- Initiative Ireland wins Innovation of the Year at the Irish Pension Awards
- Nominated for 5 awards, including Property Manager, Risk Manager, Passive Manager, ESG & SRI Manager and Innovation of the Year which it won.
- Announces the launch of their new online Advisor Community for broker and financial advisors.
Dublin, Ireland, 20 November 2020, Initiative Ireland wins Innovation of the Year 2020 at this year’s Irish Pension Awards. The company was shortlisted for five categories this year’s awards which recognised companies such as Aviva, KBC, Mercer, Irish Life, Morgan Stanley across twenty three categories. The win follows the launch of their Pension Lending Accounts last year which enable private investors to open Self-Managed Pensions and join Initiative Ireland’s Impact Investor Community. The community is made up of Funds, Irish Businesses, Private Investors and Pension Investors who come together to co-fund the construction of energy-efficient social and affordable housing schemes nationwide.
Padraig W. Rushe, CEO explained, “We’re honoured to be nominated in five categories this year and to have won Innovation of the Year. We established Initiative Ireland to offer honest, fair and secured opportunities to clients. Our Pension Lending Account enable everyday investors to access the Irish Property Market in a more conservative way, committing as little as €25,000 to co-fund property-backed loans. Ultimately, it’s about giving investors more control over the funds, while helping them to earn good by doing good”.
The company also today announced the launch of the new online Advisor Community, aimed at financial advisors. The platform makes it easy for financial advisors to setup new self-managed pensions for their clients or invite existing clients with pensions to setup a Secured Lending Account. It also enables the Advisor to monitor their client’s loans, for increased transparency and ease
Initiative Ireland, which is headquartered at NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin, is supported by Enterprise Ireland as a high-potential start-up.
Padraig W. Rushe, CEO, Initiative Ireland said, “Domestic demand for housing in Ireland exceeds 35,000 new homes each year, Ireland is grappling with a housing shortage crisis following a decade of under supply of social, affordable and mid-market housing. The country experienced a 48% supply shortfall last year based on supply volume and we expect supply this year will not exceed last year.
He added “The true housing shortfall is understated, due to a mismatch in the affordability of supply, with many Irish families locked-out of the market due to a lack of new affordable housing stock. Dublin rents have increased 200% since 2011, due to a lack of new supply of rental accommodation and affordable housing alternatives.”
“At Initiative Ireland, we are supporting smaller developments, providing a good return for our clients while also helping to deliver much needed social impact. At a time when many investments have suffered from significant volatility, our projects have been able to remain active and benefited from significant collateral cover to protect our community. It is great for that work to be recognised on an industry level.”