MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $4m to Microfinance Institutions in Armenia, Honduras, Tajikistan

Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently disbursed loans totaling USD 4 million to microfinance institutions (MFIs) in Armenia, Honduras and Tajikistan [1]. The loans were made through the two microfinance funds managed by APM – Dual Return Fund-Vision Microfinance and Dual Return Fund-Vision Microfinance Local Currency, the second of which disburses local-currency loans directly to MFIs. While the names of the investees and the sizes of each investment have not been disclosed, the investee in Honduras is a cooperative that WAS founded in 1986 and provides loans and financial advice to 15,000 women.

As of February 2014, the two Dual Return Funds reported combined assets of USD 197 million under management.

By Tejas Jain, Research Associate

About Dual Return Fund – Vision Microfinance

The Dual Return Fund – Vision Microfinance is a sub-fund of Vision Microfinance, both of which were created in 2006 by Absolute Portfolio Management GmbH, an Austrian investment company with a focus on microfinance in developing countries. As of July 2013, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. The fund reported total assets of USD 147.5 million as of February 25, 2014.

About Dual Return Fund – Vision Microfinance Local Currency

The Dual Return Fund – Vision Microfinance Local Currency is a sub-fund of Vision Microfinance, both of which were created in 2006 by Absolute Portfolio Management GmbH, an Austrian investment company with a focus on microfinance in developing countries. The fund disburses local-currency loans directly to microfinance institutions (MFIs). As of July 2013, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. It reported total assets of USD 49.5 million as of February 25, 2014.

About Absolute Portfolio Management

Absolute Portfolio Management GmbH (APM), a subsidary of the C-QUADRAT Group, is an Austria-based asset management company that offers investment and advisory services in microfinance and other sectors. The firm’s Dual Return – Vision Microfinance and Dual Return Fund – Vision Microfinance Local Currency were created in 2006 and report total assets of USD 197 million under management, as of February 2014.

Sources and Additional Resources:

[1] Information submitted to MicroCapital by Absolute Portfolio Management, March 2014

MicroCapital Story, February 3, 2014, “Absolute Portfolio Management Loans $18m from Dual Return Funds to Microfinance Institutions in Asia, Latin America,”
https://www.microcapital.org/microcapital-brief-absolute-portfolio-management-loans-18m-from-dual-return-funds-to-microfinance-institutions-in-asia-latin-america/

MicroCapital Story, December 10, 2013, “Absolute Portfolio Management’s Dual Return Funds Loan $19m to Microfinance Institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan, Mongolia,”
https://www.microcapital.org/microcapital-brief-absolute-portfolio-managements-dual-return-funds-loan-19m-to-microfinance-institutions-in-armenia-bosnia-and-herzegovina-cambodia-costa-rica-ecuador-georgia-india/

MicroCapital Story, October 8, 2013, “Absolute Portfolio Management (APM) Issues $12.5m in Credits from Dual Return Funds in Microfinance Institutions in Asia, Latin America,”
https://www.microcapital.org/microcapital-brief-absolute-portfolio-management-apm-issues-12-5m-credit-from-dual-return-funds-to-microfinance-institutions-in-asia-and-central-america/

MicroCapital Story, September 14, 2012, “ResponsAbility Loans $5.3m to ProCredit Mexico, COAC Riobamba of Ecuador,”
https://www.microcapital.org/microcapital-brief-responsability-loans-5-3m-to-procredit-mexico-coac-riobamba-of-ecuador/

MicroCapital Universe Profile, Dual Return Fund – Vision Microfinance,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=DUAL+RETURN+VISION+MICROFINANCE+FUND

MicroCapital Universe Profile, Dual Return Fund – Vision Microfinance Local Currency,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Dual+Return+-+Vision+Microfinance+Local+Currency+Fund

MicroCapital Universe Profile, Absolute Portfolio Management,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Absolute+Portfolio+Management

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