In relation to the Cheyne Social Property Impact Fund, Cheyne appoints, on an annual basis, an independent agent with expertise in the area of impact measurement to conduct a social impact audit. The independent impact auditor will be asked to review and comment on amongst other things:
1. A review of the social sector organisation (SSO), its mission and whether the SSO satisfies the investment policy of the Fund.
2. A review of the target beneficiary and the impact that is delivered to the beneficiary group
3. A review of the outcomes and impact variables that are being measured.
4. A commentary on whether the investment is achieving the stated impact objectives.
The results of the audit will be presented to the Board of the Fund and sent to all LPs. On an annual basis, Cheyne will host a meeting of LPs at its offices. The annual meeting will be an opportunity to comment and discuss the investments made and the result of the social impact audit.