Saïd Business School students to invest $5m in the bond market to deliver positive social impact

MUMBAI: A team of students from Said Business School at the University of Oxford will invest up to $5,000,000 in the bond market focusing exclusively on projects that tackle challenging social issues and deliver meaningful, positive social impact. The new 'Said Business School Impact Bond Fund', which has been funded by Zions Bank, will give students behind-the-scenes access to the management of investments in projects related to education, progressive finance, healthcare, housing, infrastructure and the environment.

'The aim of the Fund is twofold,' said John Hoffmire, Director of the Impact Bond Fund at Said Business School. 'As a learning experience it will it give students a unique opportunity to gain real-life skills in investing at an early stage of their financial careers. Students will have to carefully research the market and demonstrate sound financial and ethical judgement in seeking out suitable bonds for investment. The different securities receiving investment will enable the sponsors to have to continue to create jobs and unlock the enormous potential in the social sector to improve people's lives.'

The 15 students managing the Fund are drawn from the School's MSc in Financial Economics programme and the Oxford MBA programme. Working in small teams each will conduct research into potential securities for investment looking for possible projects and organisations that can demonstrate a specific social outcome. The groups will make their recommendations to the rest of the team who will democratically vote on the bonds to buy. The investments are to be made short-term and sold after 8 weeks with any profits returned to Zions Bank. At the end of the holding period, the fund members intend to critically evaluate their performance and identify room for improvement providing a platform for the fund's long-term success.

'Our team has assumed full directorship of the Fund and will jointly approve its investment decisions,' said Omar Zulaica, a student on the MSc in Financial Economics. 'We aim to generate returns by investing in securities that will directly improve societal welfare over the long run.' David Subel, another MSc student continued: 'Our strategy is aimed at demonstrating that investment returns and social considerations can, indeed, be complementary. We also hope to advocate for the role of social responsibility in the marketplace and encourage others to pursue similar efforts in the future.'

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