Home REIT is where the heart should have been
In impact investing, the order of things is important. 'Social impact' through 'investment with a sustainable return' - Was that reversed with Home REIT?
Summary: The collapse in Home REIT's share price has drawn questions from shareholders about how closely the REIT's investment philosophy for social impact was being followed.
Why this is important: As interest in impact investing grows along with capital available and willing to be deployed, the veracity of projects and fund strategies will be key.
The big theme: Impact investing seeks to improve lives either through social or environmental projects. It has grown materially in the past decade and can have important leveraged impacts developing local communities, reducing the draw on social services, improving lives and providing economic sustainability. 'Doing well by doing good' is a careful balance with potentially direct and immediate sacrifices of some return resulting in longer term benefits to society as a whole.
The details
Summary of a story from Portfolio Adviser
Law firm Harcus Parker is seeking compensation on behalf of Home Reit shareholders and has called on the REIT trust to explain links between potential bidder Bluestar and its fund manager Alvarium. Following the AGM on Monday 20th Feb 2023, no proposals were put forward and the meeting was used as an opportunity to engage with shareholders. Jennifer Morrissey, partner at Harcus Parker, pointed out that shareholders had suffered substantial losses and had yet to see the publication of the long overdue financial results. There was also no clear indication as to when the outcome of an independent investigation into alleged wrongdoing would be published.
