Yielding a Difference - The Variant Impact Fund (IMPCX) Publishes Annual Impact Report
PORTLAND, Ore., Oct. 3, 2023 /PRNewswire/ -- Variant Investments, LLC (Variant), an alternative credit specialist and interval fund manager, today announced the release of its 2023 Annual Impact Report. To request a copy of the Impact report, please follow the link here.
The report celebrates the positive effect that investors' capital made to improve lives and protect the planet. With assets increasing more than five-fold over the past fiscal year, the Fund was able to greatly expand its reach and magnify its impact globally.
The Fund deployed capital across 24 distinct investment strategies in more than 16 countries spanning the Americas, Africa, Asia and Europe. The investments covered eight impact themes, led by Financial Inclusion, Affordable Quality Housing, Access to Quality Education and Clean Energy1.
"Our theory of change is centered on making the money matter," said Bob Elsasser, Variant co-founder and chair of the firm's impact investing committee. "To us, that means avoiding more crowded markets and focusing on underfinanced opportunities where we believe investor dollars can make an outsized difference."
The Variant Impact fund provides capital to attractive opportunities in niche, underfinanced markets that contribute to the United Nations Sustainable Development Goals (UN SDGs).
"The Impact Fund balances a strong intentionality to contribute to measurable, targeted solutions while generating market rates of return" said JB Hayes, Variant Co-Founder. Since the fund's inception on November 1st, 2021, it has delivered a net annualized return of 11.80%, with a net 1-year return of 12.05%2 as of August 31st, 2023.
Past performance is not indicative of future results.
The firm's 2023 Impact Report measures the impact performance of the underlying investments, highlighting metrics such as the number of housing units created, loans disbursed, students financed, and acres of sustainable farmland managed. Beyond the numbers, the report also tells the stories of some of the lives and communities touched around the globe.
With respect to diversity, equity and inclusion (DEI), Variant estimates that more than 40% of the Fund's portfolio was invested in counterparties that are majority-owned by underrepresented groups3.
The Fund is a closed-end interval fund in the private credit space that offers investors efficient access to a diversified portfolio of unconventional income-generating assets aligned with the United Nations Sustainable Development Goals (UN SDGs). The Fund invests in niche market opportunities with strong cash flow characteristics and low correlations to public equity and bond markets.
The Fund intends to invest in a wide range of opportunities across three core impact objectives of financial inclusion, equitable growth, and responsible consumption. For more information on the Variant Impact Fund and its performance, please visit the Variant website or see the most recent factsheet here.
About Variant Investments:
Established in 2017, Variant Investments is an employee-controlled SEC-registered alternative credit manager. Variant's strategies are focused on uncorrelated income-generating private investments in niche markets and offered to investors through institutional closed-end interval funds. Variant Investments is a Signatory of PRI|Principles for Responsible Investment and a member of the Global Impact Investing Network. For more information, visit www.variantinvestments.com.
Variant contacts:
For further questions, please contact the Variant investor relations team at [email protected]
An investment in the Fund is speculative, involves substantial risks. The Variant Impact Fund are continuously offered, non-diversified, registered closed-end fund with limited liquidity. There is no guarantee the Funds will achieve their objectives. An investment in the Funds should only be made by investors who understand the risks involved, who are able to withstand the loss of the entire amount invested and who can bear the risks associated with the limited liquidity of Shares. A prospective investor must meet the definition of "accredited investor" under Regulation D under the Securities Act of 1933.
Shares are an illiquid investment. You should generally not expect to be able to sell your Shares (other than through the repurchase process), regardless of how the Funds perform. Although the Funds are required to implement a Share repurchase program only a limited number of Shares will be eligible for repurchase by the Funds.
Before investing you should carefully consider the Fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from (877) 770-7717 or www.variantinvestments.com. Please read the prospectus carefully before you invest.
Foreside Fund Services, LLC, distributor.
1 The Fund uses IRIS+ for its impact theme taxonomy. IRIS+ is the generally accepted system for measuring, managing, and optimizing impact, supported by leading impact investors and housed within the Global Impact Investing Network ("the GIIN"). Variant Investments has been a member of the GIIN since 2021.
2 Inception date is November 1, 2021. Returns are net total returns through August 31, 2023. The track record uses geometric returns and reflects the reinvestment of earnings. Results audited through April 30, 2023.
3 Variant has chosen a definition of diversity that focuses on Underrepresented Groups that include females, disabled persons, veterans, LGBTQ+, Black/African, Hispanic/Latinx, Asian/Pacific Islander, Middle Eastern, Indigenous, and multi-racial persons.
SOURCE Variant Investments, LLC
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