Microfinance Funds Universe > Non-Commercial Funds > Microfinance Development Funds > Alterfin
Key features
- Country of incorporation:
- Year founded: 1994
- Legal Status: Cooperative society with limited liability
- Fund Assets: USD 13,807,604 ( EUR 11,662,320 as of 2005-12-31)
- Fund Assets Allocated to MF Investments: USD 4,968,446 (EUR 4,196,500 as of 2005-12-31)
- Number of active MF investment: 29 ( as of 2005-12-31)
- Area of Operation: Africa, East Asia and the Pacific, Latin America and The
- Participant(s)/Backer(s)/Investor(s): n/a
Brief Description
The Fund was established at the end of 1994 as a co-operative society. Initial shareholders were 11.11.11, an umbrella-organization of Flemish non-governmental organizations (NGOs), 8 NGOs and 2 banks (Mercator Bank, owned by a Belgian insurance company, and the Triodos bank, a Dutch commercial bank with a social mission profiled below). Alterfin currently has over 970 shareholders, 60 of whom are institutional shareholders (among them Triodos Bank, Mercator Bank, FORTIS, an international financial services provider active in the fields of banking and insurance, The Body Shop, a US cosmetics company, SOS Faim, a Belgian NGO which works with rural populations, and Oxfam Solidarity, a Belgian program of Oxfam International, a British non-profit), while the rest are private shareholders, the names of which are not publicly available. Fund description posted on MIX states that the Fund’s objective “is to contribute to sustainable development of the poor by providing financial and technical services to local savings and credit organizations and to associations of producers linked to the fair-trade movement.”
Contact Information
Vlasfabriekstraat 11,
Hugo Couderé, Managing Director, 32 2 538 5862, alterfin@alterfin.be
Link on MIX Market
http://www.mixmarket.org/en/supply/supply.show.profile.asp?token=&ett=28