New bond programmes being launched for charity groups

New bond programmes worth tens of millions of pounds are being created on behalf of several large charities by social investment broker Investing for Good.

Third Sector reports that the organisation's chief executive Geoff Burnand announced the development of these new funds, worth up to £10 million.

He told the news provider that he will also be responsible for further bond issues in the future.

Investing for Good already supports the £20 million Scope Charity Bond, which is being used as something of a pilot case, to see how strong demand is among wealth management firms and private investors.

Mr Burnand also indicated that the company is planning to move into the offices of the Social Investment Business (SIB), although he said they will remain independent for the time being, despite having discussed the possibility of a merger.

He currently serves as director of fund development for the SIB. Upon his appointment, the organisation's chief executive Jonathan Jenkins said: "We believe there is significant opportunity to raise additional funds alongside those we currently manage, and Geoff is the ideal person to help us expand in this space."

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