The Schroder BSC Social Impact Trust (SBSI) secured the nod for the multi-asset fund of the year after being praised by one Impact Awards judge for its approach to delivering high impact through "innovative" investment areas, including housing for vulnerable people and lending to charities and social enterprises.
Launched in December 2020, the £75 million ($102 million) investment fund is a collaboration between asset manager Schroder and social impact investor Big Society Capital (BSC).
The UK-focused fund has committed more than two-fifths of its assets each to debt to social enterprises – including through its own charity bond portfolio and long-term capital vehicle Bridges Evergreen – and to high impact housing for vulnerable people. More than 10% has also been committed to social outcomes contracts which provide capital for social enterprises to deliver their outcomes-based government contracts.
One judge praised the "clear" impact targets of SBSI, with another impressed by the diversity of its "innovative" impact investment areas. A third judge was also impressed by the reporting approach of the fund. SBSI utilises the globally recognised Impact Management Project (IMP) framework to measure, assess and report on social impact of its investments and has launched an interactive map allowing investors to see where their money is being spent locally.
“We believe this is the first time most private investors will have had the opportunity to access a broad, diversified portfolio of private social impact investments,” said Schroders. “And the investment trust structure allows retail investors to access private impact markets without having to meet high minimum investment sizes.”
|Charity Bond Portfolio||Regulated social sector organisations targeting impact in poverty or other vulnerable groups||20%|
|Bridges Evergreen||Long-term, large scale, investment to established mission-locked organisations||14%|
|UK Affordable Housing Fund||Homes for people unable to purchase or rent in the open market||13%|
|Social & Sustainable Housing||Homes for high need groups in receipt of wrap around support||13%|
|Bridges Social Outcomes Fund II||UK outcomes contracts across children’s services, homelessness and health and social care||11%|
|Resonance Real Lettings Property Fund||Homes to facilitate the transition away from temporary or emergency accommodation||8%|
|Charity Bank Co-Investment||Larger loans to mission driven organisations||7%|
|Man GPM RI Community Housing Fund||Multi-tenure UK affordable housing for people on lower incomes||7%|
|Triodos Bank UK Bond Issue||Lender to sustainability and social impact focused organisations||3%|