MICROCAPITAL BRIEF: Absolute Portfolio Management’s Vision Microfinance Funds Loan $5m to Microfinance Institutions (MFIs) in Georgia, Bolivia, Tajikistan

Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, disbursed a total of USD 5 million as loans from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unidentified microfinance institutions (MFIs) in Georgia, Bolivia and Tajikistan. Of the total, USD 1 million was invested in an MFI that was founded in 1997 in the Georgian capital city, Tbilisi, and provides financial services to poor individuals as well as micro- and small businesses with an emphasis on rural areas. In addition to traditional branches, the MFI operates through 2,600 “village councilors” in rural areas.

As of June 2014, APM reports total assets of USD 323 million under management. As of February 25, 2014, Dual Return Fund-Vision Microfinance Local Currency reports total assets of USD 49.5 million. As of August 2014, the Dual Return Fund-Vision Microfinance has total assets of USD 291 million.

About Absolute Portfolio Management (APM)

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. As of June 2014, APM reports total assets of USD 323 million under management. APM is a unit of Austrian Fund Group C-Quadrat.

About Dual Return Fund- Vision Microfinance

The Dual Return Fund 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 2014, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. As of August 2014, the Dual Return Fund reported total assets of USD 291 million.

About Dual Return Fund- Vision Microfinance Local Currency

The Dual Return Fund 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 2014, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. As of February 25, 2014, Dual Return Fund- Vision Microfinance Local Currency reports total assets of USD 49.5 million.

Sources and Additional Resources

Information provided to MicroCapital by absolute portfolio management, August 2014

MicroCapital, July 27, 2014: Absolute Portfolio Management’s Vision Microfinance Funds Loan $14m to Microfinance Institutions (MFIs) in Armenia, China, India, Peru, Tajikistan

MicroCapital, June 30, 2014: Absolute Portfolio Management’s Vision Microfinance Funds Loan $9.4m to Microfinance Institutions (MFIs) in Armenia, India, Kazakhstan, Kyrgyzstan, Mongolia, Peru, Sri Lanka, Tanzania

MicroCapital, February 3, 2014: Absolute Portfolio Management Loans $18m from Dual Return Funds to Microfinance Institutions in Asia, Latin America

MicroCapital Universe Profile: Absolute Portfolio Management

MicroCapital Universe Profile: Dual Return Fund-Vision Microfinance Local Currency

MicroCapital Universe Profile: Dual Return Vision Microfinance Fund

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