If you are an insurance brand looking to invest long term then it is worth considering the social good aspect. This is what drives much of Legal & General’s affordable housing projects for example. It also meets ESG standards too. IE isn’t recommending any particular investment, we are open to fracking in the office kitchen with some carbon offsetting.
But this news from TIME: Social is quite interesting as it takes a similar, long term view approach within the property sector. Here’s the press info;
TIME:Social Long Income has been awarded both active and responsible ratings by Rayner Spencer Mills Research (RSMR), a market leader in fund ratings, research and analysis. The Fund is one of just 58 that have achieved RSMR’s responsible rating to date, setting it apart from other property funds.
The Fund is managed by Roger Skeldon at TIME Investments, a specialist investment firm which invests in asset-backed income from real estate, renewable energy, infrastructure, and secured lending. TIME:Social Long Income aims to offer shareholders a consistent income stream with some capital growth prospects, while creating a positive impact on society through acquiring social infrastructure assets.
Unlike a traditional UK commercial property fund, TIME:Social Long Income secures the long-term income stream from property with long leases and by investing in buildings which are integral and inherent to the business or social organisation. This includes care home providers, medical centres, social supported living and assisted living providers.
ESG CONSIDERATIONS?
Whilst the Fund is not classified as an impact fund, generating a positive social impact is part of its investment criteria, and it forms part of each investment it makes. Due to the underlying themes the Fund invests in, many traditional property sectors are naturally omitted. It aims to provide identifiable social benefits through modern, purpose-built accommodation and educational facilities to maximise the social benefit and to target allocation supporting ESG / SRI investor principles.
For ESG considerations, attention is given to the social contributions of investments that are selected, which include community impacts, such as access to quality education, sustainable cities and communities, good health and wellbeing, along with reducing poverty and inequality. Consideration of the environmental impact is part the analysis of each investment, and the buildings within the portfolio do tend to be purpose-built properties with higher energy efficiency ratings.
In addition, an independent company, Loop, conducted a social value assessment of the assets within the Fund and provided investors with a quantitative social value in monetary terms of what the Fund gives back to society.
For further information on TIME and the Fund, please visit www.time-investments.com
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