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March 20, 2014

News Briefs for March 20th
    by Robert Kropp

Green Century Capital Management releases an animated fossil fuel free investing video, and Community Capital Management announces the launch of the CCM Alternative Income Fund.

SocialFunds.com -- In support of a guide on fossil-fuel investing published with 350.org and Trillium Asset Management in October, Green Century Capital Management has produced a brief animated video for retail investors who wish to divest from fossil fuel companies largely responsible for climate change.

A recent article in the San Jose Mercury News states, “A small but growing number of individual investors are examining their retirement funds and portfolios with an eye toward eliminating their exposure to coal, oil and natural gas.” The article quotes Will Lana of Trillium, who said, “Roughly one-fifth of our clients are fully divested from the fossil fuel sector. For certain investors, the approach makes a lot of sense.”

Both Trillium and Green Century have offered fossil fuel free investment opportunities for years. Green Century announced earlier this year that its Equity Fund will become fossil fuel free as of April 1st. The firm's Balanced Fund has been fossil fuel free for many years.

Community Capital Management (CCM), a Florida-based fixed-income investment adviser, announced this week the launch of its CCM Alternative Income Fund (CCMX), a multi-strategy fund combining absolute-return-oriented and income-producing strategies.

The Fund is the second managed by CCM. Its flagship Community Reinvestment Act (CRA) Qualified Investment Fund was launched in 1999.

"CCMNX was specifically created for investors seeking an income source that actively hedges equity and fixed income market exposures," said David Sand, chief investment strategist at CCM. "While researching the space, we noticed plenty of long only bond, dividend and balanced funds that do not hedge; however, the selection of absolute return, income oriented funds was much smaller."

Jamie Horwitz of CCM noted in an email that the firm is not aware of other absolute return funds that incorporate environmental, social, and corporate governance (ESG) criteria. The Fund produces an annual ESG report; while the report notes that the Fund supports “companies that recognize the carbon intensity of their businesses,” the Fund itself is not fossil-fuel free.

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