What you need to know to invest in this fund

Our West Midlands Social Investment Tax Relief Fund is the second of a number of region focused funds that Resonance is launching over the next few years, investing in social enterprises in specific city regions around the country.

The West Midlands launch comes after the successful launch and initial deployment of the Resonance Bristol SITR Fund (one of the first investment funds in the country to benefit from SITR). The Resonance Bristol SITR Fund has now raised £2.8m of its £5m target raise, has made its first eight investments and has published its first annual social impact report.

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 in order to scale up the impact of their projects, while reducing the risk for investors as they receive a 30% return up front through the tax relief.

Our experience is showing that there is a real opportunity for these investment funds to address poverty and inequality in our cities, where deprivation and wealth exist in close proximity.

Some of the leading wealth managers and IFAs whose clients have invested in the Resonance SITR Funds are listed below.

For further information and examples of the types of West Midlands based social enterprises in which this Fund is investing, please watch the short video and download the briefing note below.

 

There is an extended edit of the video here.

INVESTMENT PROPOSITION KEY FACTS:

  • WHO YOU LOAN TO: PORTFOLIO OF SOCIAL ENTERPRISES IN THE WEST MIDLANDS
  • IMPACT: DISMANTLING POVERTY IN THE WEST MIDLANDS
  • TARGET FUND SIZE: £5M (CURRENT FUND SIZE £1.5M)
  • EXPECTED RETURNS: 7-8% POST TAX RELIEF (12% GROSS EQUIVALENT)
  • TERM: 6-8 YEARS
  • ASSETS: UNSECURED LOANS TO SOCIAL ENTERPRISES
  • OPEN FOR INVESTMENT: YES