Schroder BSC Social Impact Trust plc - SBSI

Driving positive social impact and sustainable financial returns

Why invest in SBSI?

As we become increasingly aware of the serious challenges facing our society, more and more investors want to do well by doing good. They want to put their capital to work for dual impact – to the benefit of people and their portfolio. The Schroder BSC Social Impact Trust has these very objectives: to achieve positive social impact and the creation of value for investors.

Behind the trust: SBSI's investment philosophy in more detail >

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Transformational impact

Capital for local social organisations and charities working with disadvantaged people in areas of high need across the UK

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Collective strengths

Harnessing the combined strengths of Schroders and the highly experienced team led by Big Society Capital, a dedicated social impact investor and delegated portfolio manager of the trust



Offering the potential for low correlation to other asset classes, providing attractive diversification benefits for investors

Our 2023 impact report

Our second annual impact report recognises the broad impact being achieved towards addressing entrenched social issues in the UK and supporting the most vulnerable and disadvantaged in our communities.

Key Information

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NEW: Annual Report and Accounts 2023
Investor Update - July 2023
Kepler Research Note
Our 2022 Impact Report
Key Information Document
Latest Factsheet

Find out where we're delivering positive impact across the UK


    For performance data please visit the London Stock Exchange website

    Ongoing charge (as at July 2023): 1.22%

    Annual Results 2023

    In October 2023, Managers Jeremy Rogers and Hermina Popa provided an update on the Trust's performance for the year ended 30 June 2023.

    Download presentation >


    Highly commended logo at the 2023 Investment Week Sustainable Investment Awards 2023 for the category Best Newcomer Sustainable Fund

    Source: Investment Week, 2023

    Trust insights

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    Related articles

    Meet the managers

    Schroder BSC Social Impact Trust plc

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    Alternative Investment Fund Manager

    Big Society Capital

    Delegated Portfolio Manager


    Slide 1 of 11
    Annual Report and Accounts 2023
    Half Year Report 2022
    AGM Results 2022
    Terms of Reference: Nomination Committee
    Terms of Reference: Management Engagement Committee
    Terms of Reference: Audit and Risk Committee
    Pre-Investment AIFMD Disclosures
    Privacy Policy
    Supplementary Prospectus
    Financial Crime Policy


    Annual Reports and Accounts

    2022 / 2021

    Interim Reports

    2022 / 2021

    AGM Results

    2022 / 2021

    What are the risks?

    There can be no guarantee that the Company will achieve its investment objective or that investors will get back the amount of their original investment.

    The Company has limited operating history and investors have a limited basis on which to evaluate the Company's ability to achieve its investment objective.

    The Company has no employees and is reliant on the performance of third party service providers. Failure by the AIFM, the Portfolio Manager or any other third party service provider to perform in accordance with the terms of its appointment could have a material detrimental impact on the operation of the Company.

    The financial performance of the Company will depend upon the financial performance of the underlying portfolio. The Company's portfolio will include Social Impact Investments over which the Company and Portfolio Manager have no control.In particular, investments in Impact Funds and certain Co-Investments will be managed by third party managers.The Company's performance and returns to Shareholders will depend on the performance of those Social Impact Investments and their managers.

    The Company's objective is to deliver measurable positive social impact as well as long term capital growth and income and these dual aims will generally be given equal weighting. Social impact is the improvement of the life outcomes of beneficiaries in a specific target group or groups.There is no universally accepted definition of 'impact', an assessment of which requires value judgments to be made.The Company's impact focus may mean that the financial returns to Shareholders are lower than those which might be achieved by other investment products.

    The Company depends on the diligence, skill, judgement and business contacts of the Portfolio Manager's investment professionals and the information and deal flow they generate, especially given the specialist nature of social impact investing.The departure of some or all of the Portfolio Manager's investment professionals could prevent the Company from achieving its investment objective.

    The Company will make investments where the Company's commitment is called over time.Due to the nature of such investments, in the normal course of its activities the Company expects to have outstanding commitments in respect of Social Impact Investments that may be substantial relative to the Company's assets. The Company's ability to meet these commitments, when called, is dependent upon the Company having sufficient cash or liquid assets at the time, the receipt of cash distributions in respect of Investments (the timing and amount of which can be unpredictable) and the availability of the Company's borrowing facilities, if any.

    The Company's investments may be illiquid and a sale may require the consent of other interested parties. Such investments may therefore be difficult to realise and to value. Such realisations may involve significant time and cost and/or result in realisations at levels below the value of such investments estimated by the Company.

    Any change in the Company's tax status or in taxation legislation or practice generally could adversely affect the value of the investments held by the Company, or the Company's ability to provide returns to Shareholders, or alter the post-tax returns to Shareholders.

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    Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

    Marketing material

    Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered Number 4191730 England.

    For illustrative purposes only and does not constitute a recommendation to invest in the above-mentioned security / sector / country.

    Schroder Unit Trusts Limited is an authorised corporate director, authorised unit trust manager and an ISA plan manager, and is authorised and regulated by the Financial Conduct Authority.

    On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.