The Pension Boards has invested $3.5 million in Fannie Mae’s $315 million Multifamily Social Bond (FNA 2021-M1S), under Fannie Mae’s Guaranteed Multifamily Structures program. The Pension Boards Sustainable Balanced Fund’s inaugural fixed-income investment is a multi-family social bond issued by Fannie Mae, which supports affordable housing initiatives in the U.S.

The Pension Boards’ investment in FNA 2021-M1S demonstrates its ongoing commitment to making investments, on our members behalf, that adhere to Environmental, Social, and Governance (ESG) criteria, and though this investment, it is helping to drive positive economic outcomes through mortgage finance. With the addition of this bond, the Pension Boards sustainable bond investment portfolio is now greater than $325 million.

Proceeds of FNA 2021-M1S social bond investment will finance the acquisition or refinance affordable housing property for low-income renters or borrowers.

Fannie Mae, a leading source of mortgage financing, helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America.