Discussing SIBs in Britain to start the week off with a little kicker of general impact investing…
Golden Lane Housing: Social Investment Can Be ‘Absolutely The Right Thing’ To Do
Alice Sharman – Civil Society
The director of Golden Lane Housing, the issuer of the first charity bond to be listed on the London Stock Exchange, has said that despite recent criticism of charities using social finance it can be a useful tool for the sector.
Alastair Graham (pictured), the director of Golden Lane Housing, an arm of Mencap, was speaking at a breakfast briefing on retail charity bonds hosted by the Lord Mayor of London, Alderman Fiona Woolf, and organised by PricewaterhouseCoopers.
Phil Caroe, chief operating officer at Allia, a charity that supports organisations dedicated to making a positive social impact, asked Graham to respond to a recent article on civilsociety.co.uk in which Kathy Evans, chief executive of Children First, suggested social finance was not good for the sector.
Graham said that for Golden Lane Housing it was key for growth, and although it is not right for every charity, it was for them.
He said if a charity has a model that fits the requirements, then “absolutely I think it is the right thing to do, because ultimately there is a massive increase on the impact of what you do”.
Impact Investing: Two Top Advisors Point the Way
Steve Garmhausen – Barron’s
Can investment advisors help clients do well by doing good? Kristina Van Liew and Linda Stephans, of Merrill Lynch’s Private Banking and Investment Group, say the answer is yes.
Van Liew and Stephans, along with partner Erik Oiler, have increasingly been advising private clients on “impact investing,” the latest wrinkle in the socially responsible investing movement.
Impact investing is “gaining a lot of traction, particularly in this next generation,” says Stephans, adding that the group’s clients started dipping their toes in impact investing three years ago. “Millennial investors, in particular, are very focused on doing well by doing good.”