responsAbility Social Investments, an investment company based in Switzerland, recently reported to MicroCapital that it loaned the equivalent of USD 4 million to Coagriscal and Coprocael, Honduran coffee farming cooperatives and Centro de Apoyo al Microempresario (CAME), a microfinance institution (MFI) based in Mexico. The responsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle (MIV) managed by responsAbility, loaned USD 700,000 each to Coagriscal and Coprocael while Mikrofinanz-Fonds, another MIV managed by responsAbility loaned USD 300,000 to each cooperative. Financial data is not available for Coagriscal or Coprocael.
In Mexico, rAGMF and Mikrofinanz-Fonds made local-currency debt investments worth USD 1.6 million and USD 545,000, respectively, in CAME. As of 2009, CAME reported to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, total assets of USD 49.4 million, a gross loan portfolio of USD 35.8 million, return on assets of 1.02 percent, return on equity of 4.60 percent and 186,000 active borrowers.
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 are intended 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. 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 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 microfinance investment vehicles actually support the microfinance sector. rAGMF reports to the US-based nonprofit Microfinance Information Exchange (MIX) that it had 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 US-based nonprofit Microfinance Information Exchange (MIX) 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 Centro de Apoyo al Microempresario (CAME): Centro de Apoyo al Microempresario (CAME) is a microfinance institution that was established in Mexico in 1993. CAME’s mission is to provide affordable financial services to meet the needs of disadvantaged populations in Mexico. CAME also seeks to develop the country’s microfinance sector and to participate in the design and implementation of public policy related to microfinance. As of 2009, CAME reported to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, total assets of USD 49.4 million, a gross loan portfolio of USD 35.8 million, return on assets of 1.02 percent, return on equity of 4.60 percent and 186,000 active borrowers.
Sources and Additional Resources:
Information provided by responsAbility Social Investments to MicroCapital
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 Global Microfinance Fund
MicroCapital’s Microfinance Universe Profile: Mikrofinanz-Fonds
MicroCapital’s Microfinance Universe Profile: Centro de Apoyo al Microempresario (CAME)
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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