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#FaithinPartnership

Three new reports on partnership working between faith and local government.

New social investment fund launches in Bristol

A new £5m social investment fund has launched in Bristol, developed and run by Resonance and sponsored by UBS Wealth Management.

The Resonance Bristol Social Investment Tax Relief Fund aims to incentivise investment in charities, community interest companies and community benefit societies. It has targeted a post-tax Internal Rate of Return of about 8 per cent.

The fund is open to eligible investors from today, with a minimum investment level of £10,000. It will soon be available on the UBS Wealth Management platform, and to UBS Wealth Management clients and clients of IFAs who may have a relationship with UBS.

Resonance plans to grow more than £30m of SITR Funds in several other cities across the UK over the next few years. But, announcing the fund’s launch, Resonance said further expansion is dependent on the removal of an EU cap which effectively limits SITR investment to £275,000 for each individual organisation.

Read the rest of this article at Charity Times.