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Resonance Impact Investment Funds

Social performance

The Resonance SITR Funds aim to contribute to dismantling poverty and inequality through providing affordable and sustainable investment to social enterprises that generate positive social impact, generating positive social impact contributing to this big and ambitious goal.

Taking a regional approach

Following the success of Resonance’s first Social Investment Tax Relief (SITR) Fund in the South West, Resonance is has developed SITR initiatives in two other regions of the UK as a way of unlocking more affordable, flexible growth finance for high impact social enterprises. The Resonance West Midlands SITR Fund launched in 2016 as the second region open for investment and in May 2019 the Resonance North West Fund launched. Further regions will be launched in the coming years.

Having a geographic focus means that the Fund can take a coordinated approach to supporting social enterprises through investment, potentially seeing connections between them, and remaining close to the ground for both identification of enterprises to invest in and monitoring of investments made.


Key Social Performance Indicators (KSPIs)

KSPIs are a measure of how the business is performing on delivering its main social or environmental purpose. Read more

KPSI 1 -Dismantling poverty and deprivation

South Bristol Sports Centre
“South Bristol Sports Centre has helped me use football to get away from my troubled background and get back in a classroom – a place I hated... I specialise in working with ‘hard to reach children’, as I have been there and can relate." Billy Downes, 23


In Bristol, according to the Indices of Multiple Deprivation, 69,000 people (16% of the Bristol population) live in areas that are among the 10% most deprived in England, with some areas among the most deprived 1%. Over a quarter of children in the city live in poverty once housing costs are taken into account.

The West Midlands continues to face persistent poverty and inequality: at the heart of the region, Birmingham continues to be ranked as the sixth most deprived of England’s 326 Local Authority areas, closely followed by Sandwell and Wolverhampton (ranked tenth and fourteenth most deprived, respectively).

The Funds have a stated aim to contribute to dismantling poverty and inequality in the areas of their geographic focus. The Funds are “evergreen” and will continue to invest for the long term in diverse social enterprises intentionally addressing these problems from many different angles.

Case Study - South Bristol Sports Centre (SBSC)

What they do
SBSC engages and includes young people through sport, increasing their confidence and offering training, particularly in poor parts of South Bristol. Revenue comes from hiring out facilities to adults.

What the fund invested
£250k loan over six years (April 2016)

Using the investment
Six new five-a-side football pitches suitable for year-round use, increasing engagement by young people and providing a revenue stream from evening hire.

Intended Impact
Reaching young people in particularly deprived areas of the city through sport: productive use of time, increasing skills and confidence with opportunities to become coaches.

What excited Resonance
The fact that SBSC was established with a charitable purpose and had an “inclusion manager” set it apart from other sports centres. It was clear that this organisation has a passion to see young people reach their potential by giving them the support and self-confidence to do so.

KPSI 2 - Supporting Social Enterprise

Social enterprises can be key agents of change in tackling the problems of poverty and deprivation. The creation of the Resonance SITR Funds seeks to provide affordable finance to these organisations as well as providing a return to investors.

The South West, West Midlands and North West regions have developed thriving social enterprise sectors committed to supporting these communities through innovative business models

Siting the funds in these areas therefore presents an exciting opportunity to build a strong, diverse portfolio of social enterprise investments, with significant potential for generating social impact at scale.

KPSI 3 - Transparency of impact reporting

As well as traditional financial reporting, Resonance produces an annual Social Impact Report for each of its funds. This allows investors to see how their investment is contributing to impact, and allows Resonance and investee organisations to improve their impact over time.

To read last year's Social Impact Report for the Resonance SITR Funds please see the download below.

Common Social Performance Indicators (CSPIs)

CSPIs are social performance indicators that are common to all businesses, no matter what their main business activity is. Read more

Creating local employment

Resonance does not currently track this indicator in aggregate across all of its investees since that is not always their area of focus. However, because of the regional nature of the Funds, it supports local social enterprises to grow and flourish, to employ and train more local people. Many of the enterprises do have an explicit focus on providing routes to employment for vulnerable or marginalised groups, particularly young people.

Community investment

The nature of Resonance's work providing support to social enterprises seeking financing means that it has a significant positive impact on community investment. During 2018/19 fifteen communities across the UK have been positively impacted by the social enterprises it has supported.

Ethical procurement

Resonance does not currently track this indicator. It does however seek to use social enterprises in its supply chain where they represent the best solution to a supply need.


Common environmental performance indicators (CEPIs)

CEPIs are environmental performance indicators that are common to all businesses, no matter what their main business activity is. Read more

Carbon emissions

Resonance does not currently monitor its operational business impact on carbon emissions. However, given the nature of its work in investment management, it does not have a significant carbon footprint compared to businesses in some other sectors.

Travel to work

Resonance has five offices across the UK and makes every effort to recruit staff who are “local” to the office where they will be based.

Waste and recycling

Resonance does not currently track this indicator. Given the nature of its work in investment management, it does not have a significant waste footprint compared to businesses in some other sectors. It does however seek to recycle waste where possible.

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