Our first annual impact report recognises the broad-based impact being achieved towards addressing entrenched social issues in the UK and supporting the most vulnerable and disadvantaged in our communities.
There is a growing private impact investment market in the UK, providing solutions that aim to help alleviate some of the country’s most pressing social challenges, while targeting a sustainable financial return. Many of these investment opportunities, which deliver the highest level of social impact are found in private markets which, although they have increasing institutional investor backing, are not easily accessible to other investors without specialist expertise and deep networks.
To bring these opportunities to a wider audience, Schroders and Big Society Capital (BSC), one of the UK’s leading impact investors, have partnered to provide investors with unique access to a diversified portfolio of high-impact private market investments within a liquid investment vehicle.
On Monday 24 October, Fund Manager Jeremy Rogers and Head of Investor Engagement Andrew Beal presented the trusts annual results for the period ending 30 June 2022.
Schroder BSC Social Impact Trust plc
Independent Board of Directors
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At Schroders our sustainable investing approach sits on a spectrum and has been developed to suit the different requirements of investors. For investors who want their money to work in a way that has a specific, measurable and positive benefit to society or the environment while also delivering a financial return, “Impact Investing” is one option that can facilitate this
Best ESG Investment Fund: Multi-Asset
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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.