The Impact Healthcare Reit has changed its name to Care Reit following the SDR regulation banning investment companies from using the word “impact” in its title without the adoption of certain regulation.
The company will also adopt a new ticker CRT, effective immediately (21 October). There will be no change to shares or investment strategy for the Reit, which will continue to focus on UK healthcare real estate.
See also: Jupiter Ecology fund to take on ‘sustainability focus’ SDR label
Care Reit first announced the name change in its August half-year results, stating: “The new regulations will restrict the use of certain sustainable terms in products available to retail investors from December 2024. The word “Impact” is specifically proscribed unless the primary aim of the business is social impact, as measured by a high threshold of reporting requirements”.
SDR’s ‘naming and marketing rules’ go into effect for most companies on 2 December, with the FCA granting some flexibility until April 2025 under “exceptional circumstances”. The available titles include Sustainability Focus, Improvers, Impact or Mixed Goals, with the goal of presenting a clearer picture to investors on how and to what extent funds are focusing on sustainability. The policy has received a mixed response from fund managers, with some struggling to maintain the fund philosophy while gaining approval for a label.
