Norddeutsche Landesbank (NORD/LB) Luxembourg’s Horizont investment fund, a mutual fund that invests in a variety of asset classes such as inflation-linked bonds, gold and microfinance, recently invested roughly three percent of its volume in the European Fund for Southeast Europe, an international organization that provides financial support to microfinance institutions (MFIs) in southeast Europe [1]. The exact amount of the investment was not publicly available, but NORD/LB Horizont has a volume of EUR 85.5 million (the equivalent of USD 117 million) [2]. NORD/LB is an international commercial bank based in Germany that offers investors the opportunity to invest in microfinance via its Horizont investment fund.
About Norddeutsche Landesbank (NORD/LB) Luxembourg Horizont
Norddeutsche Landesbank (NORD/LB) Luxembourg Horizont is one of the investment funds managed by NORD/LB, a German-based international commercial bank with EUR 23 billion (the equivalent of USD 31 billion) in assets. Founded in October 2009, Horizont has EUR 85.5 million (the equivalent of USD 117 million) under management. The fund invests in a variety of asset classes such as inflation-linked bonds, gold and microfinance.
About the European Fund for Southeast Europe (EFSE)
The European Fund for Southeast Europe (EFSE) aims to foster economic development in the southeastern Europe region by providing financial services to micro- and small enterprises and to private low-income households via qualified local financial institutions. EFSE was set up in 2005, with KfW, a German development bank, as the fund initiator and Oppenheim Asset Management S. à r. l. as the fund manager.
By Eric McKay, Research Assistant
Bibliography
[1] EFSE Press Release, “Investment fund NORD/LB HORIZONT invests in microfinance investment fund EFSE”, http://www.efse.lu/news-events/press-releases/archive/press-releases-2010-02-02.html
[2] “NORD/LB Horizont CF (classic fund)”, NORD/LB, http://www.nordlb.lu/en-us/portal/page/portal/web/private_banking/fonds/fonds/lu0438891177.html
Additional Links
MicroCapital Universe: European Fund for Southeast Europe (EFSE): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Fund+for+Southeast+Europe+%28EFSE%29
MicroCapital Universe: Norddeutsche Landesbank Luxembourg (NORD/LB) Horizont Fund: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Norddeutsche+Landesbank+Luxembourg+%28NORD%2FLB%29+Horizont+Fund
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