Impact Report 2023 | Schroder BSC Social Impact Trust
Schroder BSC Social Impact Trust | Impact Report 2023
High Impact Housing Portfolio
CBRE UK Affordable Housing Fund £9.8m SBSI investment of £232m net capital committed
Resonance Real Lettings Property Fund £6.5m SBSI investment of £56.8m Fund Transitional housing and support for employment, training, financial inclusion and health & wellbeing
Social and Sustainable Housing (SASH) £10m SBSI investment of £64m Fund
Man Community Housing Fund £10.2m SBSI investment of £200m+ Fund
Fund
Affordable rents, including focused rents for key‑worker groups and shared ownership
Social and affordable rent, shared ownership, and other affordable mixed tenures
Transitional supported housing
What
People at risk of homelessness
A range of vulnerable groups, including people with mental health needs, survivors of domestic violence, ex‑offenders, vulnerable young people and people at risk of homelessness
Those on median and lower incomes, or those struggling to get on the housing ladder
Lower-income households unable to rent or buy on the open market
Who
How Much
595 tenants housed
502 people housed and supported
81 people housed in first year
2,258 people housed in 1,800 homes
Net increase in supply of affordable housing and better quality housing (through early-stage partnerships with councils and housing associations)
Net increase in supply of affordable housing; mainstream managers’ adoption of high-quality impact practice; improved well-being and disposable income for residents
An alternative social landlord preventing homelessness and rough sleeping by working with expert housing partners to understand and respond to tenants’ needs
More consistent and higher-quality service provision to tenants, through increased organisational resilience of service providers
Contribution
Key Impact Risks and Mitigants
Execution risk Delivery of services addressing multiple needs, alongside property acquisition and management
Partnerships Organisation age, size, regulatory status and experience of financial management assessed by fund managers
External risk Factors outside housing organisation control including tenant employment following Covid disruption. Welfare policy, grant availability and planning changes risk the viability of high impact tenure delivery.
Holistic assessment Equity Impact Project introducing consistent metrics across social and environmental performance.
Portfolio manager engagement focused on identifying fund actions and learnings regarding enhancing energy performance standards for acquisition of lower quality housing stock, and ensuring energy efficiency ratings are above minimum requirements under the UK’s net zero pathway. Partnership Selection focused on fund managers with clear impact goals who will work to find solutions in the face of challenges.
User voice Measures of tenant satisfaction and positive move-on rates
Unexpected impact risk Engagement with higher risk groups likely to experience negative outcomes in the event of disrupted or poorly aligned services, or poor‑quality housing conditions
Any reference to sectors/countries/stocks/securities are for illustrative purposes only and not a recommendation to buy or sell any financial instrument/securities or adopt any investment strategy.
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