Government role in market development crucial
The Australian government is playing an important role in developing a ripe market for impact investing, which is being favourably emphasised in the release of its new social impact investing discussion paper, according Impact Investing Australia.
The paper, which was launched on 28 January, indicated that funding impact investments would be the key to the creation of an enabling environment. Impact Investing Australia chair, Rosemary Addis, said it was a positive move and time the government focused on market opportunities that could benefit the greater good.
"Impact investing holds enormous potential to address some of our most intractable societal challenges, by unlocking additional forms of capital and finding innovative solutions," she said.
"We are pleased the government is examining the role it can play in developing the impact investment market …and realising the opportunities impact investing offers."
Addis said government involvement and financial backing were vital for the development of impact investing in Australia, and would be a reflection on the effects government leadership and policy initiatives could have on catalysing strong market activity.
"The Australian government has a critical leadership role to play," she said.
"Impact investing provides government with a powerful tool for delivering better societal outcomes for people and communities."
AUTHOR
Hope William-Smith
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
