Encouraging the Australian self managed pensions industry into social impact bond has a clear ability to transform the Australian economy and give battlers everywhere a great chance of progression!
SOCIAL entrepreneurialism is poised to snare a $60 billion slice of investment by the nation’s super industry over the next decade.
Michael Traill, the chief executive of Social Ventures Australia, says it “has the potential to emerge as a new investment asset class because if we can generate reasonable returns . . . of 8 per cent to 13 per cent and in the process do social good, that can make a significant difference to the economy.”
Social Ventures Australia earlier this year was selected to partner the NSW government to launch the country’s first social benefit bond. Traill, who heads the not-for-profit organisation, believes the asset class has the potential to grab 2 per cent of the superannuation fund pool.
Based on industry figures showing retirement savings will hit about $3 trillion over the next decade, Traill says “that would mean $60bn-plus in this as a recognised legitimate asset class”.