and serves individuals
regardless of their faith, race, or ethnicity.
Currently, the St. Vincent de Paul Society operates six thrift stores in
King County, generating employment and job training programs for
approximately 130 people as well as enabling low-income families and
others to shop for affordable clothing, furniture and household items.
In addition, the Society's appliance rehabilitation program facilitates
low-income families in purchasing working appliances for a fraction of
the average retail cost.
"At CRAFund Advisors, we're proud to support the vital role faith-based
organizations play in various economic development initiatives." said
Barbara VanScoy, portfolio manager of the CRA Qualified Investment Fund.
"This includes affordable housing projects such as the American Baptist
Homes & Hospitals Association in Lakewood, Colorado, affordable nursing
care such as a kosher nursing home in Elizabeth, New Jersey, and job
training and creation programs such as this one through the
Catholic-affiliated St. Vincent de Paul Society in Seattle."
The CRA Qualified Investment Fund is unique in that it is the only
publicly-traded, fixed-income mutual fund that directs 100% of assets
toward bonds that finance community development projects such as
low-income housing, affordable healthcare, job training, and
neighborhood revitalization. Moreover, investors have not had to
sacrifice performance, credit quality, or liquidity to advance these
social benefits.
Since its inception2, the CRA Qualified Investment Fund has invested
more than $800 million in community development activities that have
generated 61,515 affordable housing rental units; 2,159 home mortgages
for low- and moderate-income families; 1,285 affordable health care
beds; $61.5 million in economic development programs including job
training and neighborhood revitalization; and $62.2 million in
down-payment assistance and statewide homeownership programs.3
CRAFund Advisors recently made the Fund available to individual
investors and their financial advisors through distribution agreements
with Foliofn and National Advisors Trust. It will soon be available to
investors on the Charles Schwab platform.
For more information about the CRA Qualified Investment Fund, call
877-CRA-1977 or visit www.crafund.com.
# # #
1As of 5/31/04, the CRA Qualified Investment Fund owned Washington State
Housing Finance Commission, Series 2000A, Variable Rate Demand Nonprofit
Revenue Bonds due 2/1/2030 representing 0.10% of the Fund's portfolio.
Holdings are subject to change.
2 Inception: August 30, 1999
3 Source: CRAFund Advisors, as of 3/31/04
An investment in the Fund is not a deposit or obligation of, or insured
or guaranteed by, any entity or person, including the U.S. Government
and the FDIC. As of 3/31/04, performance for the 1-year, 3-year and
since inception periods is 3.91%, 6.68%, and 7.01%, respectively. Past
performance does not guarantee future results. Performance reflects fee
waivers and expense limitations in effect. In their absence performance
would be reduced. Current performance may be lower or higher than the
performance data quoted. To obtain the most recent month-end
standardized performance, call 1-877-CRA-1977. The investment return
and principal value of an investment will fluctuate, so that an
investor's shares, when redeemed, may be worth more or less than their
original cost. To obtain a Prospectus, and for a complete discussion of
investment objectives, risks, charges and expenses, contact CRAFund
Advisors at 1-877-CRA-1977. The Prospectus contains this and other
information about the Fund and should be read carefully before
investing. The Fund is a no load fund distributed by Citco Mutual Fund
Distributors, Inc. (Member NASD).
This post transferred from the cdb-l mailing list
>From CRAFund Advisors
For Immediate Release
Contact: Alyssa Greenspan, CFA
CRAFund Advisors
(954) 217-7999
Catholic Charity To Use Bond Proceeds To Create Jobs,
Provide MUCH-NEEDED Goods To Low-Income Families
_________
Mutual Fund Purchases Bond To Benefit Washington State's Needy
FT. LAUDERDALE, Fla. - June 24, 2004 - With a recent bond purchase, The
CRA Qualified Investment Fund (CRAIX), a fixed-income, community
development mutual fund improved the financial future of the St. Vincent
de Paul Society, Seattle Council. The proceeds of the bond1 assisted the
Catholic-based charity in opening a new thrift store, expanding its
mattress factory and existing network of thrift stores, while in the
process, creating jobs for needy residents of King County, Washington.
The St. Vincent de Paul Council serves low-income residents
of the Seattle metropolitan area, providing free and discounted
clothing, food, furniture and household items, as well as creating jobs
in its mattress factory and thrift shops. The Catholic charity offers
person-to-person service to those in need and serves individuals
regardless of their faith, race, or ethnicity.
Currently, the St. Vincent de Paul Society operates six thrift stores in
King County, generating employment and job training programs for
approximately 130 people as well as enabling low-income families and
others to shop for affordable clothing, furniture and household items.
In addition, the Society's appliance rehabilitation program facilitates
low-income families in purchasing working appliances for a fraction of
the average retail cost.
"At CRAFund Advisors, we're proud to support the vital role faith-based
organizations play in various economic development initiatives." said
Barbara VanScoy, portfolio manager of the CRA Qualified Investment Fund.
"This includes affordable housing projects such as the American Baptist
Homes & Hospitals Association in Lakewood, Colorado, affordable nursing
care such as a kosher nursing home in Elizabeth, New Jersey, and job
training and creation programs such as this one through the
Catholic-affiliated St. Vincent de Paul Society in Seattle."
The CRA Qualified Investment Fund is unique in that it is the only
publicly-traded, fixed-income mutual fund that directs 100% of assets
toward bonds that finance community development projects such as
low-income housing, affordable healthcare, job training, and
neighborhood revitalization. Moreover, investors have not had to
sacrifice performance, credit quality, or liquidity to advance these
social benefits.
Since its inception2, the CRA Qualified Investment Fund has invested
more than $800 million in community development activities that have
generated 61,515 affordable housing rental units; 2,159 home mortgages
for low- and moderate-income families; 1,285 affordable health care
beds; $61.5 million in economic development programs including job
training and neighborhood revitalization; and $62.2 million in
down-payment assistance and statewide homeownership programs.3
CRAFund Advisors recently made the Fund available to individual
investors and their financial advisors through distribution agreements
with Foliofn and National Advisors Trust. It will soon be available to
investors on the Charles Schwab platform.
For more information about the CRA Qualified Investment Fund, call
877-CRA-1977 or visit www.crafund.com.
# # #
1As of 5/31/04, the CRA Qualified Investment Fund owned Washington State
Housing Finance Commission, Series 2000A, Variable Rate Demand Nonprofit
Revenue Bonds due 2/1/2030 representing 0.10% of the Fund's portfolio.
Holdings are subject to change.
2 Inception: August 30, 1999
3 Source: CRAFund Advisors, as of 3/31/04
An investment in the Fund is not a deposit or obligation of, or insured
or guaranteed by, any entity or person, including the U.S. Government
and the FDIC. As of 3/31/04, performance for the 1-year, 3-year and
since inception periods is 3.91%, 6.68%, and 7.01%, respectively. Past
performance does not guarantee future results. Performance reflects fee
waivers and expense limitations in effect. In their absence performance
would be reduced. Current performance may be lower or higher than the
performance data quoted. To obtain the most recent month-end
standardized performance, call 1-877-CRA-1977. The investment return
and principal value of an investment will fluctuate, so that an
investor's shares, when redeemed, may be worth more or less than their
original cost. To obtain a Prospectus, and for a complete discussion of
investment objectives, risks, charges and expenses, contact CRAFund
Advisors at 1-877-CRA-1977. The Prospectus contains this and other
information about the Fund and should be read carefully before
investing. The Fund is a no load fund distributed by Citco Mutual Fund
Distributors, Inc. (Member NASD).
This post transferred from the cdb-l mailing list