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Homeless housing funds spark ethical debate over ESG profits

December 15, 2020, Financial Times

John Ahern spoke with the Financial Times about an investment fund that is profiting off the rents from social housing programs in the UK paid by taxpayers. The fund claimed to be a cheaper option than alternatives, such as hotels and bed and breakfasts. Mr. Ahern says, “It’s the lesser of two evils.” More high-quality homeless accommodation is good, even if investors are benefiting from a social issue, he adds. “As a private sector asset manager, you’re not doing this for the goodness of your health. There needs to be return or you can’t encourage investors to invest.”  

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