REG - Schroder BSC Social - Q1 2024 Quarterly Net Asset Value – 31 March 2024

Schroder BSC Social Impact TrustAnnouncement

26/06/2024 07:00

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RNS Number : 8224T  Schroder BSC Social Impact Trust  26 June 2024

Schroder BSC Social Impact Trust plc

 

Q1 2024 Quarterly Net Asset Value - 31 March 2024

 

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 31 March 2024.

 

Key Highlights

·    NAV of £85.6m or 102.62p per share as of 31 March 2024, a decrease
of 0.42% relative to the NAV per share as of 31 December 2023 (103.05p).

o  The High Impact Portfolio contributed 0.18p to returns, driven by interest
income from the Debt for Social Enterprise investment and a ramp-up of rental
income from High Impact Housing investments, partially offset by a provision
against one of the charity bonds which required an extension in maturity.

o  The Liquidity Assets portfolio detracted by 0.37p from NAV / share.

o  Fees and expenses accounted for 0.30p per share for the quarter
(equivalent to an ongoing charges ratio of 1.31% 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 8.58%, or 2.54% annualised.

·    As of 31 March 2024, 89% of NAV was deployed into High Impact
Investments. During the quarter:

o  £0.2m of capital was drawn, mainly into High Impact Housing investments
via the Social and Sustainable Housing fund (SASH).

o  £2.1m of capital was repaid, mainly due to the final repayment of the Sue
Ryder loan, a recallable distribution from the Community Investment Fund
(CIF), and capital distributions from the Social Outcomes Fund II (SOF II).

·    Following quarter end, the Company announced a new £5m commitment to
the Simply Affordable Housing Fund
(https://otp.tools.investis.com/clients/uk/schroder_bsc_social_impact_trust_plc/rns/regulatory-story.aspx?cid=2682&newsid=1806286)
, managed by Savills. The Fund will deliver affordable homes across the UK,
with a focus on areas with high local authority waiting lists and areas ranked
within the lowest 40% in the Index of Multiple Deprivation.

·    The Company's third Annual Impact Report will be published in July
2024.

For further information, please contact:

 Schroders
 Kirsty Preston (Press)                                      020 7658 1961

 Schroder Investment Management Limited, Company Secretary   020 7658 6000

 Big Society Capital
 James Westhead,                                             JWesthead@bettersocietycapital.com

 Managing Director, Communications

 Winterflood Securities Limited
 Neil Langford                                               020 3100 0000

 

 

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 and to
tackle 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
(https://protect-eu.mimecast.com/s/KiDaC3QwvHLPPRfqceyJ?domain=schroders.com)

About Better Society Capital

Better 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 £9 billion
into social purpose organisations tackling issues from homelessness and mental
health, to childhood obesity and fuel poverty, a more than ten-fold increase.

As of April 2024 Better Society Capital changed its name
(https://otp.tools.investis.com/clients/uk/schroder_bsc_social_impact_trust_plc/rns/regulatory-story.aspx?cid=2682&newsid=1813913)
, having previously been known as Big Society Capital. The Company name
remains the Schroder BSC Social Impact Trust and there is no change to the
share register, portfolio or investment thesis.

Further information about Better Society Capital can be found
at www.bettersocietycapital.com (http://www.bettersocietycapital.com)

About Schroders plc

Schroders plc

Schroders is a global investment management firm with £760.4 billion assets
under management, as at 31 March 2024. Schroders continues to deliver strong
financial results in ever challenging market conditions, with a market
capitalisation of circa £7 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 markets) 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.

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