The Michigan Collaborative, part of Community Capital Management’s (CCM) impact investing CRANX fund, has been named the best performing fund by Morningstar, an investment research firm, in its intermediate government category, out of more than 250 funds.
The Michigan Collaborative, part of Community Capital Management’s (CCM) impact investing CRANX fund, has been named the best performing fund by Morningstar, an investment research firm, in its intermediate government category, out of more than 250 funds.
The CRANX fund is the fund that is available for CMF members to invest in targeted fixed income investments in affordable housing, small business lending, and civic infrastructure, through an initiative announced last August, Investing for Impact: The Michigan Collaborative.
Battle Creek Community Foundation (BCCF) is one of the CMF members working in impact investing and has invested in The Michigan Collaborative.
“We are pleased to see that our investment at CCM continues to be maintained in a fund that receives a high ranking in the industry,” Brenda Hunt, president and CEO, Battle Creek Community Foundation said. “We are also pleased with CCM's work to determine their potential to invest in some of our more unique impact investing efforts.”
CMF is also an investor in the Michigan Collaborative.
The CRANX fund:
Is ranked number 1 in its Morningstar category
Has led to more than $875 million of investments in environmental and social initiatives as directed by the funders/investors making the investments
Also, recently received the top impact rating by Aeris, a ratings and information service for impact investors, indicating ‘exceptional alignment of its impact mission, strategies, activities, and data that guide its investment programs and planning.’ This rating made the CCM fund the first publicly-traded mutual fund to receive a third-party, impact management rating.
“We are enormously gratified of the year CRANX had and are excited to see our investor base continue to grow amongst foundations, religious organizations, endowments, not-for-profits, healthcare companies, and high net worth investors,” David Sand, chief impact strategist, CCM said. “Thanks to these investors ongoing commitment to our firm and impact investing, we have invested over $8.3 billion, since inception, in impact initiatives nationwide on their behalf.”
Want more?
Learn about Investing for Impact: The Michigan Collaborative.
Have a question? Connect with our Impact Investing Team, they’re on hand to answer your questions!
Check out what fellow CMF members are doing in our impact investing video series.
