What you need to know to invest in this fund
Our Bristol Social Investment Tax Relief Fund is the first of a number of funds that Resonance plans to launch over the next few years, investing in social enterprises in specific city regions around the country.
Social Investment Tax Relief (SITR) offers tax breaks to investors who invest in Charities, Community Interest Companies or Community Benefit Societies. It simultaneously drives down the cost of capital for social enterprises that need funding to scale up the impact of their projects, and reduces the risk for investors since they receive a 30% return up front through the tax relief.
Wealth Manager UBS sponsored the development of the Resonance Bristol SITR Fund, which launched in February 2016 to invest in local social enterprises that work to dismantle poverty in the city. This Fund has begun to invest but remains open for new investors to join.
Resonance believes there is a real opportunity for these investment funds to address the problems of inequality in our cities where deprivation and wealth exist in close proximity.
Investment Proposition Key Facts:
Who you loan to: Portfolio of Bristol Social Enterprises
Impact: Dismantling Poverty in Bristol
Target Fund Size: £5m, Current Fund Size £2.1m
Expected Returns: 7-8% post tax relief (12% Gross Equivalent)
Term: 6 - 8 years
Assets: Unsecured loans to social enterprises
Open for Investment: Yes