Calvert Mortgage Access Fund Class I (CMMIX)

Overview

The company is focused on investments in a variety of mortgage-related assets, aiming to capitalize on the housing and real estate market through diverse but focused financial instruments. By maintaining at least 80% of its net assets in mortgage-related assets, the fund strategically positions itself within the real estate investment sector, leveraging both agency and non-agency residential mortgage-backed securities, among other instruments. Its commitment to investing in a mixture of agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities related to housing, and various other mortgage-related instruments underscores a comprehensive approach to investment in this sector. While the fund is non-diversified, indicating a concentrated investment strategy in mortgage-related assets, it aims to achieve a balance between risk and return through a careful selection of assets and derivatives that provide exposure to its chosen market niche.

Products and Services

• Agency Residential Mortgage-Backed Securities

These are securities that are backed by residential mortgages and have a guarantee from government-sponsored entities. This assurance helps mitigate the risk of default, making them an attractive investment for those looking for stability in the real estate market.

• Non-Agency Residential Mortgage-Backed Securities

Unlike their agency counterparts, these securities are not guaranteed by government entities and thus carry a higher risk and potentially higher reward. They are backed by residential mortgages and offer diverse investment opportunities in the housing sector.

• Commercial Mortgage-Backed Securities

These are securities backed by mortgages on commercial properties, such as office buildings, shopping centers, and hotels. This type of investment allows investors to gain exposure to the commercial real estate market through a securitized product.

• Asset-Backed Securities Related to Housing

These securities are backed by assets related to housing, providing another layer of investment in the real estate sector. They can include a range of underlying assets, from home equity loans to real estate-owned properties.

• Whole Loans, Loans, Loan Participations

This category includes direct investments in whole loans, participation in loan agreements, and warehouse financing related to mortgages. It offers investors a more direct exposure to the mortgage market, with varying levels of risk and return.

• Mortgage Servicing Rights

This investment involves rights to service mortgages, providing a stream of income from the processing of mortgage payments. It is a niche but potentially lucrative area within the mortgage investment sector.

• Mortgage-Related Derivatives

Derivatives that provide exposure to the mortgage market offer a way to invest in the future movements of mortgage-related assets without directly owning the asset. This can include a variety of financial instruments, offering flexibility in investment strategies.