We are always pleased with being able to attract an increasing number of investors, demonstrating how more people are finding a way to put their money behind the change they want to see in the world. But we have over the years built a growing pool of returning investors that now feel part of the wider Resonance community. It is evidence of the values alignment we are creating as much as it is a reflection of the commercial and impact performance being achieved. We’re thrilled to now count 82 investors in our community where we are working with them on multiple strategies or where they have topped up their investment into one of our funds.

As well as raising £50m of new investment into our funds, this year was the first year we returned a significant amount of capital to investors in our property funds. Deployment has picked up a little
post pandemic but still not back to pre pandemic levels. Bedding down our relationships with twenty
new housing partners takes time but is bearing fruit. However the government’s mini budget of September 2022 and continued freeze on Local Housing Allowance has severely affected flows of capital into and out of our funds. Meanwhile the need gets bigger and so our resolve is undiminished.

Whilst critical, investment is rarely enough on its own. Almost all social enterprises need strengthening in other ways as well. This can be an intense short-term piece of work before or after a transaction, or a longer light touch relationship. In some cases, we are able to support organisations on their journey to scale their social impact without the need for investment at all. For the third year running much of our enterprise support work focused on distributing grants through the Social Enterprise Support Fund from the National Lottery Community Fund, to social enterprises across the UK as part of a consortium.

We buy homes for people facing crisis whether that is exiting temporary accommodation, fleeing domestic violence or coming out of institutional settings. Each home houses on average a little more than two people and then with some natural churn (about 10% pa once the portfolio has settled), the property is available again for a new family. The 1,000 homes we have purchased in total to date, has over the period we have owned them created a safe, affordable, healthy space for over 3,500 very important people!