ResponsAbility Social Investments, a for-profit Swiss fund manager, recently informed MicroCapital that it has loaned the local-currency equivalent of USD 1.2 million as subordinated debt to Caja Municipal de Ahorro y Crédito de Maynas, a Peruvian microfinance institution (MFI). As of 2011, Caja Maynas reports total assets OF USD 133 million, a gross loan portfolio of USD 110 million disbursed to 33,039 active borrowers, return on assets (ROA) of 1.61 percent, return on equity (ROE) of 12.2 percent and USD 94.1 million in deposits from 54,936 depositors.
Vision Fund International, a US-based nonprofit organization that manages the MFIs of the UK-based nonprofit relief organization World Vision International, also recently borrowed the first portion of USD 15 million in senior debt from responsAbility. While the size of this first tranche has not been disclosed, the investment makes responsAbility the largest external investor in World Vision MFIs. VisionFund has a loan portfolio of USD 360 million helping 688,000 small businesses in 36 countries.
Founded in 2003, Swiss-based responsAbility Social Investments aims to enable investors to earn financial return while assisting people in emerging markets. As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion.
By Sarah Benali, Research Associate
About Caja Municipal de Ahorro y Credito de Maynas Established in September 1987, Caja Municipal de Ahorro y Credito de Maynas is a microfinance instution based in Peru that was authorized to collect savings in 1990. As of 2011, Caja Maynas reports total assets USD 133 million, a gross loan portfolio of USD 110 million oustanding to 33,039 active borrowers, return on assets (ROA) of 1.61 percent, return on equity (ROE) of 12.2 percent and USD 94.1 million in deposits from 54,936 depositors.
About VisionFund International
VisionFund, a US-based nonprofit organization, offers financial services to families living in poverty in the developing world through a network of microfinance institutions in 36 countries in Asia, Africa, Latin America and the Caribbean, the Middle East and Eastern Europe. Its services include small loans and business training and support. VisionFund is part of US-based World Vision, a Christian relief, development and advocacy organisation. VisionFund has a loan portfolio of USD 360 million helping 688,000 small businesses.
About responsAbility
Founded in 2003, responsAbility Social Investments AG is a Swiss investment company whose products aim to enable investors to earn a financial return while assisting people in emerging markets to access information and markets in sectors such as microfinance, small and medium-sized enterprise (SME) financing, fair trade and independent media. As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. 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.
Sources and Additional Resources
Information submitted by responsAbllity to MicroCapital.
MicroCapital.org story: “MICROCAPITAL BRIEF: responsAbility Funds Invest $2m in ProEmpresa of Peru, $1.5m in COAC Progreso of Ecuador,” October 15, 2012, https://www.microcapital.org/microcapital-brief-responsability-funds-invest-2m-in-proempresa-of-peru-1-5m-in-coac-progreso-of-ecuador/
MicroCapital.org story: “MICROCAPITAL BRIEF: VisionFund International Releases Three-Year Plan to Improve Lives of 3.5m Children,” June 12, 2012, https://www.microcapital.org/microcapital-brief-visionfund-international-releases-three-year-plan-to-improve-lives-of-3-5m-children/
MicroCapital Universe Profile: Caja Municipal de Ahorro y Credito de Maynas
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Caja+Municipal+de+Ahorro+y+Credito+de+Maynas
MicroCapital Universe Profile: responsAbility Social Investments AG https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe Profile: responsAbility Global Microfinance Fund (rAGMF) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital Universe Profile: responsAbility Mikrofinanz-Fonds https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
MicroCapital Universe Profile: VisionFund International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=VisionFund+International
MicroCapital Universe Profile: World Vision International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=World+Vision
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