MICROCAPITAL BRIEF: 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

Absolute Portfolio Management (APM), an Austrian firm that invests in microfinance and other sectors, recently informed MicroCapital that it issued loans equivalent to approximately USD 19 million during November 2013 through the Dual Return Funds it manages to microfinance institutions in Armenia, Bosnia and Herzegovina, Cambodia, Costa Rica, Ecuador, Georgia, India, Kazakhstan and Mongolia [1]. The Dual Return Funds have invested in the other countries previously, India is the only new country receiving investment. The names of investees and the sizes of individual investments have not been disclosed.

The microfinance funds managed by APM are the Dual Return Fund – Vision Microfinance and the Dual Return Fund – Vision Microfinance Local Currency. As of November 2013, the two funds reported total assets of USD 130 million and USD 52.4 million, respectively.

By Nisha Koul, 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 130 million as of November 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 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 52.4 million as of November 25, 2013.

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 – Vision Microfinance and Dual Return Fund – Vision Microfinance Local Currency were created in 2006 and report USD 130 million and USD 52.4 million in total assets, respectively, as of November 25, 2013.

Sources and Additional Resources:

[1] Information submitted to MicroCapital by Absolute Portfolio Management, November 2013.

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, July 15, 2013, “Absolute Portfolio Management’s Dual Return Funds Invest $9.5m in Microfinance Institutions (MFIs) of Eight European, Asian, Latin American Countries,” https://www.microcapital.org/microcapital-brief-absolute-portfolio-managements-dual-return-funds-invest-9-5m-in-microfinance-institutions-mfis-of-eight-european-asian-latin-american-countries/

MicroCapital Story, May 10, 2013, “Absolute Portfolio Management Loans $13m from Dual Return Funds to Microfinance Institutions (MFIs) in South America, Eurasia Including FINCA Armenia,” https://www.microcapital.org/microcapital-brief-absolute-portfolio-management-loans-13m-from-dual-return-funds-to-microfinance-institutions-mfis-in-south-america-eurasia-including-finca-armenia/

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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