ASIT has a long-term vision and commitment to sustainable positive social change. Core to this is the incubation and establishment of Australia's first Children's Wealth Fund.
Our commitment will support a sophisticated sovereign wealth fund model with co-investment opportunities from the private sector, philanthropy and individuals.
The Children's Wealth Fund is long-term investment strategy. It involves creation of a significant investment pool that invests exclusively in social and responsible investments.
This will be supported by a sophisticated sovereign wealth fund model that creates co-investment opportunities from the private sector, philanthropy and individuals. The aim is to create a core fund with consistent social outcome measures and return on investment (ROI) that contributes significantly to the development of a social investment market in Australia.
The Children's Wealth Fund will simultaneously provide the beneficiaries (Australian children and young people) at the conclusion of the investment period with:
Adequate available funds to provide for 'transition to adulthood' needs, tailored specifically to each individual young person's needs (eg housing, health, education & career development, financial planning and life skills for example) from ages 18 to 25 years of age
2. Societal benefits from the social outcome returns (societal results) the fund has created through its social and responsible investment strategy, throughout the investment term
3. ROI for public and private investors.
ASIT has commenced its investment in modelling and structuring the development of the fund. We are currently establishing an Advisory Board to continue the co-creation and implementation preparation for this initiative.
We intend the first beneficiaries of this fund to be the most vulnerable children and young people in our society: those in the out-of-home care (foster care) system.
Our Place brings together government, non-government, big and small business, philanthropy and community members to tackle complex social issues locally to break the cycle of disadvantage.
ASIT worked directly with Settlement Services International (SSI) to produce its Strategic Plan 2017-2020, to help equip SSI to move to its next stage of development.