New Rating Tool Assesses Investment Funds’ Accountability to Claims of Impact

Community Capital Management (CCM)’s CRA Qualified Investment Fund has become the first publicly-traded, fixed-income mutual fund to receive an impact management rating from Aeris, the rating and information service for impact investors. The rating was announced at the 2017 Social Capital Markets (SOCAP) Conference today.

While there already exist several indices that use publicly-available information to rank the environmental, social, and governance (ESG) performance of investment funds, Aeris’ rating is the first tool to help investors evaluate impact management—that is, how well a fund pursues and achieves its stated impact goals. While Aeris has been issuing impact management ratings for more than a decade on private, fixed-income funds in the community investing space, this is the first rating of a publicly-traded mutual fund.

“With a ballooning number of funds claiming to have positive environmental and social impacts, CCM was eager to participate in a third-party validation of our impact performance and metrics,” said David Sand, CCM’s Chief Impact Investment Strategist, who also serves as a member of the Aeris board of directors. “Social impact is core to our mission as our Aeris rating demonstrates and we are excited that the CRA Qualified Investment Fund is the first public mutual fund to receive an impact management rating.”

Aeris Impact Management Ratings assess the pursuit and achievement of impact goals as evidenced by strategies, use of investment capital, and how impact is measured and informs the refinement of those strategies. The Aeris methodology considers a fund’s impact investment model and objectives. The Aeris rating for CCM’s CRA Qualified Investment Fund indicates exceptional alignment of the fund’s impact value proposition, strategies, and supporting data that…

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