Retrenching banks.

Retrenching banks.

The 2007-8 financial crisis and Basel 3 have combined to severely reduce global credit. A short term focus has disrupted many financial markets and many economies. The model is changing as the capital provided by banks is diminishing as banks retrench.

Making space for others to lend

We believe long term institutional investors can step up, providing long term competitively priced capital based on long term risk assessment and long term economic needs. We can see this happening in infrastructure, especially in the housing sector. We’ve committed to play an increasing role in these new businesses.

Reduction in homes built in the UK


homes built in 1968


homes built in 2012

Shelter said: “We need to build at least the 250,000 homes per year in England needed to meet the growing number of households. Building these homes will reduce the pressure caused by the growing housing shortage and so help stabilise prices.”


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