responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it invested a total of USD 8 million in microfinance institutions (MFIs) in Latin America. The responsAbility Microfinance Leaders Fund (rAMLF) and the responsAbility Global Microfinance Fund (rAGMF), microfinance investment vehicles (MIVs) managed by responsAbility, loaned USD 600,000 and USD 400,000 respectively to Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL), a Honduran MFI established in 1968 that reported total assets of HNL 357 million (USD 19 million) as of December 31, 2009. rAMLF and rAGMF also loaned USD 1.2 million and USD 3.7 million respectively to Mutual Cartago de Ahorro y Prestamo (MUCAP), a Costa Rican MFI that focuses on housing and finance. According to MUCAP’s 2009 financial statement, the MFI had total assets of CRC 177 billion (USD 348 million) and a total loan portfolio of CRC 101 billion (USD 199 million). Neither COMIXMUL nor MUCAP report to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse.
In El Salvador, Apoyo Integral, an MFI established in 1990 also received USD 500,000 from rAGMF and USD 500,000 from Mikrofinanz-Fonds, another MIV managed by responsAbility. Apoyo Integral reported to MIX a gross loan portfolio (GLP) of USD 59.4 million, total assets of USD 66.5 million, return on assets (ROA) of 0.09 percent and return on equity (ROE) of 0.59 percent. Fondo de Desarrollo Local (FDL), a Nicaraguan MFI, also received USD 1 million from rAGMF. As of year-end 2009, FDL reported to MIX, a GLP of USD 69.3 million, total assets of USD 81 million and 76,700 active borrowers. In the same year, its ROA was -3.99 percent and its ROE was -25.89 percent.
By Julie Moksim, Research Associate
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 from 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 including Baumann & Cie, Banquiers, Credit Suisse, Raiffeisen Schweiz, Swiss Re, Bank Vontobel AG as well as George Avenue.
About responsAbility Microfinance Leaders Fund (rAMLF): The responsAbility Microfinance Leaders Fund (rAMLF) 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 investment vehicles actually invest in the microfinance sector, renewed rAMLF’s label as of April 2010. rAMLF reported 129 active investments in microfinance in 2010 and total fund assets of USD 160 million.
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 organization that investigates whether 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 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 organization that investigates whether microfinance investment vehicles actually support the microfinance sector, renewed its certification of Mikrofinanz-Fonds as of April 2010.
About Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL): COMIXMUL was established in 1968 in Honduras. It is a cooperative that provides microfinance services and business development programs to its members. COMIXMUL works primarily with underserved women. As of December 31, 2009, COMIXMUL reported total assets of HNL 357 million (USD 19 million). COMMIXMUL does not report financial information to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse.
About Apoyo Integral: Apoyo Integral is a microfinance institution (MFI) that was established in El Salvador in 1990. Apoyo Integral provides access to financial services including microcredit and microinsurance to poor individuals. In 2009, Apoyo Integral reported to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, a gross loan portfolio of USD 59.4 million, total assets of USD 66.5 million, return on assets of 0.09 percent and return on equity of 0.59 percent.
About Mutual Cartago de Ahorro y Prestamo (MUCAP): MUCAP is a microfinance institution (MFI) in Costa Rica that focuses on housing and finance. According to MUCAP’s financial statement dated 2009, the MFI had total assets of CRC 177 billion (approximately USD 348 million) and a total loan portfolio of CRC 101 billion (approximately USD 199 million). The MFI currently does not report financial data to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse.
About Fondo de Desarrollo Local (FDL): Fondo de Desarrollo (FDL) is a credit program based in Nicaragua that was created by the development organization, Nitlapan. Eventually FDL spun off as an MFI with its own legal identity. Both Nitlapan and FDL are affiliates of Central American University in Managua, Nicaragua. As of year-end 2009, FDL reported to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse, a gross loan portfolio of USD 69.3 million, total assets of USD 81 million and 76,700 active borrowers. In the same year, its return on assets was -3.99 percent and its return on equity was -25.89 percent.
MicroCapital’s Microfinance Universe Profile: responsAbility Social Investments AG
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital’s Microfinance Universe Profile: responsAbility Microfinance Leaders Fund (rAMLF)
MicroCapital’s Microfinance Universe Profile: responsAbility Global Microfinance Fund (rAGMF)
MicroCapital’s Microfinance Universe Profile: Mikrofinanz-Fonds
MicroCapital’s Microfinance Universe Profile: Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL)
MicroCapital’s Microfinance Universe Profile: Apoyo Integral
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Apoyo+Integral
MicroCapital?s Microfinance Universe Profile: Mutual Cartago de Ahorro y Prestamo (MUCAP)
MicroCapital?s Microfinance Universe Profile: Fondo de Desarrollo Local (FDL)
Browse the MicroCapital Universe and add your entry to the wiki at:
https://www.microcapital.org/microfinanceuniverse/
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