ISA supports vaccinationApril 2009
An unusual ethical investment vehicle to support vaccination programmes worldwide has been set up by HSBC.
The bank’s new ethical individual savings account (ISA) aims to raise £50million ($73m) from retail investors for immunizing children against five life-threatening diseases. HSBC says every £1000 invested should protect 130 children. The account, started last month, will be available to the retail market until 24 April.
The Vaccine Investment ISA is the first of its kind in Britain and follows recent regulation changes allowing institutions that receive contributions for international humanitarian development projects to issue bonds and other securities held within an ISA.
The new ISA, which is intended to provide a fixed return of 16.2 per cent over five years, has been developed with two non-governmental organizations – the International Finance Facility for Immunization and the Global Alliance for Vaccines and Immunization – plus the World Bank.
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