November 21, 2012
Community Capital Management Invests over $4 Million on Behalf of Sustainable ETF
by Robert Kropp
The Florida-based fixed income investment manager, one of the portfolio managers for the
AdvisorShares Global Echo exchange-traded fund, invests in projects that promote job creation and
provide housing for low- and moderate-income residents.
The AdvisorShares Global Echo ETF
(GIVE) is not the only exchange-traded fund to focus on sustainable investment opportunities.
In 2010, Pax World Management launched the
ESG Shares family of ETFs, and BlackRock
followed suit last year with two sustainable equity ETFs on its iShares platform.
GIVE is managed by four portfolio
managers, all of which have significant experience in sustainable investment. Community Capital Management (CCM), a Florida-based
investment management firm which handles the fixed income portion of the GIVE portfolio, announced
this week that it has thus far invested over $4 million in sustainable initiatives on behalf of the
GIVE distinguishes itself, however, by
donating 40 basis points of its 1.7% annual operating expense to the GlobalECHO Foundation, a nonprofit founded by
Philippe Cousteau that provides funding to address social and environmental issues.
Investments purchased by CCM include a 400,000 square foot, transit-oriented and
sustainable residential/retail development in Odenton, Maryland, and a Low Income Housing Tax
Credit property incorporating sustainable building methods in Crescent City, California.
CCM investments on behalf of GIVE have thus far resulted in $1.9 million in job creation and
small business development; $1.1 million in multifamily housing with sustainable, education, and
community components; $140,000 in affordable healthcare facilities; $150,000 in economic
development, environmentally sustainable initiatives, and neighborhood revitalization activities;
and $860,000 in home mortgages for low- and moderate-income borrowers.
Since 1998, CCM has
invested in numerous urban renewal projects that have resulted in increased manufacturing in urban
areas where thousands of jobs have been lost, and revitalization of housing in targeted
disadvantaged areas. The rehabilitation projects often employ green building principles and result
in increased energy savings. In 2009, Executive Vice President and Senior Portfolio Manager Barbara
VanScoy said that the firm's goal was to invest at least 50% of the portfolio in securities that
support environmental initiatives.
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