Aspire Social Impact Bond delivers for homeless and investors
One of Ethinvest's more recent investments for clients and our Community Impact Foundation (CIF), the Aspire Social Impact Bond, has delivered impressive returns for investors and South Australia's homeless community, who are benefiting from the program's "housing first" strategy.
After five years of this social impact investment, more than 80% of the program's outcomes have been achieved with 291 of the 575 participants completing the full three-year support period. In that time, South Australia has seen their previously homeless community needing fewer hospital bed days, a reduced number of convictions and a 68% reduction in short-term accommodation stays.
For investors, the $9 million bond with a life of seven years, delivered a ~13% p.a. absolute return and has set a stellar example of how social impact bonds can and should work in Australia. This is a great outcome that we hope will lead to more social impact investment opportunities in in the future.
To learn more about this social bond click here