The app will offer funds to retail investors charging “amongst the lowest possible rate in the market while investing in businesses that have a positive impact on society and the planet”, according to UBP – one of the founding members.
The Big Exchange will charge a £0.25 fee for every £100 ($127, €113) invested, excluding management fees, to access the funds.
Other backers include: Aberdeen Standard Investments, Alquity, AllianceBernstein, Columbia Threadneedle, Pictet, Quilter, Stewart Investors, Civitas Social Housing, Tortoise, WHEB and Liontrust.
The Big Issue offers employment opportunities to people in poverty.
Describing its goal as “a hand up, not a hand out”, the magazine was launched in 1991 in response to the growing number of rough sleepers on the street of London.
It offered them a change to earn a legitimate income through selling a magazine to the public, where vendors buy a magazine for £1.25 and sell it for £2.50.
It is now published across four continents.
ESG in the spotlight
UBP’s Positive Impact Equity Fund will be available to investors through the mobile service when it is rolled out, and additional sustainable funds will be added in due course, the private bank said.
“We are excited to be part of this cross-industry partnership, which provides an opportunity to enable all investors to build a better society,” said Jean-Luc Eyssautier, head of UK sales and marketing at UBP.
“An engaged and informed retail investment community is key to the success of impact investing.
“Together with the other founding members, we are aiming to provide retail investors with an accessible, modern and clear platform, which empowers them to make choices which align their financial goals with their views on the planet and society.”