Let's rethink growth

Why

Why do we exist?

We believe that people should not have to choose between investing for their own financial future and the future of people and the planet. And we recognise that all investments create impact - positive and negative. So, we exist to prove that it is possible to invest money positively whilst making a sound financial return and to ensure all investors – no matter how much money they have - can invest in this way.

It is estimated that an additional investment of $2.5 trillion per annum is required to solve the current social and environmental problems defined under the UN’s Sustainable Development Goals. Government spending alone cannot close this gap so businesses and financial markets must step up to the challenge. Snowball was created to increase the amount of capital diverted towards achieving these goals.

What

What is Snowball?

Snowball is a diversified, multi-asset investment vehicle that aims to create positive outcomes for people and planet whilst generating sound financial returns.

We invest in a range of public and private funds that support a variety of social and environmental outcomes across the UN’s Sustainable Development Goals. We currently have deployed our funds invested in public and private market investments and we target a risk-adjusted annual return of 5-6% above inflation, net of all fees, over the long term.

We have a four year track record investing with this strategy.

The New Normal

Impact

What’s our approach to impact?

The financial industry is directly linked to the impact of its investments on people and planet. So, we select our investments opportunities with care and scrutiny. Impact is integrated across our investment process and at an early stage, pipeline investments are screened against our impact framework, which also provides the basis for measuring impact. The framework considers impact from two perspectives.

  • 1. The potential impact of the investments that our managers hold
  • 2. How our managers work with their investments to improve their impact

This twofold approach enables us to monitor and compare managers across companies and asset classes.

Over time, Snowball aims to increase the impact intensity of our investments both by using active portfolio decision-making, and by engaging with management. Our framework rates more highly investments that are intentional, measurable and additional. However, as this is easier across some asset classes than others, it needs to be balanced with our diversification strategy.

Defining and measuring impact is relatively new and as part of our mission we are always keen to share our knowledge and work with others to improve our own.

Invest Positive

Investment

How do we approach investment?

We have designed the portfolio to make impact investing as easy as possible and remove the barriers associated with impact investing –illiquidity, complexity and administration.

We aim to achieve an optimal balance of impact, risk and return for investors. We invest in a portfolio of highly impactful public and private market funds across asset classes and impact themes. The objective is to create a portfolio that can provide an annualised return of 5-6% net of fees over the long-term with relatively low volatility in annual returns and a relatively low correlation to mainstream equity and bond markets.

We are long-term investors which means that we invest in asset classes such as private equity where returns are generated over a longer time frame (typically seven years). Our strategy is to invest cash in public market funds and to draw this down into private market investments over time.

For more detailed information on our investment strategy please get in touch.

Disruption

How do we plan to disrupt the current status quo?

Incentives: we see investment as a service industry and our cost structure reflects this. Snowball only charges investors the operating costs of the fund – which means that as the fund grows, the overall charge is reduced. No performance fees, no manager bonuses – a simple and straightforward service fee.

Intentionality: every investment we make has a specific purpose beyond generating a financial return.

Transparency: we aim to be completely open and transparent with our investees and investors – from what is in our portfolio to reporting on the intended versus actual impact of our investments.

Accessibility: we want to break down the “invisible wall” between the investment industry and retail investors by being as clear and succinct as possible in our communications and how we talk about our investments.

Let's Rethink Growth

Team

Snowball has a small, highly dedicated team with a wealth of experience from leading commercial businesses to non-profits and from impact measurement to investment.

Daniela Barone Soares

CEO

Daniela is excited about systemic solutions for a healthy, prosperous and peaceful future in this planet. She has over 15 years’ experience as a CEO and Board member at the intersection of the commercial and impact worlds, starting her career in private equity and venture capital investing and then spending nine years at the helm of Impetus. Daniela serves as non-executive director on the business responsibility committee of IHG Plc. She is a Trustee of the Institute for the Future of Work and a Senior Advisor for the Forward Institute.

She was selected by the Financial Times and Inclusive Boards as one of the top 100 women in engineering (2019) for her work as NED at Halma Plc, by Brazil’s Istoé Dinheiro magazine as one of "20 People who are Changing Brazil and the World for the Better" (2017) and by the Independent on Sunday as one of 100 people who make Britain a better place (“Happy List” 2008). She holds a MBA from Harvard Business School and a BSc in Economics from Unicamp.

Peter Baxter

CIO

Peter joined Snowball because he believes that the social and environmental problems faced by current and future generations are too big to be solved by governments and philanthropy, and that asset owners and managers must get fully involved. Peter was previously CEO and CIO at Old Mutual Asset Managers UK and has over 30 years’ experience in asset management. Peter is a trustee and chair of the Social Enterprise Committee at Trust for London, a charitable foundation tackling poverty and inequality in London, and is Senior Independent Director at Civitas Social Housing plc.

Abigail Rotheroe

Investment Director

Abigail joined Snowball to make impact investing possible for all savers. Before joining Snowball, Abi had an extensive career working across a range of organisations from investment banks to non-profits including over 15 years’ experience in investment management. Just before joining Snowball she worked for New Philanthropy Capital as Head of Social Investment. Whilst at Snowball Abigail co authored The Investor's Perspective - an account of Snowball's approach to impact measurement and management. Abi is passionate about improving equality and diversity and has worked with The Young Foundation, Woman's Trust and the Fawcett Society.

Jake Levy

Investment Analyst

Jake joined Snowball as he believes in a responsible and fair financial system which works for society and the environment. Having previously worked as a solicitor, Jake transitioned into impact investing through the On Purpose leadership programme, working at Big Society Capital and then in the impact investing team at Guy’s and St Thomas’ Charity. Alongside his work, Jake has also serves as a Trustee at the Creative Mentor Network and has recently completed a term as a school governor at the London Enterprise Academy.

Henry Bacon

Head of Finance & Operations

Henry was drawn to Snowball because of its ambitious mission to transform investment management. His career started in corporate banking working at Santander, CaixaBank and latterly MUFG as a senior member of the credit team. In 2017 Henry took part in the On-Purpose leadership programme to make the move into impact investing, which is where his path crossed with Snowball's. Henry is passionate about solving inequality and is a regular volunteer. He is a mentor and adviser to the CEO of The Avenues, a youth charity in a deprived area of North Westminster.

Laura Boyle

Head of Stakeholder Engagement

Laura joined because we can all create positive impact through the spending, saving and investing choices we make. As head of marketing for the world’s largest law firm serving successful individuals Withersworldwide, she saw clients go beyond philanthropy, moving instead to reduce the dissonance between their main work and their values. She believes the new impact economy must be created inclusively, and develops solutions for implicit bias as Founder of Square Circle. She is a NatWest Top 100 Women in Social Enterprise (2020), and is part of Catalyst 2030, which connects private capital with systems change solutions.

Andrew Page

Andrew Page

Senior Adviser

Andrew is keen to support the Snowball mission to transform investment management and make impact investing central to the investment decisions of a broad spectrum of investors. His career has predominantly been in financial services performing a variety of roles for the Bank of New York Mellon, Sun Life Financial of Canada, Royal Bank of Scotland, Old Mutual and Lloyds Bank. Andrew has recent trustee and depositary experience through the oversight of large investment managers with a variety of fund types.

Daniela Barone Soares

CEO

Daniela is excited about systemic solutions for a healthy, prosperous and peaceful future in this planet. She has over 15 years’ experience as a CEO and Board member at the intersection of the commercial and impact worlds, starting her career in private equity and venture capital investing and then spending nine years at the helm of Impetus. Daniela serves as non-executive director on the business responsibility committee of IHG Plc. She is a Trustee of the Institute for the Future of Work and a Senior Advisor for the Forward Institute.

She was selected by the Financial Times and Inclusive Boards as one of the top 100 women in engineering (2019) for her work as NED at Halma Plc, by Brazil’s Istoé Dinheiro magazine as one of "20 People who are Changing Brazil and the World for the Better" (2017) and by the Independent on Sunday as one of 100 people who make Britain a better place (“Happy List” 2008). She holds a MBA from Harvard Business School and a BSc in Economics from Unicamp.

Peter Baxter

CIO

Peter joined Snowball because he believes that the social and environmental problems faced by current and future generations are too big to be solved by governments and philanthropy, and that asset owners and managers must get fully involved. Peter was previously CEO and CIO at Old Mutual Asset Managers UK and has over 30 years’ experience in asset management. Peter is a trustee and chair of the Social Enterprise Committee at Trust for London, a charitable foundation tackling poverty and inequality in London, and is Senior Independent Director at Civitas Social Housing plc.

Abigail Rotheroe

Investment Director

Abigail joined Snowball to make impact investing possible for all savers. Before joining Snowball, Abi had an extensive career working across a range of organisations from investment banks to non-profits including over 15 years’ experience in investment management. Just before joining Snowball she worked for New Philanthropy Capital as Head of Social Investment. Whilst at Snowball Abigail co authored The Investor's Perspective - an account of Snowball's approach to impact measurement and management. Abi is passionate about improving equality and diversity and has worked with The Young Foundation, Woman's Trust and the Fawcett Society.

Jake Levy

Investment Analyst

Jake joined Snowball as he believes in a responsible and fair financial system which works for society and the environment. Having previously worked as a solicitor, Jake transitioned into impact investing through the On Purpose leadership programme, working at Big Society Capital and then in the impact investing team at Guy’s and St Thomas’ Charity. Alongside his work, Jake has also serves as a Trustee at the Creative Mentor Network and has recently completed a term as a school governor at the London Enterprise Academy.

Henry Bacon

Head of Finance & Operations

Henry was drawn to Snowball because of its ambitious mission to transform investment management. His career started in corporate banking working at Santander, CaixaBank and latterly MUFG as a senior member of the credit team. In 2017 Henry took part in the On-Purpose leadership programme to make the move into impact investing, which is where his path crossed with Snowball's. Henry is passionate about solving inequality and is a regular volunteer. He is a mentor and adviser to the CEO of The Avenues, a youth charity in a deprived area of North Westminster.

Laura Boyle

Head of Stakeholder Engagement

Laura joined because we can all create positive impact through the spending, saving and investing choices we make. As head of marketing for the world’s largest law firm serving successful individuals Withersworldwide, she saw clients go beyond philanthropy, moving instead to reduce the dissonance between their main work and their values. She believes the new impact economy must be created inclusively, and develops solutions for implicit bias as Founder of Square Circle. She is a NatWest Top 100 Women in Social Enterprise (2020), and is part of Catalyst 2030, which connects private capital with systems change solutions.

Andrew Page

Andrew Page

Senior Adviser

Andrew is keen to support the Snowball mission to transform investment management and make impact investing central to the investment decisions of a broad spectrum of investors. His career has predominantly been in financial services performing a variety of roles for the Bank of New York Mellon, Sun Life Financial of Canada, Royal Bank of Scotland, Old Mutual and Lloyds Bank. Andrew has recent trustee and depositary experience through the oversight of large investment managers with a variety of fund types.

Board

Founding investors

Snowball was founded in December 2016 by James Perry, Alexander Hoare and Paul Blyth together with a group of mission aligned investors, including Panahpur, The Golden Bottle Trust, C. Hoare & Co, Skagen Conscience Capital, Sophie and Nick Marple of Gower Street and The Taylor Family Foundation.

You can view our Board below.

Alexander Hoare

C. Hoare & Co Bank

Alexander is a Founder Partner and Chair of Snowball. Snowball manages the impact assets of The Golden Bottle Trust (GBT), the philanthropy arm of C. Hoare & Co Bank. GBT was established in 1985 and invests up to 25% of its assets in impact. Alexander was Chief Executive of C. Hoare & Co. from 2001 until 2009. Prior to this he worked as a Marketing Consultant for PA Consulting Group until 1987. He is a Patron of Royal Trinity Hospice, former President of the Groupement Européen de Banques and member of the Westminster Abbey Finance and Advisory Council. In 2017 he won the City Philanthropy Beacon Award.

James Perry

COOK, Panahpur, B Lab UK

James is a Founding Partner of Snowball and CEO of Panahpur, a UK charitable foundation with a total approach to impact. James is also a co-founder and Director of COOK, one of the UK’s first B Corporations and a Living Wage employer. James co-founded B Lab UK in 2015 and has been a member of B Lab’s Global Governance Council since 2014. James was also a Founding Trustee for the Access Foundation, established by the Cabinet Office and Big Lottery Fund to overcome barriers to charities and social enterprises in accessing repayable finance.

Colin Baines

Friends Provident Foundation, Possible, Stop Funding Hate

Colin is Partner representative for Friends Provident Foundation (FPF). Colin has over 15 years’ experience working in responsible investment and ESG, currently as FPF’s Investment Engagement Manager. Previously he was responsible for the Co-op Bank's Ethical Policy, Co-op Asset Management's Ethical Engagement Policy, and Co-op Group's Social Goals campaigns. In 2010, the FT and IFC cited his work in awarding the Co-op ‘Global Sustainable Bank of Year’. Colin is a Director of the Church Investors Group, Vice-Chair of the climate charity Possible, and serves on the Advisory Boards of London School of Economics, Grantham Institute and the University of Manchester's Tyndall Centre. You can read more about his work to combat impact washing here.

Patricia Lewis

Harvard University Advanced Leadership Programme

Patricia has over 20 years of global investment banking experience working in both the US and UK. She recently chose to leave her role as Managing Director and Head of European Loans and Special Situations Sales at Bank of America Merrill Lynch to join the movement to make impact investing mainstream, and is currently a Harvard University Advanced Leadership Initiative Fellow. In 2020, in the midst of the Covid-19 pandemic, Patricia co-founded the, Harvard ALI Social Impact Review, to lead thinking in social impact and to catalyse positive change in addressing the world's significant social challenges. Patricia is also passionate about mentoring emerging professionals both inside and outside of the work and for seven years served as a mentor to women entrepreneurs in low-to-middle income countries via the Cherie Blair Foundation for Women.

Kelly Clark

The Laudes Foundation, Good Fashion Fund

Kelly is the Director of the Finance & Capital Market Transformation programme at The Laudes Foundation. Prior to this she was the Founder/Director of the Finance Dialogue, a think tank leveraging institutional investors to accelerate the net zero carbon transition. In this capacity she has worked with investors, asset owners, central bankers, regulators, policymakers, NGOs and philanthropists to design and deliver strategies that leverage the role of capital markets in addressing climate change. She founded Marmanie Consulting Ltd., one of the first dedicated impact investment advisory firms in London. Previously, Kelly spent 10 years as a banker in the US, London and Hong Kong, culminating in her role as the Head of South East Asian Private Banking for UBS out of Hong Kong. Kelly is Chair of the Investor Board, Good Fashion Fund.

Jack Goldstein

Skagen Conscience Capital

Jack leads impact investment at Skagen Conscience Capital, a single family office. Prior to his current role, Jack was a Manager at Social Finance, one of the UK’s first social investment firms, where he worked on managing portfolios of social enterprise investments, raising capital for social enterprises, and designing and launching social impact bonds. Jack began his career in management consulting within Ernst & Young’s strategy practice, including time spent in the global social enterprise advisory team where he advised large-scale social enterprises in low- and middle-income countries on strategy and operations.

Alexander Hoare

C. Hoare & Co Bank

Alexander is a Founder Partner and Chair of Snowball. Snowball manages the impact assets of The Golden Bottle Trust (GBT), the philanthropy arm of C. Hoare & Co Bank. GBT was established in 1985 and invests up to 25% of its assets in impact. Alexander was Chief Executive of C. Hoare & Co. from 2001 until 2009. Prior to this he worked as a Marketing Consultant for PA Consulting Group until 1987. He is a Patron of Royal Trinity Hospice, former President of the Groupement Européen de Banques and member of the Westminster Abbey Finance and Advisory Council. In 2017 he won the City Philanthropy Beacon Award.

James Perry

COOK, Panahpur, B Lab UK

James is a Founding Partner of Snowball and CEO of Panahpur, a UK charitable foundation with a total approach to impact. James is also a co-founder and Director of COOK, one of the UK’s first B Corporations and a Living Wage employer. James co-founded B Lab UK in 2015 and has been a member of B Lab’s Global Governance Council since 2014. James was also a Founding Trustee for the Access Foundation, established by the Cabinet Office and Big Lottery Fund to overcome barriers to charities and social enterprises in accessing repayable finance.

Colin Baines

Friends Provident Foundation, Possible, Stop Funding Hate

Colin is Partner representative for Friends Provident Foundation (FPF). Colin has over 15 years’ experience working in responsible investment and ESG, currently as FPF’s Investment Engagement Manager. Previously he was responsible for the Co-op Bank's Ethical Policy, Co-op Asset Management's Ethical Engagement Policy, and Co-op Group's Social Goals campaigns. In 2010, the FT and IFC cited his work in awarding the Co-op ‘Global Sustainable Bank of Year’. Colin is a Director of the Church Investors Group, Vice-Chair of the climate charity Possible, and serves on the Advisory Boards of London School of Economics, Grantham Institute and the University of Manchester's Tyndall Centre. You can read more about his work to combat impact washing here.

Patricia Lewis

Harvard University Advanced Leadership Programme

Patricia has over 20 years of global investment banking experience working in both the US and UK. She recently chose to leave her role as Managing Director and Head of European Loans and Special Situations Sales at Bank of America Merrill Lynch to join the movement to make impact investing mainstream, and is currently a Harvard University Advanced Leadership Initiative Fellow. In 2020, in the midst of the Covid-19 pandemic, Patricia co-founded the, Harvard ALI Social Impact Review, to lead thinking in social impact and to catalyse positive change in addressing the world's significant social challenges. Patricia is also passionate about mentoring emerging professionals both inside and outside of the work and for seven years served as a mentor to women entrepreneurs in low-to-middle income countries via the Cherie Blair Foundation for Women.

Kelly Clark

The Laudes Foundation, Good Fashion Fund

Kelly is the Director of the Finance & Capital Market Transformation programme at The Laudes Foundation. Prior to this she was the Founder/Director of the Finance Dialogue, a think tank leveraging institutional investors to accelerate the net zero carbon transition. In this capacity she has worked with investors, asset owners, central bankers, regulators, policymakers, NGOs and philanthropists to design and deliver strategies that leverage the role of capital markets in addressing climate change. She founded Marmanie Consulting Ltd., one of the first dedicated impact investment advisory firms in London. Previously, Kelly spent 10 years as a banker in the US, London and Hong Kong, culminating in her role as the Head of South East Asian Private Banking for UBS out of Hong Kong. Kelly is Chair of the Investor Board, Good Fashion Fund.

Jack Goldstein

Skagen Conscience Capital

Jack leads impact investment at Skagen Conscience Capital, a single family office. Prior to his current role, Jack was a Manager at Social Finance, one of the UK’s first social investment firms, where he worked on managing portfolios of social enterprise investments, raising capital for social enterprises, and designing and launching social impact bonds. Jack began his career in management consulting within Ernst & Young’s strategy practice, including time spent in the global social enterprise advisory team where he advised large-scale social enterprises in low- and middle-income countries on strategy and operations.

Supporters

Reports

Our approach to impact management

We integrate impact across our investment process, and we measure the impact of our managers, and of our underlying portfolio holdings.

Manager impact. We invest in fund managers dedicated to achieving impact. These managers are acting on our behalf – and yours – and are creating a shift in the way the investment industry acts. In our new report, we share our analysis of responses to a survey we sent to our managers and you can see more of how our framework operates.

VIEW REPORT

Enterprise impact.
We worked on this report with The Impact Management Project who work to build global consensus on how to measure and manage impact. In the report we analysed the impact of the ventures and enterprises that our managers are invested in. You can view that report below.

VIEW REPORT


Contact

If you would like to discuss how you can help us create change in the financial industry, or would like to invest, please get in touch here.

Snowball Impact Management Limited is an Appointed Representative of The Fund Incubator Limited which is authorised and regulated by the Financial Conduct Authority (FRN208716). Snowball’s funds and services are suitable only for Professional Investors. Please click on the Privacy Policy in our footer to find more information and our disclaimers.

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