The AU$7 million social benefit bond (SBB) funding the Newpin program run by UnitingCare Burnside will deliver a return of 7.5% to investors this year after its first 12 months.
According to Social Ventures Australia (SVA), which launched the SBB, Deloitte has certified the 7.5% return for the Newpin SBB. The SBB is Australia’s first offering and funds the Newpin program run by UnitingCare Burnside, which operates out of four centres in Sydney’s west. The program is designed to prevent children entering foster care and improve the rate of children being safely returned to their families. The bond will fund the maintenance of existing centres, and the planned expansion of six more centres in New South Wales.
The content you are trying to access is only available to subscribers. There are several options available to you if you want to view this content, from full subscriptions to temporary passes just for this article. Click here for more information.
Latest posts by Rachel Alembakis (see all)
- Human rights considerations part of trustee board obligations - August 28, 2015
- Demand for ethical products strong: Ethical Advisers’ Co-Op - August 28, 2015
- Northern Trust makes case for combining quality with ESG - August 28, 2015