There’s no doubt that 2020 has thrown some strange curveballs. But this week one particular news story almost took the biscuit. It was confirmed on Tuesday that Hollywood stars, Ryan Reynolds and Rob McElhenney, completed what is the childhood dream of many, the purchase of a professional sports team. However, given the level of expendable cash for both actors, it came as a bit of a surprise that the acquired club is in the fifth(!) tier of English football, Wrexham AFC. News of the takeover has made international headlines, with confirmation already of a documentary film that will follow their exploits. Through an online video, Reynolds and McElhenney told supporters that they plan to inject £2m of non-redeemable shares into the club. Having promised to make Wrexham a ‘global force’ there may be a slight reality check needed for ‘the Dragons’ who are currently fourteenth in the National League and just one point above the relegation zone!

The Weekly was pleased to see impact investing on the agenda at React News’s residential webinar on Tuesday afternoon. The panel focused on the increasing importance of social value when delivering new homes, precisely in line with the strategy for St Bride’s Managers’ White Rose Residential LP. The consensus of the panel was that all-important financial target returns can now be achieved whilst still addressing societal issues through qualitative measurements, using tools such as Social Value Calculator and The Good Economy. An excellent example of this came from Kevin Etchells, Senior Investment Manager at Greater Manchester Pension Fund, who has successfully taken this twin return approach. Given the low interest rate environment and more sustainable income returns, he contends that generating attractive financial and impact returns from residential looks increasingly achievable. And The Weekly agrees with him. The success of sheds and beds was recently reflected by MSCI, who reported that total returns for Residential in Q3 2020 (1.2%) were second only to Industrials (2.1%). So, if there was ever a time to take this issue seriously... it's now!

Sticking to the theme of alternatives, this week saw an unofficial world record set as a Belgian racing pigeon, ‘New Kim’, was sold to a mystery Chinese buyer for an eye-watering £1.4m. The investor, bidding under the pseudonym ‘Super Dunc’ is said to be the same wealthy Chinese industrialist who already owns male pigeon Armando – dubbed the Lewis Hamilton of the sport. Hamilton, of course, won his seventh world title last Sunday with victory in the Turkish Grand Prix equalling Michael Schumacher’s championships record. Despite Hamilton’s achievement, snooker player Ronnie O’Sullivan couldn’t help wading into the debate this week suggesting that Hamilton’s victories were mainly aided by his Mercedes car being superior to all others on the track. O’Sullivan suggested ‘it’s a bit like driving around smoking a cigar with one finger on the wheel.’ The Weekly does not claim to be fanatically interested in Formula 1, or even pigeon racing for that matter, but perhaps our curiosity could be sparked by a cigar smoking competition!