The Real Picture's aim is to get young homeless people into work by offering them the opportunities they need to turn their lives around.
It will also provide a medium for homeless people to express themselves and help improve communications between young homeless people and staff in hostels and day centres.
The magazine is funded through private sponsorship and advertising by The Big Issue, youth charity Rainer and local community groups.
Vincent Popely, publisher of The Real Picture, said: "The fact that such a huge organisation such as Publicis Groupe quite blatantly shows it is keen on offering young homeless people opportunities in an area of work that is hard to get into, is essential in starting to change some of the opinions out there held by young homeless people.
"They believe no one cares about them; we hope to address the balance."
The 24-page magazine has an initial print run of 2,300 and an estimated readership of 6,000 and is distributed through hostels and day centres.
Five young homeless people make up the creative team behind the title. In addition, 16- to 25-year-old volunteers who apply through hostels and day centres are mentored by the professionals at Publicis Blueprint in the skills that interest them, whether it be editorial, design, sub-editing or publishing.
The two previous test issues of the title were published with money donated from charities Save the Children and De Paul Trust.
Publicis Blueprint, currently Marketing's Publishing Agency of the Year, produces customer magazines for clients including Asda, Homebase, Nestle, Toni & Guy and Renault among others.
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