Austria’s C-Quadrat Asset Management informed MicroCapital today that its Dual Return Vision Microfinance and Dual Return Vision Microfinance-Local Currency funds loaned a total approximately equivalent to USD 63.5 million during December to unspecified microfinance institutions (MFIs) in countries including Ghana, Indonesia, Kenya, Mongolia and Sri Lanka. The names of the MFIs and the other countries in which they are located have not been released.
Of this total, USD 1.5 million, part in local currency, was disbursed to an Indonesian cooperative that was founded in 2009. Although it is based in Jakarta, it focuses on delivering group loans in rural areas. The MFI also offers financial education and voluntary savings, and it is piloting a loan product specifically for agriculture.
The Dual Return funds, which recently began offering sales to the public in Germany, have an aggregate total volume of USD 457 million as of December 2016. C-Quadrat Asset Management is a unit of Austrian fund group C-Quadrat, which manages assets equivalent to EUR 5.3 billion (USD 5.9 billion) as of May 2016.
Sources and Additional Resources
Information provided directly to MicroCapital by C-Quadrat.
Dual Return Funds Managed by C-Quadrat Loan $17m to Microfinance Institutions (MFIs) in Costa Rica, Ghana, India, Kenya, Mexico, Peru, the Philippines
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.