The Aspire Social Impact Bond (Aspire SIB) is Australia’s first homelessness focused SIB.
The Aspire SIB offers investors the opportunity to generate a competitive financial return while making a lasting difference to the lives of people experiencing homelessness in Adelaide.
The bond funds the Aspire Program, which is delivered by Hutt St Centre, an Adelaide based homelessness services specialist, in partnership with community housing providers including Common Ground Adelaide and Unity Housing.
It is anticipated that around 600 adults who are experiencing homelessness will be referred to the Aspire Program over a four year period. Each person will be offered support for up to three years.
The Aspire Program is based on the ‘housing first’ intervention model, and has been designed to focus on strengthening community engagement and employment participation. Under the Aspire service model, participants are provided stable accommodation, job readiness training, pathways to employment and life skills development. Importantly, they also have the long term support of a dedicated ‘Navigator’ to help them connect with wider support services and identify and achieve their aspirations.
Watch this video for an illustration of how the Aspire SIB aims to end homelessness for those it supports (00.04.21).
Download an overview on the Aspire SIB. (PDF, 297KB)
The Aspire SIB structure
- Investor returns are determined by Government payments to the Aspire SIB Trust, which are based on savings generated.
- Outcomes are determined by measuring health, justice and homelessness service utilisation relative to historical baseline.
- 7.75 year bond term.
- 2% pa fixed coupon over 4.75 years, then performance coupon based on level of Trust assets.
- Termination rights for poor performance to limit downside loss to approximately 50% of principal.
- Target scenario estimated return 8.5% pa (objective only).
Please note that the Aspire SIB is now closed for investment.
For further details, please refer to the following documents;
- Aspire SIB Information Memorandum (PDF, 2MB)
- Aspire SIB Deed Poll, Purchase Deed and Note Issue Supplement (PDF, 993KB)
SVA prepares a report on the results of the Aspire SIB.
Aspire SIB Annual Investor Report – 2020 (PDF, 22MB)
Aspire SIB Annual Investor Report – 2019 (PDF, 1MB)
Aspire SIB Annual Investor Report – 2018 (PDF, 2MB)
- March 2020 COVID-19 investor update
- July 2019 investor update
- June 2018 investor update
- October 2017 investor update
Further Investor information can be found on this page.