Aberdeen Standard Investments has published its first annual impact report for the UK Equity Impact Employment Opportunities Fund. Launched in February 2018, the Fund positions itself as an innovative and compelling solution for those investors who wish to invest in UK equities in pursuit of both societal and financial benefits.
In collaboration with Big Issue Invest (BII), the social investment arm of the Big Issue Group, the impact objective of the Fund is to support ‘decent job’ creation in the UK. Investment in skills and attracting talent has become a basis for competitiveness, productivity and growth – indeed, 80% of the Fund’s companies pay above the national average wage for their sectors.
Lesley Duncan, Deputy Head of UK Equities and co-manager of the UK Equity Impact Employment Opportunities Fund said: “The creation of decent employment opportunities and productive jobs can help alleviate poverty and benefit society as a whole. We are delighted to report that the Fund holds twice the reference benchmark’s* level of exposure to companies that create employment opportunities in areas with high employment deprivation. This outcome underlines our commitment to furthering the Fund’s financial and impact investment objectives.”
Rebecca Maclean, co-manager of the Fund said: “Job creation is one pillar we consider when assessing companies for inclusion in the Fund. We are pleased to report that 70% of the Fund’s companies exhibited positive job creation over the last year, with a median growth rate of 5.1% versus 3.1% growth for companies in FTSE 350.”
Nigel Kershaw, Chair, The Big Issue Group, said: “The Big Issue provides the means and opportunity for homeless and vulnerably housed people to earn a living through working. The Fund extends this core belief by creating job opportunities and ensuring good employment practices, both of which are vital poverty prevention tools. It also enables BII to expand its work by directly investing in more social enterprises that seek to dismantle poverty. We feel a huge sense of pride in what this partnership has already achieved – and there’s more to come”
The collaboration with Aberdeen Standard Investments has helped Big Issue Invest advance its mission to dismantle poverty and create opportunity for people and communities across the UK. The UK Equity Impact Employment Opportunities Fund was designed specifically to achieve these goals.
*While the Fund is not benchmarks against the FTSE 350 Index, we use the FTSE 350 to provide a useful context of the Fund’s achievement towards its societal aims over the past year.
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Notes to editors
About Aberdeen Standard Investments
- Aberdeen Standard Investments is a global asset manager dedicated to creating long-term value for our clients, and is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments. With over 1,000 investment professionals, we manage £505.1 billion of assets worldwide. We have clients in 80 countries supported by 50 relationship offices. This ensures we are close to our clients and the markets in which we invest. (*as of 31 December 2018)
- We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance.
- Standard Life Aberdeen plc is headquartered in Scotland. It has around 1.2 million shareholders and is listed on the London Stock Exchange.
- You can access the Aberdeen Standard Investments media centre here: https://www.aberdeenstandard.com/news-and-media
About Big Issue Invest
Big Issue Invest extends The Big Issue’s mission by financing the growth of sustainable social enterprises and charities across the UK. Big Issue Invest offers loans and investment from £20,000 to £3 million. Since launching in 2005, we have invested in over 330 organisations, all of which have positively influenced the lives of people across the UK. We are also bringing the mainstream to social investment with the UK Social Bond Fund, in partnership with Columbia Threadneedle, and the UK Equity Impact – Employment Opportunities Fund, in collaboration with Aberdeen Standard Investments. Big Issue Invest is also helping to pave the way for 3.4 million social housing tenants to potentially improve their credit, by partnering with Experian on The Rental Exchange. The capital raised by Big Issue Invest comes from mainly private sources and not from sales of the magazine and Big Issue Invest pays any dividends generated by our investments to our parent company, The Big Issue Group. Created by social entrepreneurs, for social entrepreneurs and a steadfast champion of social enterprise. For more information go to: https://www.bigissueinvest.com
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