Money Matters: Cabinet Office, Big Issue Invest, St Giles Trust

David Ainsworth's round-up of what's happening in the finance world

More than 110,000 charities and social enterprises have been asked to submit views about the state of the sector to the Cabinet Office. The survey is open only to invitees and can be completed at www.nscsesurvey.com. Results will be published early in 2011.

The social lender Big Issue Invest has so far raised £3m for its Social Enterprise Investment Fund, it announced last week. The fund, which was launched in April, will make between 25 and 30 investments of between £100,000 and £500,000, with an expected average term of five years. Investors include Deutsche Bank, the Esmee Fairbairn Foundation and the National Endowment for Science, Technology and the Arts.

The first programme funded by the Social Impact Bond began last week. Run by members of staff at St Giles Trust at Peterborough Prison, the project offers investors in the bond a return if reoffending among the people they support drops by 7.5 per cent over a 12-month period. The bond was created by Social Finance and is backed by the Big Lottery Fund and the Ministry of Justice.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus