HESTA is proud to have contributed to the Synergis Fund to help transform the disability housing sector.
HESTA has joined a group in investing $26.5 million towards the Synergis Fund. The Fund will be used to build homes for over 100 Australians living with disability.
The Synergis Fund was established by Social Ventures Australia (SVA) and Federation Asset Management who will invest in new quality Specialist Disability Accommodation (SDA) across Australia.
“We’ve very pleased to be working with SVA and Federation to increase investments in the burgeoning disability housing sector,” says HESTA CEO Debby Blakey.
At HESTA, we use the United Nations’ Sustainable Development Goals (SDGs) as a compass for how we invest, work and advocate. Providing housing for those living with disability supports SDG 11 to make cities and human settlements inclusive, safe, resilient and sustainable.
“The way we invest focuses on the much broader impact we can have for members by aligning investments with seven strategic UN Sustainable Development Goals (SDGs), including how we can help make communities more inclusive,” says Debby.
The National Disability Insurance Agency estimates that $5 billion is needed to provide SDA for 12,000 participants to meet the NDIS goals. To help meet this goal, the fund is targeting $1 billion in investments over the next five years.
“HESTA has a long standing and strong commitment to investing in vital social infrastructure; and we’ve committed $70 million to our Social Impact Investment Trust (SIIT), which is managed by SVA,” says Debby. “Through the SIIT we invest in opportunities that deliver both a financial return for our members as well as a measurable social impact.
“A key goal of our impact investment program is to encourage other large investors to make similar investments. We believe there’s a huge untapped potential for the financial sector to both invest for a return and make a difference,” says Debby.