MicroRate, a US-based microfinance rating agency, with funding from the Grand Duchy of Luxembourg and the Luxembourg Fund Labeling Agency (LuxFLAG), a non-profit fund certification agency based in Luxembourg, has launched the full version of Luminis, an online analytical platform on microfinance funds. The beta version was launched in January 2012.
Luminis offers analysis based on performance, risk, social and management (PRSM) data. The web-based platform enables investors to compare data and analysis on 80 microfinance funds. Luminis contains full fund profiles and reports including PRSM data for 23 of these funds on a paid subscription basis, with basic fund profiles available at no charge.
MicroRate is a microfinance rating agency formally approved by CGAP (Consultative Group to Assist the Poor); the Inter-American Development Bank; and Peru’s Superintendency of Banking, Insurance and Pension Fund Managers (SBS). Founded in 1997, MicroRate has completed approximately 600 ratings of approximately 200 microfinance institutions (MFIs) worldwide as of 2012. Established in 2006, the Luxembourg Fund Labeling Agency (LuxFLAG) awards a label to eligible microfinance investment vehicles (MIVs) and environment-related investment vehicles (EIVs) indicating that they actually invest, directly or indirectly, in the microfinance or environment sector, respectively.
By Brett Cohen, Research Associate
About MicroRate
MicroRate is a microfinance rating agency formally approved by CGAP (Consultative Group to Assist the Poor); the Inter-American Development Bank; and Peru’s Superintendency of Banking, Insurance and Pension Fund Managers (SBS). It was founded in the US in 1997 with the intent of objectively evaluating microfinance institutions (MFIs) in order to increase, thereby increasing transparency and drive additional funding into microfinance. MicroRate claims to perform its evaluations not through “rigid rating formulas,” but through the “evaluation of critical risk.”MicroRate has completed approximately 600 ratings of approximately 200 MFIs worldwide as of 2012. A private company, MicroRate is based in Washington, DC, with offices in Peru and Morocco.
About LuxFLAG
Established in 2006, the Luxembourg Fund Labeling Agency (LuxFLAG) is a non-profit that 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, respectively. LuxFLAG only certifies MIVs and EIVs that are either subject to European Union member state supervision or are located in nations with financial supervision on par with countries in the European Union. As of 2012, 24 total MIVs have been granted the LuxFLAG Microfinance Label, representing assets of approximately USD 3.48 billion.
Sources and Additional Resources
MicroRate press release: “Luminis, Impact Investing Platform, Creates Unpredicdented Transparency on
Microfinance Funds”?http://www.microrate.com/luminis-impact-investing-platform-creates-unpre..
MicroRate press release: “Microrate Releases Luminis, First Analytical Platform on Microfinance Funds” http://www.microrate.com/wp-content/uploads/2012/01/Press-Release-Lumini...
MicroCapital.org brief, January 13, 2012: “MICROCAPITAL BRIEF: MicroRate, LuxFlag Launch Luminis Looking to Increase Transparency of Microfinance Funds” https://www.microcapital.org/microcapital-brief-microrate-luxflag-launch-…
MicroCapital.org brief, January 27, 2012: “MICROCAPITAL BRIEF: MicroRate MicroRate Founder Damian von Stauffenberg is First to be Named to LuxFLAG Microfinance Label Eligibility Committee” https://www.microcapital.org/microcapital-brief-microrate-founder-damian-…
Similar Posts:
- MICROFINANCE EVENT: GSG Global Impact Summit 2023; October 2-3; Malaga, Spain
- MICROCAPITAL BRIEF: Oxus Kyrgyzstan Borrowing $1.6m from Grameen Credit Agricole Foundation for Microfinance Lending
- MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans $760k to Microfinance Institution Oxus Tajikistan
- MICROCAPITAL BRIEF: Luxembourg Invests $25m in First Close of Green Earth Impact Fund, Managed by BlueOrchard, Schroders
- SPECIAL REPORT: Partner with Agents for Impact, and We’ll Drive Impact Together!
