TIDMSBSI
RNS Number : 2158X
Schroder BSC Social Impact Trust
19 December 2023
Schroder BSC Social Impact Trust plc
Q3 2023 Quarterly Net Asset Value - 30 September 2023
The Board of Schroder BSC Social Impact Trust plc (the
"Company"), which provides a unique investment opportunity to help
address UK social challenges, today announces its unaudited net
asset value ("NAV") as of 30 September 2023.
Key Highlights
-- NAV of GBP87.8m or 104.22p per share as of 30 September 2023,
a decrease of 0.65% relative to the NAV per share as of 30 June
2023 (104.90p).
o The High Impact Portfolio detracted 0.56p from returns, mainly
due to a valuation reduction of an investment in the Bridges
Evergreen portfolio, partially offset by income and some capital
gains from the other High Impact investments, which continued to
perform in line with their respective targets.
o The Liquidity Assets portfolio contributed 0.13p to NAV /
share.
o Fees and expenses accounted for 0.31p per share for the
quarter (equivalent to an ongoing charges ratio of 1.19% annualised
/ FY2023 OCR: 1.27% ).
o Share buy-backs were slightly accretive to NAV / share in the
period.
-- Total NAV/share return since inception of 7.91%.
-- As of 30 September 2023, 96% of our capital was committed to
High Impact Investments, and 84% was deployed. During the
quarter:
o GBP0.9m of capital was drawn down during the quarter, mainly
into Debt and Equity for Social Enterprises investments via the
Charity Bank co-investments and capital recycled into the Community
Investment Fund (CIF).
o GBP1.9m of capital was repaid, mainly via distributions from
the Social Outcomes Contracts portfolio and a net distribution from
the Community Investment Fund (CIF).
For further information, please contact:
Schroders
Augustine Chipungu (Press) 0207 658 2016
Kerry Higgins (Schroder Investment
Management Limited, Company Secretary) 0207 658 6189
Big Society Capital
Emma Hickinbotham, Ehickinbotham@bigsocietycapital.com
Managing Director, Communications
Winterflood Securities Limited 020 3100 0000
Neil Langford
About Schroder BSC Social Impact Trust plc
The Company was launched in December 2020, with the objective to
enable access to high social impact investment opportunities in
private markets - tackling social challenges across the UK. The
Company aims to build a diversified portfolio across asset classes,
targeting sustainable returns, demonstrable social impact, and low
correlation to traditional public markets.
Further information about the Company can be found on its
website at www.schroders.com/SBSI
About Big Society Capital
Big Society Capital is the UK's leading social impact investor.
Our mission is to grow the amount of money invested in tackling
social issues and inequalities in the UK. We do this by investing
our own capital and helping others invest for impact too.
Since 2012, we have helped build a market that has directed over
GBP9 billion into social purpose organisations tackling issues from
homelessness and mental health, to childhood obesity and fuel
poverty, a more than ten-fold increase.
Further information about Big Society Capital can be found at www.bigsocietycapital.com
About Schroders plc
Schroders is a global investment management firm with GBP726.1
billion (EUR846.1 billion; $923.1 billion) assets under management,
as at 30 June 2023. Schroders continues to deliver strong financial
results in ever challenging market conditions, with a market
capitalisation of circa GBP7 billion and over 6,100 employees
across 38 locations. Established in 1804, the founding family
remains a core shareholder, holding approximately 44% of Schroders'
shares.
Schroders has benefited from a diverse business model by
geography, asset class and client type. It offers innovative
products and solutions across four core growing business areas;
asset management, solutions, Schroders Capital (private assets) and
wealth management. Clients include insurance companies, pension
schemes, sovereign wealth funds, high net worth individuals and
foundations. Schroders also manages assets for end clients as part
of its relationships with distributors, financial advisers and
online platforms.
Schroders aims to provide excellent investment performance to
clients through active management. It also channels capital into
sustainable and durable businesses to accelerate positive change in
the world. Schroders' business philosophy is based on the belief
that if we deliver for clients, we will deliver for our
shareholders and other stakeholders.
Issued by Schroder Investment Management Limited. Registration
No 1893220 England. Authorised and regulated by the Financial
Conduct Authority. For regular updates by e-mail please register
online at www.schroders.com for our alerting service.
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