We focus on the creation of communities by delivering new, good quality and well located family homes to rent – a sector neglected within the burgeoning build to rent market, but families with dependent children currently account for 38%* of the rental market. Our heritage stems from regeneration and Sigma has delivered in excess of 4500 homes across all tenures in its partnerships with local authority and investment partners. Not limited to housing our regeneration activities have also delivered community facilities and 8 schools. Delivering a secure, asset backed income stream which provides both scale and value for our investors is only possible by the unique partnerships we forge with institutional funding, house builders and local authorities. New housing developments deliver strong social-economic benefits and remains at the forefront of political and social agendas within Government. Delivering these programmes with scale and within a maintained cost structure protects investment returns and answers the needs of both local council and housebuilding partners as well providing high quality environments for families to live. 2016 saw a major new funding agreement with Homes England (formerly HCA) which marks an important milestone for the Group and has materially increased the rate at which we can deliver self-funded PRS homes. This complements funding streams already in place from Gatehouse Bank, UK PRS Properties’ Fund and Sigma’s own Equity. Sigma continues to make strong progress in this sector with the announcement of further housebuilding partners, additional funding and a strong pipeline of development land which has the potential to deliver in excess of 20,000 new rental homes throughout our key regions in the UK. 2017 saw the fulfilment of our strategy with the successful and widely acclaimed IPO of The PRS REIT plc on the London Stock Exchange raising an initial £250 million of investment, a long term holding vehicle for the homes delivered and managed by the Sigma Capital platform. This was followed less than 9 months later by a hugely successful offer for placing which raised a further £250m to continue to grow the PRS REIT .