This research was published more than 5 years ago, some information may be out of date.

This paper shares discussion on assumptions and definitions that are needed to track benefits to low-income people resulting from impact investment.

From the paper:
"A key objective of the DFID Impact Programme is to track and report the number of poor people who benefit from the impact investments that are made in businesses in Sub-Saharan Africa and South Asia through the DFID Impact Fund, managed by CDC. Understanding numbers reached is only one component of social impact – depth of impact, catalytic change, negative impacts, cannot be ignored. But simply assessing the numbers reached throws up a host of challenges including who counts as poor, who counts as a beneficiary, what definitions and assumptions are to be used. The task has thrown into sharp relief the diversity and lack of clarity on beneficiary reporting across the development and investment arenas."