Access – The Foundation for Social Investment has spent its original £60m endowment from the government but plans to continue operating with additional funding received last year.
In its latest endowment impact report, published today, the social investor reported that 62% of its endowment was invested in organisations delivering social impact, including 42% in UK charities and social enterprises as of 2024.
Overall, Access’s endowment has delivered a 17.2% return after fees from the inception of its portfolio in July 2016 to the end of 2024, which it said demonstrates that “mission-led investment can perform strongly even in challenging conditions”.
Emilie Goodall, chair of Access’s endowment investment committee, said: “Our approach is about integrating our purpose into every financial decision, demonstrating that returns and social impact can go hand in hand.
“By exploring the impact of every pound, we ensure our endowment is actively advancing our mission today. We hope this report gives other foundations the confidence and practical insight to align their own investments with their purpose.”
Dormant assets
Access was initially set up to spend its £60m endowment then close after 10 years.
The investor finished spending its original endowment in November last year but it had decided in 2022 to continue operating beyond a decade with a “renewed mission”.
It also received £87.5m from the government’s dormant assets scheme last year to invest in underserved places and communities.
Despite the recent funding, Access does not intend to exist in perpetuity and will have the need for its services reviewed periodically by the Oversight Trust.
In its latest review, published last month, the Oversight Trust said “the social investment ecosystem remains fragile despite continued subsidy, currently largely via Access, and despite the overwhelming social benefits delivered by social enterprises”.
