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Important update regarding the Bloom Climate Impact Fund

June 8, 2023

 

Dear Customers,

I hope this letter finds you well. I am writing to you today with a heavy heart to share some news regarding the Bloom Climate Impact Fund (Fund). After much careful consideration and evaluation, we have made the decision to stop promoting and distributing the Fund and to initiate steps to wind-up the Fund. The Bloom Impact Investing mobile application will also no longer be accepting investment instructions.

We understand that this news may come as a disappointment to you, as it does to us.

 

 

At Bloom Impact Investing (Bloom), our mission has always been to create positive change and make a meaningful impact on the environment. Despite our best efforts and unwavering commitment, we have faced several challenges that have led us to make this difficult decision.

The market conditions and various external factors have made it difficult for us to attract enough investors who align with our values and investment philosophy. This meant that, ultimately, we have not generated enough revenue to sustain the operational costs necessary to operate in a highly regulated industry.

We tried very hard to find a suitable partner, that could help with promoting and distributing the Fund. We explored several possibilities and engaged in discussions with potential partners, but unfortunately, we were unable to find a partner that shared our vision and commitment to climate impact investing and had the resources to sustain the fund.

We deeply appreciate your support and trust in Bloom Impact Investing thus far. We hope that through your interactions with Bloom via our community events, social media conversations and app content, you now have the conviction that your voice matters and that the way you use your money can make a difference. As the CEO of Bloom, I am incredibly proud to have allowed investors access to climate-impact assets that may previously have been unavailable. Our climate crisis needs a climate revolution, and as the great American cultural anthropologist Margaret Mead once said "Never doubt that a small group of thoughtful committed individuals can change the world. In fact, it's the only thing that ever has."

We want to assure you that Bloom remains dedicated to our broader mission of promoting sustainable investments and making a positive impact on the world. We will continue to explore new opportunities and avenues to drive positive change within the investment landscape with our community. We would like to express our sincerest gratitude for your partnership and support throughout this journey.

We remain committed to serving you and working towards a more sustainable future.

If you require more information on the reasons for terminating the Fund, grounds for termination under the Constitution, the winding-up process and who to contact during this process, please see the Termination and Winding-Up Notice by the Responsible Entity which can be found here: Formal Notice of Termination.

Cache, the manager and administrator of the fund, will assist the Responsible Entity during the winding-up of the Fund. For any questions, please contact the following email address: bloominvestors@cacheinvest.com.au

Warm regards,

Camille Socquet-Clerc,

CEO of Bloom Climate Impact Investing

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