MICROCAPITAL BRIEF: responsAbility Social Investments Loans $2.67m to Mexican Microfinance Institution (MFI) KapitalMujer and Crezcamos of Colombia

Three microfinance investment vehicles managed by the Swiss social investment company responsAbility (ResponsAbility Global Microfinance Fund (rAGMF), ResponsAbility Microfinance Leaders Fund (rAMLF) and responsAbility Mikrofinanz-Fonds) loaned a total of USD 2.67 million to microfinance institutions (MFIs) KapitalMujer and Crezcamos Colombia.

KapitalMujer, based in Mexico, received USD 403,000 each from rAGMF, rAMLF and responsAbility Mikrofinanz-Fonds. On the other hand, Crezcamos of Colombia received USD 978,000 and USD 489,000 from rAGMF and rAMLF respectively. All five loans were made available to the MFIs in their local currencies.

The exact financial terms of the transactions are not disclosed.

According to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, Crezcamos Colombia reports total assets of USD 8.29 million, a gross loan portfolio of USD 6.29 million and return on assets of 0.02 percent as of 2009. KapitalMujer current does not report to the MIX, and financial details are not available elsewhere on the MFI. The rAGMF has USD 474 million in fund assets while rAMLF and Mikrofinanz-Fonds have USD 160 million and USD 103 million under management respectively as of 2010.

About responsAbility Global Microfinance Fund (rAGMF):

rAGMF is a microfinance vehicle (MIV) managed by responsAbility that invests in microfinance institutions (MFIs) and microfinance investment vehicles (MIVs), mostly through short- to medium-term debt securities. rAGMF also invests up to 10 percent of its assets in the equity of MFIs. In April 2010, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an independent organization that investigates whether microfinance investment vehicles actually support the microfinance sector. rAGMF reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, that it has USD 474 million in fund assets as of 2010.

About responsAbility Microfinance Leaders Fund (rAMLF):

The responsAbility Microfinance Leaders Fund (rAMLF) is a microfinance investment vehicle that mobilizes capital for microfinance institutions (MFIs). It invests in large microfinance institutions (MFIs) through debt securities and equity investments. Investments range from USD 50,000 to USD 1.5 million. LuxFLAG, an independent organization that certifies that microfinance vehicles actually invest in the microfinance sector, renewed rAMFL’s label as of April 2010. rAMFL reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse that it has USD 160 million in fund assets as of 2010.

About Mikrofinanz-Fonds:

Mikrofinanz-Fonds is a microfinance investment vehicle (MIV) that was launched in 2007, is managed by responsAbility Social Investments AG of Switzerland and is funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf. It invests in microfinance institutions (MFIs) through debt securities and equity investments. Mikrofinanz-Fonds reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, that it holds USD 103 million in assets as of 2010. Luxembourg Fund Labeling Agency (LuxFLAG), an independent organization that investigates whether microfinance investment vehicles actually support the microfinance sector, renewed its certification of Mikrofinanz-Fonds as of April 2010.

By Trevor Kwong, Research Assistant

Sources and Additional Resources:

[1] Source: responsAbility email correspondence with MicroCapital

[2] MicroCapital Universe: responsAbility Global Microfinance Fund:

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+(rAGMF)

[3] MicroCapital Universe: responsAbility Microfinance Leaders Fund (rAMLF):

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Microfinance+Leaders+Fund+(rAMLF)

[4] MicroCapital Universe: responsAbility Mikrofinanz-Fonds:

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds

[5] MicroCapital Universe: Crezcamos Colombia:

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Crezcamos+Colombia

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

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