MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $9m from Dual Return Funds to Microfinance Institutions (MFIs) in Armenia, Benin, Cambodia, Georgia, Mongolia, Paraguay, Peru and Tajikistan

Absolute Portfolio Management (APM), an Austria-based microfinance investment and asset management company, recently told MicroCapital that it issued the equivalent of USD 9 million during March 2013 through two of the funds it manages to microfinance institutions (MFIs) in Armenia, Benin, Cambodia, Georgia, Mongolia, Paraguay, Peru and Tajikistan. Of this amount, the equivalent of USD 2 million was issued in local-currency. An undisclosed portion of these funds were used to issue a two-year renewal to an undisclosed MFI in Benin that focuses on women.

The microfinance funds that APM manages are Dual Return Fund – Vision Microfinance  and Dual Return Fund  – Vision Microfinance Local Currency. As of October 2012, Dual Return Fund  – Vision Microfinance reported loans outstanding to 62 microfinance institutions (MFIs) in 22 emerging markets. Its total assets were USD 95.8 million as of February 25, 2013. As of October 2012, the Dual Return Fund  – Vision Microfinance Local Currency volume reached USD 32.2 million and held loans outstanding to 30 MFIs in 16 emerging markets. Its total assets were USD 41.4 million as of February 25, 2013. As of March 2013, the annual label of both of these funds was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector.

By Nicole Boyd, Research Associate

About Absolute Portfolio Management
Absolute Portfolio Management GmbH (APM) is an Austria-based asset management company that offers investment and advisory services in microfinance and other sectors. The firm’s Dual Return Fund – Vision Microfinance and Dual Return Fund – Vision Microfinance Local Currency were created in 2006 and report USD 95.9 million and USD 41.4 million in total assets, respectively, as of February 25, 2013.

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. The fund disburses local-currency loans directly to microfinance institutions (MFIs). As of October 2012, the fund volume reached USD 32.2 million and held loans outstanding to 30 MFIs in 16 emerging markets. Its total assets were USD 41.4 million as of February 25, 2013. As of March 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.

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. As of October 2012, the fund reported loans outstanding to 62 microfinance institutions (MFIs) in 22 emerging markets. Its total assets were USD 95.8 million as of February 25, 2013. As of March 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.

Sources and Additional Resources:

Information submitted to MicroCapital by Absolute Portfolio Management, April 8, 2013.

MicroCapital. March 4, 2013, “MICROCAPITAL BRIEF: Absolute Portfolio Management Loans $8.5m From Dual Return Funds to Microfinance Institutions (MFIs) in Cambodia, Colombia, the Dominican Republic, Georgia, Indonesia, Russia,” https://www.microcapital.org/microcapital-brief-absolute-portfolio-management-loans-8-5m-from-dual-return-funds-to-microfinance-institutions-mfis-in-cambodia-colombia-the-dominican-republic-georgia-indonesia-russia/

MicroCapital. November 2, 2012, “MICROCAPITAL BRIEF: Absolute Dual Return-Vision Microfinance Fund Invests $3.2m in FINCA Russia, AzerCredit of Azerbaijan, Bank Constanta of Georgia, Mikrofin of Bosnia and Herzegovina,” https://www.microcapital.org/microcapital-brief-absolute-dual-return-vision-microfinance-fund-invests-3-2m-in-finca-russia-azercredit-of-azerbaijan-bank-constanta-of-georgia-mikrofin-of-bosnia-and-herzegovina/

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

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

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