Questions have been asked about whether a £10m investment by Wirral Council was “good use of council money.”
The issue was raised during a discussion of Wirral Council’s investment in a social impact fund with Altana Wealth Management and Warrington Council. This investment was made in February 2020 contributing £10m to a total £46m in the fund.
According to a Wirral Council report presented to the audit and risk management committee, “the fund aimed to invest in projects with UK businesses to improve the lives of UK residents. Investment would be considered in areas such as social housing, renewables, forestry, local lending vehicles and any other investments that are deemed to have a high social impact.”
