Absolute Portfolio Management GmbH, an Austrian investment company that specializes in microfinance, reports that the Dual Return Fund-Vision Microfinance, a sub-fund of Absolute’s Vision Microfinance, had a total fund volume of EUR 85.8 million (USD 109 million) with loans issued to 65 microfinance institutions (MFIs) in 25 emerging markets as of December 2011. In 2011, the fund provided investors with net returns of 2.51 percent for its retail EUR (P) share class and 3.23 percent for its institutional EUR (I) share class [1]. The Dual Return Fund – Vision Microfinance Local Currency, a sub-fund of Absolute’s Vision Microfinance that provides loans to microfinance institutions (MFIs) exclusively in local currencies, reports that the fund provided investors with net returns of 4.55 percent for its USD (I) share class during 2011, with a fund volume of USD 28.8 million and loans outstanding to 29 MFIs in 18 emerging markets.
Dr Arman Vardanyan, Dual Return Fund – Vision Microfinance Fund Manager, opines that “the general market outlook for 2012 is positive” and that a “favorable outlook for sustained economic growth in a number of emerging and frontier markets [will] stimulate the increased demand for microfinance loans.”
By Nisha Koul, Research Associate
About Dual Return Vision Microfinance Fund: The Dual Return Fund is a sub-fund of Vision Microfinance, both of which were created in 2006 by Absolute Portfolio Management GmbH, an Austrian investment company specializing in microfinance. In 2011, the fund provided investors with net returns of 2.51 percent for its retail EUR (P) share class, 3.23 percent for its institutional EUR (I) share class and total fund volume of EUR 85.8 million (USD 109 million) with loans issued to 65 microfinance institutions (MFIs) in 25 emerging markets. In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector.
About Dual Return Fund – Vision Microfinance Local Currency: The Dual Return Fund – Vision Microfinance Local Currency is a sub-fund of Vision Microfinance, both of which were created in 2006 by Absolute Portfolio Management GmbH, an Austrian investment company specializing in microfinance. The Vision Microfinance Local Currency fund disburses local-currency loans directly to microfinance institutions (MFIs). As of 2011, the fund provided investors with net returns of 4.55 percent for its USD (I) share class, achieved a fund volume of USD 28.8 million and held loans outstanding to 29 MFIs in 18 emerging markets. In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector.
Sources and Additional Resources:
[1] “Dual Return Fund – Vision Microfinance & Vision Microfinance Local Currency Factsheet December, 2011” submitted to MicroCapital.
MicroCapital.org story, December 2, 2011, “MICROCAPITAL BRIEF: Vision’s Dual Return Fund Loans $6.2m to Microfinance Institutions in Latin America, Africa, Central Asia,” https://www.microcapital.org/microcapital-brief-vision%E2%80%99s-dual-return-fund-loans-6-2m-to-microfinance-institutions-in-latin-america-africa-central-asia/
MicroCapital.org story, September 14, 2011, “MICROCAPITAL BRIEF: Dual Return Fund of Vision Microfinance Loans $1.5m to Microfinance Institutions in Colombia, Dominican Republic,” https://www.microcapital.org/microcapital-brief-dual-return-fund-of-vision-microfinance-loans-1-5m-to-microfinance-institutions-in-colombia-dominican-republic/
MicroCapital Universe Profile: Dual Return – Vision Microfinance Fund, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=DUAL+RETURN+VISION+MICROFINANCE+FUND
MicroCapital Universe Profile: Dual Return – Vision Microfinance Local Currency Fund,https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Dual+Return+-+Vision+Microfinance+Local+Currency+Fund
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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