Social Impact Investing

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SOCIAL IMPACT INVESTMENT: BUILDING THE EVIDENCE BASE 6.25 Associations and networks also track some data on investors. Examples of these include the Japan Foundation Centre for foundations; ACRI for bank foundations in Italy or EVPA for venture philanthropists across Europe. However, they typically only provide information on specific types of investors and coverage is limited to membership and to certain categories of data that fall short of what is needed for an effective mapping of SII. 6.26 Information about institutional investors sourced from the financial system (central banks and financial market authorities) as well as international organisations (e.g. OECD, IMF) and associations can also provide an indication of the size of assets that could potentially be deployed into SII, assuming a small percentage of those investors might be interested in SII. That interest would be conditional on a number of factors such as monetising social returns and the creation of adequate financial vehicles to attract investments from these investor types. A report by the World Economic Forum notes that these mainstream investors require at least a market risk adjusted financial return due to fiduciary responsibilities (WEF, 2013). The Asset Allocation Working Group report (WGAA, 2014) analyses how the fiduciary duty perception that SII cannot deliver required financial returns (amongst other challenges) has been limiting the allocation of funds to SII financial instruments. It also discusses how this challenge can be tackled and SII integrated into portfolio structures of mainstream investors in the future, increasing the opportunity for portfolio diversification. 6.27 Figure 6.2 below overviews financial assets held by major types of institutional investors for G7 and Australia. In comparison to GDP, these institutional investors hold large sums of money, even though investments may often take place overseas. In some cases representing more than 90% of GDP (e.g. pension funds in UK and insurance companies in France), institutional investors can steer the SII market even if committing extremely small shares of their total portfolios into SII. Figure 6.2. Financial assets of institutional investors As a percentage of GDP, 2011 Source: OECD (2013f). © OECD 2015 87
SOCIAL IMPACT INVESTMENT: BUILDING THE EVIDENCE BASE 6.28 As in other areas, surveys have been the main tool to profile social impact investors and quantify available capital. For example, in the JP Morgan\GIIN <strong>Impact</strong> Investor Survey series (Box 6.2 below) the survey sample has been increasing. This imposes some limits to a longitudinal analysis — in the last survey a subsample of respondents overlapping with the previous edition (67 out of 125) was used to make a comparative statics analysis. The most important is to guarantee that the sample provides a good idea about the effective distribution of characteristics across different investors. 6.29 The GIIN\JP Morgan survey is particularly interesting because it combines quantitative information (e.g. investments; assets under management; returns) with qualitative information (e.g. growth perspectives; return expectations). If efforts are made to obtain a representative sample with longitudinal data, it is possible to track if investors’ expectations regarding the SII market are actually being met (e.g. Saltuk et al., 2014). 88 © OECD 2015
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6. 1 We disseminate Quarterly publi
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23 “His master replied, ‘Well d
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Domini, shareholder advocacy and co
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Two good things came out this resea
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Fund Azzad Ethical Mid Cap Fund Bri
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Fund Fund A Praxis Growth Index Fun
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development in the US, or are made
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concern, and submitting and voting
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sustain land trusts, to a meeting o
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that are often excluded from market
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Some organisations that have used S
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it helps identify the critical sour
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and shareholder trust through posit
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Approaches Some commentators have i
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Wieland and Handfield (2013) sugges
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EthicalQuote (CEQ) tracks reputatio
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Displaying commitment to CSR is one
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Brand Differentiation CSR can help
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takes health and safety, diversity
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advance with the practice of CSR wh
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Stakeholder Influence One motivatio
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Regulation Fifteen European Union c
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jurisdictions. E.g., some jurisdict
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"Impact investments can be made in
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venture capital community. Investor
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countries via local intermediaries.
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determining views of affected commu
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Another measure of economic impact
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The Board for the CCEG was to inclu
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17 Love Relationship Online dating
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Social Value Act 2012 legislation.
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Development released a report outli
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Benefits and Costs of Social Impact
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UK On 18 March 2010, Secretary of S
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US Massachusetts: The second of two
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US Federal: The U.S. Department of
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would establish a five-year pilot p
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We are dedicated to finding ways to
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In the past, public monies have oft
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indicate that more Americans want t
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Youth" to "Opportunity Youth" in or
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income must file a Form 990. The fo
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In its first three years, SIF has a
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The Office of Social Innovation pri
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of Management at UCLA; and launched
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Notes _____________________________
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Investing for Impact Case Studies A
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Contents What is Impact Investment?
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What is Impact Investment? Impact I
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A case study approach in an asset a
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Segments of Impact Investors High T
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Foundations Like high net worth ind
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in the developed and the developing
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By creating mechanisms through whic
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Asset Allocation Framework Asset cl
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Cash Shorebank Deposit Program fina
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Mezzanine/Quasi Equity Instruments
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Venture Capital Bridges Ventures CD
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Real Estate JP Morgan Urban Renaiss
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absolute return (hedge funds) BelAi
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senior debt Root Capital Impact Fir
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Venture Capital Aavishkaar Impact F
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eal estate Ignia Impact First Inves
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senior debt Root Capital Layered St
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The New York City Acquisition Fund
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Appendix Methodology The Investing
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Websites •• Bridges Ventures: h
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Cash Quasi Equity Public Equity Buy
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SOCIAL IMPACT INVESTMENT: BUILDING
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Page 198 and 199: SOCIAL IMPACT INVESTMENT: BUILDING
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Global Research 29 November 2010 Im
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Impact Investments: An emerging ass
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Advocacy Foundation Publishers The
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XVI for Drug-Free Communities Landm
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Vol. VIII 2022 ComeUnity ReEngineer
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Vol. XV 2029 Inner-Cities Revitaliz
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The e-Advocate Journal of Theologic
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Issue Title Quarterly Vol. I 2015 I
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The e-Advocate Juvenile Justice Rep
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2018 - The Theological Law Firm Aca
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About The Author John C (Jack) John
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Social Impact Investing

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