Aspire Social Impact Bond

The Aspire SIB offered investors the opportunity to generate a competitive financial return while making a lasting difference to the lives of people experiencing homelessness in Adelaide.

The bond funded the Aspire Program, which was delivered by Hutt St Centre, an Adelaide based homelessness services specialist, in partnership with public and community housing providers.

Over the term of the Aspire SIB funding arrangement, Aspire supported 575 people experiencing chronic homelessness in metropolitan Adelaide. Each person was offered support for up to three years.

81% of participants were housed, with 85% maintaining their tenancies. Critically, participants experienced a significant reduction in the rates at which they accessed hospital, justice and emergency accommodation services, in comparison to the baselines against which program results were measured – by 29%, 33% and 73% respectively.

The social impact bond financing arrangement ceased funding Aspire Program services at the end of June 2024. Hutt St Centre continues to deliver the Aspire Program under a grant-funding arrangement with the South Australian Government.

The outcomes, stories and reflections from the Aspire SIB are detailed in the investor reports below.

Watch this video for an illustration of how the Aspire Social Impact Bond aimed to end homelessness for those it supported (00.04.21)

Download an overview on the Aspire SIB

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The Aspire SIB structure

Key features

Investor returns were determined by Government payments to the Aspire SIB Trust, which were based on savings generated.
Outcomes were determined by measuring health, justice and homelessness service utilisation relative to historical baseline.
7.75-year bond term.
2% p.a. fixed coupon over 4.75 years, then performance coupon based on level of Trust assets.
Delivered a financial return to investors of 14.1% p.a. (above the target scenario estimated return 8.5% p.a.).