Introducing our latest Impact Report

Since Newcore launched over a decade ago, we have tried to run our capital management business in a different way to the mainstream. We believed, even back then, that the “pre-2008” model of capital management - that led to the financial crisis and which was a prelude to current day economic market conditions - was not a sustainable one.?

Our 2021/22 Impact Report explains how we try to do this.?

Newcore’s mission is simply to deliver strong returns from sustainable investment in social infrastructure.?

??We are driven by a belief?that strong and sustainable risk-adjusted returns are best achieved on a long-term basis when you adhere to a rigorous governance framework and incorporate community and environmental considerations into business plans - both at fund and management platform level. That ethos has helped us to deliver 17%+ p.a. aggregate IRR on AUM since inception (with modest financial leverage) and we were the first dedicated UK real estate investment manager to certify as a B Corporation.?

?For Newcore, the past 12 months have resulted in the formal integration of our social and environmental objectives and?the launch of our?latest UK social infrastructure fund, NSS V LP.??In 2022, we’ve updated our brand, clarified our mission and launched a new website. We’ve also published our latest Impact Report where we reflect on what we’ve done, not managed to do; and what we want to do in the future (you can read here).?

?You may wish to read our report from cover to cover but if not, we have summarised the highlights below:

?Management Platform

?1.?????Winning the UK Property Awards Fund Manager of the Year award in 2021: “demonstrating a clear and measurable ESG strategy, particularly in relation to social impact

2.?????Since Newcore was founded in 2011 it has made donations of ￡448,531?

3.?????Employees can use up to 10% of their time to charities and non-profit organisations

4.?????Creation of an ESG and Impact Committee, chaired by our CEO and coordinated by our Director of Sustainability

5.?????Newcore’s foundation receives at least 10% of our profits each year, in addition to supporting our staff-chosen charity partner

6.?????Commitment to provide internships to people from low socio-economic backgrounds, working with Oxford University’s Crankstart initiative

7.?????Newcore’s platform and funds are all on-shore and we structure our performance related fees to pay income tax rather than CGT.

8.???Co-chair the B Corp Finance and Investment Group and chair the LandAid Probono Panel and advocate generally for change in modus operandi of the fund management and property industries

?Funds

9. ???Maintained our refurbishment first strategy to ensure that the best use is made of the embodied carbon in assets?

10 ?Commitment to align to a 1.5C degree pathway and to set out detailed plan to net-zero, no later than 2040.

11.??Recognised the importance of biodiversity and nature, committing to set out how we integrate biodiversity into our funds.

12.?Continuing to add a new supply of social infrastructure assets (healthcare, education and life sciences) through regeneration and future proofing

13.??Introduced a new policy to allocate 10% of net operating income from assets to improve above and beyond policy requirements environmental impact (i.e. lowering energy, mitigating waste, reducing water consumption and/or increasing biodiversity)

14.??Identified how target outcomes of our investment strategy align with the UN’s SDGs (3, 4, 8, 9, 11, 7, 13)

15.??Submitted to GRESB for NSS Fund IV in 2020 and submit NSS Fund V in 2023

16.??Voluntarily shadow, under social impact measurement, Article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR) the darkest green rating of positive impact that an alternative investment fund manager can achieve, with sustainable social impact as its guiding metric.

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We know that we still have a lot more to do. We will continue to learn and adapt to the changing landscape around what it means to be a responsible and ethical business

Please read our latest Impact Report here and let us know your feedback.?