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Roundtable: Regional Investment Possibilities in Targeted Investing Access Capital Strategies LLC This draft presentation is not an offer or solicitation of the Access Capital Strategies Community Investment Fund, Inc. (“Fund”) and is not a complete description of the Fund and the risks associated with an investment. The offering of the Fund can only be made through the current version of the Fund’s Prospectus, which fully describes the Fund, including investment strategies, risk factors, charges and expenses and must accompany this presentation. December 6, 2006
Seeks competitive, risk-adjusted, high-credit quality taxable fixed income returns through an economically targeted investment vehicle.
Manages the Access Capital Strategies Community Investment Fund, which is sub-managed by Voyageur Asset Management Inc.
To date, the Fund has helped to provide financing for 7,997 low- and moderate-income homebuyers, 3,224 affordable rental housing units, 146 Small Business Administration loans, and 10 economic development loans in communities in 44 states, including Washington, D.C. and Guam.
The geographies of Fund investments are targeted by Fund Investors.
Access Capital provides expertise in the area of Community Development investing. We are innovators at the forefront of identifying and creating economically targeted investments while allowing Investors to target specific geographic regions.
Ronald A. Homer , Chief Executive Officer, 35 years as a national leader in community development, 13 years as a bank CEO.
David F. Sand , President and CIO, 25 years as an investment banker and portfolio manager.
Kathlean Nunnally , VP Finance and Administration, 20 years in commercial and community banking, 7 years in community and economic development.
Melissa C. Quattrucci , Marketing & Client Service Manager, 12 years as a project, account, and database manager.
Established in 1983, Voyageur Asset Management Inc. Has Over 20 Years of Investment Experience
$28.2 Billion in Total Firm Assets Under Management*
$18.2 Billion in Voyageur Fixed Income Assets
$26.2 Billion in Voyageur Institutional Services
Voyageur is Headquartered in Minneapolis, Minnesota
117 Professional Staff Firm Wide
Wholly Owned Subsidiary of the Royal Bank of Canada
7 th Largest Financial Institution in North America
*Please review the “Performance Presentation and Disclosures” appendix to these materials for a full description of the organization and its two divisions.
Voyageur Asset Management Team John M. Huber, CFA, Chief Investment Officer - Fixed Income John directs Voyageur's fixed income group. John joined Voyageur in 2004 from Galliard Capital Management where he was a principal and senior portfolio manager, responsible for the firm’s total return fixed income effort. John received a BA from the University of Iowa and an MBA in Finance from the University of Minnesota, Carlson School of Management. John is a CFA charterholder and a member of the CFA Society of Minnesota. Jennifer P. Hunt, Managing Director, Public Funds Jennifer is responsible for institutional public fund sales and client service. In 2004, Jennifer was distinguished as Money Management Letter's Public Funds Marketer of the Year, a highly coveted honor. Jennifer joined Voyageur in 2004 from Loomis, Sayles & Company where she was the director of public fund sales and marketing. Jennifer received a BS in Finance from Boston College and is an Advisory Board Member for NASRA. Brian Svendahl, Director of Portfolio Analytics, Portfolio Manager Brian leads Voyageur’s Portfolio Analytics Team which conducts analysis of our investment process and security risks in a consistent framework. Brian joined Voyageur in 2005 from Wells Fargo Brokerage Services, where he served as senior vice president and risk manager. Brian received a BS in Economics from the University of Minnesota. He also received a BBA in Finance and an MBA from the University of Minnesota, Carlson School of Management. Brian is a Level III candidate for the Chartered Financial Analyst designation. Steve Eldredge – Senior Portfolio Manager Steve has actively managed bank investment portfolios for the past 25 years, including advising banks regarding community development structures. Steve currently advises our national financial institution client base regarding fixed income and community investment strategies. Voyageur Personnel Have Extensive Experience Working with Community Investment-Based Securities, through Work in the Banking Sector.
CRF, a Minnesota nonprofit corporation, promotes economic development by creating jobs, affordable housing, and revitalizing communities innovative capital markets transactions.
Since 1988, CRF has purchased more than $400 million in development and affordable housing loans from lenders nationwide, enabling additional investments in low-income and economically disadvantaged communities in 38 states
Holyoke, MA, has the highest state rate of mortality, teen births, AIDS/HIV-related deaths, alcohol and drug related deaths, and deaths from homicide and suicide
The Center serves one-third of the total population of Holyoke which is 39,838
The Center is located in a Low Income Census Tract where 72% of the population is minority and 49% fall below the poverty line
Staff members speak English and Spanish
The Center will treat anyone regardless of age, residency, citizenship, or ability to pay
As of February 2006, the Center has added 300 new jobs
Our Investment in the Holyoke Health Center (continued)
In March 2005, Access Capital Strategies made a $9,375,000 loan to the Holyoke Health Center, which is guaranteed by the US Department of Health and Human Services and was made in collaboration with the Massachusetts Housing Investment Corporation (MHIC)
Through the use of New Markets Tax Credits, MHIC provided the Holyoke Health Center with multiple layers of financing to enable the Center to expand health care and services while giving them a more efficient capital structure
These funds will also be used for building rehabilitation and other Holyoke Health Center initiatives
Additional benefits include job creation, increased dollars spent in the community, and expansion of a daytime workforce, all of which are critical to the economic stabilization of Holyoke