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Alvarium Social Housing Advisors Ltd

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

The Home Long Income Fund (HLIF) is dedicated to fighting homelessness in the United Kingdom through addressing the severe shortage of suitable housing for the homeless.

HLIF seeks to deliver superior investment returns whilst fulfilling the key objective of providing housing for homeless people.

Each asset acquired will be let to a tenant who is (i) a specialist Housing Association who is a Registered Provider of social housing, or (ii) a local authority, or (iii) a charity which specialises in homelessness which is registered with the Charity Commission, or (iv) a body, recognised by the Financial Conduct Authority, or an equivalent regulator, in relation to its charitable status or purpose. 

Whenever consistent with its fiduciary responsibilities, HLIF will encourage tenants of the assets held in the HLIF portfolio to reduce the carbon footprint of assets under their control by virtue of their leases, and will explore ways in which the fund can support its tenants to meet this objective.

HLIF will measure the environmental performance of assets acquired by the fund, both individually and across the portfolio, with environmental improvement plans put in place for individual assets.

 

 

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

HLIF's policy is intended to:
• Promote environmental protection
• Prevent pollution
• Promote sustainable development
• Meet or exceed legal compliance and planning requirements
• Anticipate future policy impacts
• Establish risks from the physical impacts of climate change and
• Minimise waste

HLIF considers sustainability, primarily but not solely, under the following parametres:
• Financial performance
• CO2 emissions
• Energy
• Accessibility
• Physical risks
• Water
• Waste
• Engagement
• Reporting

HLIF expects all new and refurbished buildings to have Energy Performance Certificates rated at C or higher, and that the design will incorporate enhanced insulation, advanced energy efficiency and a suitable range of water-saving features. HLIF will not consider acquiring buildings with an Energy Performance Certificate rating of less than D without having an affordable plan in place to improve the rating during the period of property ownership. 

HLIF will not ordinarily acquire buildings that fall short of our minimum standards unless we are able to demonstrate that affordable improvements can be made.

While keeping our focus on maximising individual assets' financial performance, HLIF endeavours to take account of its sustainability objectives by incorporating them into its business planning and reporting. By integrating such issues into the investment appraisal process HLIF aims to minimise downside risks and capitalise on opportunities for enhancing returns wherever possible.

 

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

URL/Attachment

URL/Attachment

02.3. Additional information [Optional].

HLIF is not marketed publicly. As such, information about the investment policy and strategy of HLIF is not made publicly available (for example, this information is not available on a publicly accessible weblink). However, the ESG focus of HLIF and how this is implemented by Alvarium Social Housing Advisors Limited in its role as investment manager for HLIF is explained in the HLIF prospectus. The HLIF prospectus is provided to all potential investors. As such, this information can form part of investor decision making. 


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Alvarium Social Housing Advisors Limited is committed to conducting business with the highest integrity and in compliance with the letter and spirit of the law. All employees must adhere to our management policies and procedures.

These include policies relating to conflicts of interest, and require steps in relation to:

  • Identifying potential conflicts; 
  • Assessing options to avoid or limit any conflict which has been identified; and
  • Escalation of concerns where appropriate, to avoid conflicts of interest 

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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