ResponsAbility Social Investments, a Swiss investment company, recently completed three investment deals with microfinance institutions (MFIs) in Ecuador, Paraguay and Peru. The investments were made through responsAbility Global Microfinance Fund (rAGMF), a microfinance investment vehicle (MIV) that invests in MFIs and other MIVs. rAGMF invested USD 1 million in debt in Ecuador-based MFI Banco D-Miro and USD 2 million in Financiera El Comercio (Fielco) of Paraguay. It also invested the local-currency equivalent of USD 390,000 in debt in Nueva Vision of Peru.
As of 2011, D-Miro reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 43.6 million and a gross loan portfolio of USD 40.6 million disbursed to 39,500 borrowers. As of the same year, Fielco reported to MIX total assets of USD 136.3 million and a gross loan portfolio of USD 106.1 million disbursed to approximately 84,000 borrowers. As of 2011, Nueva Vision reported total assets of USD 69 million and a gross loan portfolio of USD 59.8 million disbursed to approximately 20,700 borrowers.
By Charlotte Newman, Research Associate
About responsAbility Social Investments
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.
About responsAbility Global Microfinance Fund (rAGMF)
The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments that invests in microfinance institutions (MFIs) and other 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 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. rAGMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 532 million in 2011.
About Banco D-Miro
Banco D-Miro is a microfinance institution based in Guayaquil, Ecuador. As of December 2011, D-Miro reported total assets of USD 40.6 million and a gross loan portfolio of USD 43.6 million disbursed to approximately 39,500 borrowers. It also reported return on equity (ROE) of -11.58 and return on assets (ROA) of -2.82.
About Financiera El Comercio (Fielco)
Fielco is a microfinance institution based in Asuncion, Paraguay that was established in 1976. Services include credit, savings and sending and receiving money. As of 2011, Fielco reported total assets of USD 136 million and a gross loan portfolio of USD 106 million disbursed to approximately 84,000 borrowers.
About Nueva Vision
Nueva Vision is a Peruvian microfinance bank that was formed in 1998. As of 2011, Nueva Vision reported total assets of USD 69 million and a gross loan portfolio of USD 59.8 million disbursed to approximately 20,700 borrowers.
Sources and Additional Resources:
Information sent to MicroCapital.org from responsAbility.
MicroCapital.org story, June 15, 2012, “MICROCAPITAL BRIEF: responsibility Loans $4.1m to ACLEDA Laos, Middle East Micro Credit Company of Jordan,” https://www.microcapital.org/microcapital-brief-responsability-loans-4-1m-to-acleda-laos-middle-east-micro-credit-company-of-jordan/
MicroCapital.org story, May 25, 2012, “MICROCAPITAL BRIEF: ResponsAbility Reaches Deals Totaling $7m with Microfinance Institutions KWFT, MicroCred Ivory Coast, PRIDE,” https://www.microcapital.org/microcapital-brief-responsability-reaches-deals-totaling-7m-with-microfinance-institutions-kwft-microcred-ivory-coast-pride/
MicroCapital Universe Profile: responsAbility Social Investments
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital Universe Profile: reponsAbility Global Microfinance Fund (rAGMF)
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital Universe Profile: Banco D-Miro
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Banco+D-Miro
MicroCapital Universe Profile: Financiera El Comercio
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Fielco
MicroCapital Universe Profile: Nueva Vision
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Nueva+Vision#Description_140_word_limit_
Browse the MicroCapital Universe and add your profile to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Svatantra of India Paying Navi Group $179m for Microfinance Subsidiary Chaitanya
- MICROCAPITAL BRIEF: Impact Asset Management’s Dual Return Vision Microfinance Funds Issue Loans to MFIs in Ecuador, Georgia, Kyrgyzstan, Paraguay
- MICROFINANCE EVENT: Social Enterprise Conference; October 27, 2023; New York City, USA
- MICROCAPITAL BRIEF: UNI2 Microcrédito of Colombia Raises $3m in Debt from Triodos Microfinance Fund, Triodos Fair Share Fund
- MICROCAPITAL BRIEF: Khan Bank Raises $10m in Bond Sale to Vision Microfinance Dual Return Fund to Support Women’s SMEs in Mongolia
