Time: Social long income fund achieves FCA sustainability impact rating
Fund name changes to ARC TIME Social Impact Property Fund to reflect new rating.
TIME Investments, which specialises in real asset income-producing funds, has achieved the Sustainability Impact label under the FCA’s new Sustainability Disclosures and Labelling Regime for its TIME: Social Long Income Fund, demonstrating that it invests in assets which have a positive impact on society.
The Sustainability Impact label recognises the positive impact that the Fund will demonstrate the positive impact of its investment activities and the Fund’s assets. To reflect the new rating, the Fund’s name has changed to the ARC TIME Social Impact Property Fund.
The Fund is one of just a few to achieve this status
The Fund is one of just a few to achieve this status since the FCA introduced its Sustainability Disclosure Requirements earlier this year as part of a crackdown on greenwashing and ensuring firms back up claims they make about their ESG credentials.
The Fund invests directly in properties across sectors within healthcare, housing and education. The properties and sectors are providing essential services across the UK and each asset is expected to deliver a positive social impact. The Fund enables investors to contribute to a positive impact on society while targeting a long-term, attractive and risk-adjusted return.
The Fund invests in retirement homes, GP surgeries and nurseries
Assets that the Fund invests in that provide a positive social impact include retirement homes, GP surgeries and nurseries. For example, this includes caring for the elderly and those with dementia in care homes where those individuals experience less isolation and have access to more appropriate care, such as the administration of medication.
The Fund also invests in specialist supported housing adapted for individuals with long-term care needs and for vulnerable individuals, promoting independence and increasing access to medical services which support complex conditions.
Stewardship activities are carried out, including tenant engagement
To support the Fund’s assets in delivering the sustainability objective, specific stewardship activities are carried out, including tenant engagement, investment manager and independent valuation and regulatory reporting and monitoring. It also adheres to a number of sustainability KPIs to ensure progress towards the sustainability objective of the Fund. For example, the number of beds and spaces, rent affordability and ‘additionality’ – the specific contribution the investment or asset makes towards the social outcome targeted within a location where there is an identified unmet need or underserved group of people.
Roger Skeldon, Head of Real Estate and Co-Fund Manager of TIME:Social Impact Property commented: “It has long been an objective of the Fund to deliver a positive impact on the communities in which its assets operate. Achieving the FCA’s Sustainability Impact label is a fantastic recognition of the TIME:Social Impact Property’s contribution to society and something we are extremely proud of.”
TIME is part of the Alpha Real Capital Group, which encompasses Alpha Real Capital LLP (AlphaReal) and TIME Investments. AlphaReal is a specialist institutional real assets investment manager focused on secure income strategies. It invests in UK and European assets with predictable secure long-term cash flows. It provides market leading and innovative real asset solutions across a range of investments such as Commercial Ground Rents and long lease property, renewable infrastructure, social infrastructure and secured lending.
TIME is the Group’s authorised wealth management investment solutions arm. The Group works with a wide range of UK, European and international investors, including pension funds and other large institutional investors, as well as private investors, family offices and wealth managers. Together, the Group has a 180-plus strong professional team and £4.5 billion of assets under management.
The value of investments and the income from them may fall or rise due to fluctuations in the market, currency, or other factors, and investors may not get back the original amount invested. Any past performance data cited is not a reliable indicator of future results.
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