Quarterly Net Asset Value - 30 September 2023

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 £87.8m 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  £0.9m 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  £1.9m 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) Kerry Higgins (Schroder Investment Management Limited, Company Secretary)	0207 658 2016 0207 658 6189
Big Society Capital
Emma Hickinbotham, Managing Director, Communications	[e-mail]
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 £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.

Further information about Big Society Capital can be found at www.bigsocietycapital.com

About Schroders plc

Schroders is a global investment management firm with £726.1 billion (€846.1 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 £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 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.

 

END