Agenda item

Report of the Chief Grants Officer.

The Board received a report of the Chief Grants Officer on the potential establishment of a Research and Development Fund. The Chief Grants Officer argued that such a fund was much needed as it would allow the City of London Corporation to identify trends within the social investment market and similarly to identify any gaps in the provision of social investments.

The Chairman welcomed the report and emphasised the fact that most investments made to date were between £300,000 and £500,000, and that whilst these had social impact, the fund was not designed to make investments in the smaller investment opportunities of c. £30,000-£50,000 as these often  sought unsecured finance.

During the ensuing discussion the following points were made:

·         Funds were available from The City Bridge Trust to finance a Research and Development Fund/ programme;

·         Work under the Research and Development Fund would start with a market analysis to identify trends within the social investment market and identify gaps in provision.

RECEIVED