A new mutual fund is being created to help banks satisfy Community Reinvestment Act requirements.

A Florida broker/dealer has created an investment adviser to manage what will be a new institutional fund, the Community Reinvestment Act Qualified Investment Fund, which has yet to be approved by the Securities and Exchange Commission.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.