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The Housing Impact Fund for South Africa (HIFSA)

HIFSA

INVESTMENT OBJECTIVE

The Housing Impact Fund for South Africa (HIFSA) is a “Development Impact Fund” which seeks to provide commercially viable investments into the low income housing sector while enabling investors to achieve targeted investment points as defined in the Financial Sector Charter. HIFSA invests primarily in housing and housing-related assets within South Africa, and aims to achieve the maximum risk-adjusted return possible from this asset class. The fund invests in all aspects of the housing value chain, from the physical development of housing through to mortgage and incremental housing finance.

WHO WE ARE

HIFSA is managed by the Development Impact Funds Team within OMIGSA* Alternative Investments on behalf of institutional investors. The Development Impact Funds were founded to provide investors with commercially viable low income investments to satisfy the investment criteria of the Financial Sector Charter. The Development Impact Funds Team manages in excess of R13bn (Dec 2011) across the Development Impact Funds, and to date has originated approved deals of R11.5bn (Dec 2011) of which committed funds amount to R7.2bn (Dec 2011).

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A Glimpse into the Development Impact Funds

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Financial services group Old Mutual’s investment arm has raised R9-billion for its innovative Housing Impact Fund for South Africa, which aims to help South Africans earning less than R15 000 a month to meet their housing needs.

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In a city such as Cape Town, a massive 40% of the population is living in inadequate housing, according to a recent report by the African Centre for Cities (ACC), which is associated with the University of Cape Town.

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Old Mutual Investment Group head of sales Rojie Kisten says funds invest in all forms of housing-related investment, including physical development, the ownership of rental properties and end-user finance.

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Some of the existing Financial Sector Charter (FSC) Fund investments have been or are in process of being transferred into the new Housing Impact Fund for South Africa (HIFSA)

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