Daiwa Securities Group Incorporated, a Tokyo-based financial services holding company, recently announced the opening of an investment trust fund in Japan that will invest directly in microfinance institutions (MFIs) in developing countries.
The fund will be sold through a Japanese subsidiary of the group, Daiwa Securities Company Limited, and other unnamed companies starting February 2011. The minimum investment size is set at JPY 1,000 (USD 12).
USD 236 million has so far been raised for the fund according to Kari Filerman, an analyst at Developing World Markets (DWM) Asset Management LLC, a member of Developing World Markets Group, a US-based asset management company that will manage the fund [1].
As of 2010, Daiwa Securities Group Incorporated reported total assets of JPY 16 trillion (USD 195 billion).
By Medha Ravi, Research Associate
About Daiwa Securities Group Incorporated:
Daiwa Securities Group Inc, founded in 1999, is the Tokyo-based holding company of a group of financial services firms that operate in Asia, Europe, Oceania and the United States. As of 2010, the group reported total assets of JPY 16 trillion (USD 195 billion).
About Daiwa Securities Company Limited:
Established in 1999 in Japan, Daiwa Securities Company Limited is a fully owned subsidiary of the Daiwa Securities Group Incorporated that offers retail services such as online trading and consulting to individual investors and unlisted companies.
About Developing World Markets:
Developing World Markets (DWM) is a US-based asset manager and investment bank dedicated to making socially beneficial investments to promote sustainable economic development. It provides both debt and equity investments to microfinance institutions (MFIs) and other socially motivated organizations. As of 2010, DWM has USD 600 million assets under management and has invested in approximately 100 MFIs in approximately 30 countries.
Source and Resources:
Bloomberg Business Week article, “Daiwa Securities to Launch Microfinance Fund in Japan”, http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=DSE:GR
[1] Information provided by Developing World Markets (DWM) to MicroCapital
MicroCapital.org story, September 3, 2010, “MICROCAPITAL BRIEF: International Finance Corporation and Daiwa Securities Group Inc Announce Plan to Issue Bond, Expect to Raise $323m to Support Microfinance in Emerging Markets”, https://www.microcapital.org/microcapital-brief-international-finance-corporation-and-daiwa-securities-group-inc-announce-plan-to-issue-bond-expect-to-raise-323m-to-support-microfinance-in-emerging-markets/
MicroCapital.org story, June 8, 2010, “MICROCAPITAL BRIEF: Daiwa Securities Group to Issue Bonds in Japanese Market to Support Operations of European Bank for Reconstruction and Development (EBRD)”, https://www.microcapital.org/microcapital-brief-daiwa-securities-group-to-issue-bonds-in-japanese-market-to-support-operations-of-european-bank-for-reconstruction-and-development-ebrd/
MicroCapital’s Microfinance Universe Profile: Daiwa Securities Group, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Daiwa+Securities+Group
MicroCapital’s Microfinance Universe Profile: Daiwa Securities Company Limited, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Daiwa+Securities+Company+Limited
MicroCapital’s Microfinance Universe Profile: Developing World Markets (DWM), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Developing+World+Markets+%28DWM%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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