Asset managers have been urged to collaborate with government, academics and regulators to help bolster the UK’s £150bn social impact investment sector.
An influential government advisory group, chaired by Allianz Global Investors’ vice-chair Elizabeth Corley has today published 53 wide-ranging recommendations to help channel investment into products that focus on doing good in society.
Social impact investments, which focus on exposure to assets such as large-scale infrastructure projects, social housing and companies with a specific social aim, is experiencing growing demand in the UK, particularly among so-called millennial investors — those born between the early 1980s and 2000.
But products that embed social impact investing are not widely available to retail investors. A recent survey by Barclays, the UK bank, found that 56% are interested in pursuing social impact investment products, but only 9% have made any investment in the sector.
Larger investors also have a poor grasp on social impact investing. According to a survey by pension consultants Allenbridge, just 12% of respondents said they were “well informed” on the topic.