Australian Ethical fund manager is understandably keen on SIB investment (or SBB as termed here) while there is a discussion of the social stock exchange niche too. Interesting…
The UK is no longer the only country in the world with a ‘Social Stock Exchange’. SVX, short for Social Venture Connexion, was launched in Canada in September.
SVX, led by the MaRS Centre for Impact Investing in Toronto, describes itself as a private investment platform built to connect impact ventures, funds and investors in order to catalyse new debt and equity investment capital. The aim of the platform is to enable impact ventures and funds based in the state of Ontario to raise investments of $100,000–$10m (£60,000 – £6m) from accredited impact investors.
Investors will include: “foundations and endowments (private, public or community), financial institutions, asset managers, wealth advisors and high-net-worth individuals that meet the definitional requirements of an accredited investor as per securities regulations.”
Australian Ethical Invests In Social Benefit Bond
Fund manager Australian Ethical has undertaken an investment in the social benefit bond program established for the Benevolent Society.
The company announced last week that it had taken an allocation in the first Social Benefit Bond (SSB) to be arranged by Westpac and the Commonwealth Bank.
Announcing the investment, Australian Ethical said it was capital protected and had the potential for up to a 10 per cent return – well above equivalent NSW Government bond rates.
Describing the investment, it said returns were paid from an ‘outcome payment’ made by the NSW Government, with the payments based on how well the Benevolent Society performs in resolving the underlying issues being faced by the child and their family.