MICROCAPITAL BRIEF: Microfinance Investor Developing World Markets (DWM) Aligns Social Scorecard with Impact and Reporting Investment Standards (IRIS); Announces Staff Changes

US-based asset manager and investment bank Developing World Markets (DWM) has recently announced that it has expanded and redesigned its proprietary social scorecard to align it with the Impact and Reporting Investment Standards (IRIS), an initiative of the US-based nonprofit Global Impact Investing Network (GIIN) to create a common framework for defining, tracking and reporting the performance of for-profit investment intended to solve social and environmental problems [1]. Adopting IRIS will allow side-by-side comparisons and performance benchmarking among DWM investments and those managed by other companies that follow IRIS [2].

DWM has also announced that Judy Kirst-Kolkman, co-founder of DWM, has been appointed Managing Partner, responsible for developing operational strategies, fund management and fund administration. Richard Marney, the former senior vice president of corporate development and product management at US-based nonprofit Opportunity International, has joined DWM as Managing Director and Head of Fund Management, responsible for portfolio management and fund-level investment strategies [1].

DWM is dedicated to making socially positive investments to promote sustainable economic development. It provides both debt and equity investments to microfinance institutions (MFIs) and other socially motivated organizations. As of March 2011, it reported USD 880 million of assets under management and has invested in approximately 140 MFIs worldwide.

By Kristha Abores, Research Associate

About Developing World Markets:
Developing World Markets (DWM) is a US-based asset manager and investment bank dedicated to making socially positive investments to promote sustainable economic development. It provides both debt and equity investments to microfinance institutions (MFIs) and other socially motivated organizations. As of March 2011, it reported USD 880 million of assets under management and has invested in approximately 140 MFIs worldwide.

About Opportunity International:
Based in the United States, Opportunity International is a nonprofit organization that was founded in 1971. Today, Opportunity International provides small business loans, savings, insurance and training to approximately two million poor people in 24 countries in Africa, Asia, South America and Eastern Europe. As of December 31, 2010, Opportunity International reported total assets of USD 150 million with an annual revenue of USD 32 million.

About Impact Reporting and Investment Standards (IRIS):
The Impact Reporting and Investment Standards (IRIS) were established by the Rockefeller Foundation, Acumen Fund and B Lab in 2009 in an effort to create a common framework for defining, tracking and reporting the performance of “impact capital” – for-profit investment intended to solve social and environmental problems. This framework “forms a basis for enabling infrastructure and leads to transparency and credibility.” In late 2009, IRIS became an initiative within the Global Impact Investing Network (GIIN), a nonprofit organization dedicated to increasing the effectiveness of impact investing.

Sources and Additional Resources:

[1] Information submitted by Developing World Markets to MicroCapital

[2] Impact Reporting & Investment Standards: “About IRIS”, http://iris.thegiin.org/about-iris

Impact Reporting & Investment Standards: “IRIS Standards”, http://iris.thegiin.org/iris-standards

MicroCapital.org article, April 8, 2011, “MICROCAPITAL BRIEF: MicroCred Holding, MicroCred China Receive Capital Increases Totaling $31m, Including Participation From AXA Belgium, Developing World Markets, IFC, KfW”, https://www.microcapital.org/microcapital-brief-microcred-holding-microcr…

MicroCapital.org article, March 1, 2011, “MICROCAPITAL BRIEF: Daiwa Securities Group of Japan Raises $236m for Retail Microfinance Fund to Be Managed by Developing World Markets (DWM) Asset Management LLC of USA”, https://www.microcapital.org/microcapital-brief-daiwa-securities-group-of…

MicroCapital.org article, January 10, 2011, “MICROCAPITAL BRIEF: Ujjivan Financial Services Raises $8.8m of Debt Capital Through Non-Convertible Debenture (NCD) Issuance to Developing World Market’s Member Company DWM (Cyprus) Limited”, https://www.microcapital.org/microcapital-brief-ujjivan-financial-service…

MicroCapital Universe Profile: Developing World Markets, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Dev…

MicroCapital Universe Profile: Opportunity International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+International

MicroCapital Universe Profile: Impact Reporting and Investment Standards, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Imp…

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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