Capital Gestion Microfinance Fund, which is managed by Banque de Luxembourg Investments, has obtained a “Microfinance Label” from the Luxembourg Fund Labeling Agency (LuxFLAG), a microfinance investment vehicle (MIV) certification organization.The label indicates that Capital Gestion Microfinance Fund invests directly in microfinance institutions (MFIs) or into other MIVs. As of 2012, the 25 MIVs that hold LuxFLAG’s Microfinance Label represent approximately USD 3.72 billion in assets. Further information on Capital Gestion Microfinance Fund is unavailable.
In addition, LuxFLAG accepted three new Associate Members: BGL-BNP Paribas Luxembourg Bank; Bonn Steichen and Partners, a law firm in Luxembourg; and Public Research Center Henri Tudor, a Luxembourg-based research institution. LuxFLAG now has 36 associate members, who have all agreed to engage in financial activities while accepting a social responsibility to invest in sustainable ventures.
LuxFLAG also certified Living Planet Fund – Global Environment, which is managed by Living Planet Fund Management Company of Luxembourg, and Parvest Global Environment, a fund managed by BNP Paribas Investment Partners of Luxembourg, with its “Environment Label.” As of October 2012, LuxFLAG has five funds holding its Environment Label representing approximately USD 478 million in assets.
BNP Paribas, a French banking group with assets of EUR 1.97 trillion (USD 2.55 trillion), launched Parvest Global Environment in 2008. As of August 2012, Parvest Global Environment’s fund size reached EUR 39.3 million (USD 50.9 million). The Living Planet Management Company, a subsidiary of the conservation agency World Wide Fund (WWF) for Nature International, launched its fund of the same name in 2003. As of 2011, Living Planet Fund – Global Environment reports total assets of EUR 14.8 million (USD 19.2 million).
By Sarah Benali, Research Associate
About LuxFLAG Established in 2006, the Luxembourg Fund Labeling Agency (LuxFLAG) aims to “promote the raising of capital for Microfinance and Environment related sectors by awarding a recognizable label to eligible microfinance investment vehicles (MIVs) and environment-related investment vehicles (EIVs).” Its objective is to reassure investors that the MIV or EIV actually invests, directly or indirectly, in the microfinance or environment sector. LuxFLAG only certifies MIVs and EIVs that are either subject to European Union member state supervision or located in nations with financial supervision on par with countries in the European Union. As of 2012, 25 MIVs have been granted the LuxFLAG Microfinance Label, representing assets of approximately USD 3.48 billion, and five funds hold its Environment Label representing assets of nearly USD 478 million.
Sources and Additional Resources
LuxFLAG Press Release: “LuxFLAG now labels thirty funds,” October, 2012,http://www.luxflag.org/documents/press_releases/2012/LuxFLAG_press_release_Oct2012.pdf
Banque de Luxembourg News: “Microfinance as an asset class,” Jean-Philippe Donge, June, 2012, http://www.guywagnerblog.com/eng/entry/microfinance
Living Planet Fund: “Living Planet Fund – Global Environment,”http://www.livingplanetfund.com/products/products/living_planet_fund___global_environment/
MicroCapital.org story: “MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies FondsEuropeen de FinancementSolidaire (FEFISOL) with ‘Microfinance Label’,” May 2, 2012, https://www.microcapital.org/microcapital-brief-luxembourg-fund-labeling-agency-luxflag-certifies-fonds-europeen-de-financement-solidaire-fefisol-with-microfinance-label/
MicroCapital.org story: “MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Certifies Access Africa Fund with “Microfinance Label”, April 30, 2012, https://www.microcapital.org/microcapital-brief-luxembourg-fund-labeling-agency-luxflag-certifies-access-africa-fund-with-microfinance-label/
MicroCapital.org story: “MICROCAPITAL BRIEF: Luxembourg Fund Labeling Agency (LuxFLAG) Awards First Microfinance Label to Azure Global Microfinance Fund, responsAbility Financial Inclusion Fund”, February 14, 2012, https://www.microcapital.org/microcapital-brief-luxembourg-fund-labeling-agency-luxflag-awards-first-microfinance-label-to-azure-global-microfinance-fund-responsability-financial-inclusion-fund/
MicroCapitalUniverse Profile: LuxFLAG
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=LuxFLAG
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