responsAbility Social Investments AG (responsAbility), an investment company based in Switzerland, recently reported to MicroCapital that in November 2010 it made four debt investments in microfinance institutions Opportunity Albania and FINCA Russia.
The responsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle MIV managed by responsAbility, loaned the equivalent of USD 981,600 in the local currency to Opportunity Albania, a non-banking microfinance institution (MFI) founded in 1999 in Tirana, Albania. The responsAbility Microfinance Leaders Fund (rAMLF), another MIV managed by responsAbility, also made a debt investment in Opportunity Albania the equivalent of USD 327,200). As of December 2009, Opportunity Albania reports to the Microfinance Information Exchange (MIX) that it has USD 55.6 million in assets, approximately 16,000 active borrowers, a gross loan portfolio of USD 43.3 million, return on assets of 0.02 percent and return on equity of 0.12 percent. It is an affiliate of Opportunity International, a US-based nonprofit organization with a network of MFIs in 24 countries.
Similarly, rAGMF made a debt investment the equivalent of USD 980,556 in FINCA Russia, an affiliate of FINCA International, a microfinance network serving 700,000 people through its subsidiaries in 21 countries. Lastly, Mikrofinanz-Fonds, an MIV also managed by responsAbility and funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf, made a debt investment worth the equivalent of USD 490,278 in FINCA Russia. As of 2009, FINCA Russia reports to the Microfinance Information Exchange (MIX) USD 24 million in assets, a gross loan portfolio of USD 18 million, 8,560 active borrowers, return on assets of -4.28 percent and return on equity of -28.57 percent.
About responsAbility Social Investments AG: Founded in 2003, responsAbility Social Investments AG of Switzerland is an investment company whose products aim to enable investors to earn a financial return while allowing people in developing countries and emerging markets to access markets, information and other services in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. According to calculations based on data on the Microfinance Information Exchange (MIX) from 2009 and 2010, responsAbility manages approximately USD 800 million in total assets. responsAbility is backed by Swiss financial institutions and a social venture capital company as founders and shareholders. These include Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
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 MIV certification organization founded in 2006 to promote the raising of capital for microfinance by certifying MIVs based on their direct or indirect investment in 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): rAMLF is a microfinance investment vehicle (MIV) that invests in large microfinance institutions (MFIs) through debt securities and equity investments. Investments range from USD 50,000 to USD 1.5 million. The Luxembourg Fund Labeling Agency (LuxFLAG), an MIV certification organization founded in 2006 to promote the raising of capital for microfinance by certifying MIVs based on their direct or indirect investment in the microfinance sector, renewed rAMLF’s label in April 2010. rAMLF reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse that it holds USD 159 million in fund assets as of 2010.
About Mikrofinanz-Fondz: Mikrofinanz-Fondz is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments AG of Switzerland and funded by German Bank im Bistum Essen and Stadtsparkasse Dusseldorf. The fund was created in 2007 and in April 2010 was certified by the Luxembourg Fund Labeling Agency (LuxFLAG), an MIV certification organization founded in 2006 to promote the raising of capital for microfinance by certifying MIVs based on their direct or indirect investment in the microfinance sector. Mikrofinance-Fondz reports to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, that it holds USD 103 million in fund assets as of 2010.
About Opportunity Albania: Opportunity Albania is a non-banking microfinance institution (MFI) founded in 1999 in Tirana, Albania. It is an affiliate of Opportunity International, a US-based nonprofit organization with a network of MFIs in 24 countries. It provides business loans to Albanian microenterprises. As of December 2009, Opportunity Albania reports to the Microfinance Information Exchange (MIX) that it has USD 55.6 million in assets, approximately 16,000 active borrowers, a gross loan portfolio of USD 43.3 million, return on assets of 0.02 percent and return on equity of 0.12 percent.
About Opportunity International: Based in the United States, Opportunity International provides small business loans, savings, insurance and training to approximately two million impoverished people in 24 countries in Africa, Asia, South America and Eastern Europe. As of year-end 2009, Opportunity International had total assets of USD 567 million, a gross loan portfolio of USD 388 million and 1.3 million active loans.
About FINCA International: FINCA International is a microfinance network serving 700,000 clients through its subsidiaries in 21 countries. FINCA International indicates that as of December 2009, it holds USD 31 million in total assets.
By Diana Baide, Research Assistant
[1] Data submitted to MicroCapital by responsAbility in December 2010
MicroCapital’s Microfinance Universe profile: responsAbility
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital’s Microfinance Universe profile: rAGMF
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+(rAGMF)
MicroCapital’s Microfinance Universe profile: rAMLF
MicroCapital’s Microfinance Universe profile: Mikrofinanz-Fonds
MicroCapital’s Microfinance Universe profile: Opportunity Albania
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Opportunity+Albania
MicroCapital’s Microfinance Universe profile: FINCA International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+International
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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