responsAbility Social Investments AG, an investment company based in Switzerland, recently reported to MicroCapital that it loaned the equivalent of USD 3.9 million to microfinance organizations Financiera Confianza and Cooperativa Agropecuaria Limitada Naranjillo of Peru.
responsAbility Global Microfinance Fund (rAGMF) and Mikrofinanz-Fonds, two microfinance investment vehicles (MIVs) managed by responsAbility, invested the local currency equivalent of USD 2.9 million in Financiera Confianza, a microfinance institution (MFI) that was founded in Peru in 1992 as the Entrepreneurial Development Program by the Inter-American Development Bank (IDB) and the nongovernmental organization (NGO) Servicios Educativos Promocion y Apoyo Rural (SEPAR) of Peru. As of June 2010, Financiera Confianza reports to the Microfinance Information Exchange (MIX), a US-based nonprofit, USD 147 million in assets, a gross loan portfolio of USD 114 million, 73,000 active borrowers, return on assets of 0.38 percent and return on equity of 2.26 percent.
rAGMF and Mikrofinanz-Fonds also invested the local currency equivalent of USD 1 million in Cooperativa Agropecuaria Limitada Naranjillo, a Peruvian fair-trade cocoa and coffee producer cooperative. Naranjillo was founded in December 1964 with 32 members in an effort to raise prices the farmers were receiving for their crops and today seeks to be “a leader nationally and internationally in the production processing and marketing of cocoa, coffee and other products, positioning in markets with high quality management and environmentally responsible.” Financial information is not currently available for Naranjillo.
According to calculations based on data from MIX from 2009 and 2010, responsAbility manages approximately USD 800 million in total assets.
By: Alexandra Pattee, Research Associate
About responsAbility Social Investments AG: 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. According to calculations based on data from the Microfinance Information Exchange (MIX) from 2009 and 2010, responsAbility manages approximately USD 800 million in total assets. 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): rAGMF is a microfinance investment vehicle (MIV) managed by responsAbility that invests in microfinance institutions (MFIs) and 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 2010, 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 Microfinance Information Exchange (MIX), the US nonprofit data provider, that it had USD 493 million in fund assets as of 2011. Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector, renewed its certification of rAGMF as of March 2011.
About responsAbility Mikrofinanz-Fonds: Mikrofinanz-Fonds is a microfinance investment vehicle (MIV) that was launched in 2007, is managed by responsAbility Social Investments AG of Switzerland and is funded by German financial institutions Bank im Bistum Essen and Stadtsparkasse Dusseldorf. It invests in microfinance institutions (MFIs) through debt securities and equity investments. Mikrofinanz-Fonds reports to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, that it held USD 140 million in assets as of 2011. Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector, renewed its certification of Mikrofinanz-Fonds as of April 2011.
About Financiera Confianza: Financiera Confianza is a microfinance institution that was founded in Peru in 1992 as the Entrepreneurial Development Program by the Inter-American Development Bank (IADB) of the US and the nongovernmental organization (NGO) Servicios Educativos Promocion y Apoyo Rural (SEPAR) of Peru. In 1998, the program grew to become a financial institution and the organization changed its name to Epdyme Confianza. In 2009, it again changed its name to Financiera Confianza. It now offers microloans to rural and urban enterprises. As of June 2010, Financiera Confianza reports to the Microfinance Information Exchange (MIX), a US- based nonprofit, USD 147 million in assets, a gross loan portfolio of USD 114 million, 73,000 active borrowers, return on assets of 0.38 percent and return on equity of 2.26 percent.
Sources and Resources:
[1] Data submitted by responsAbility Social Investments AG to MicroCapital, May 2011
MicroCapital.org Article, April 26, 2011, “responsAbility of Switzerland Loans $6.9m to FIE Grand Poder of Argentina, Corporacion Narino Empresa y Futuro (Contactar) of Colombia, Banco Solidario of Ecuador, Arasy Organica of Paraguay”, https://www.microcapital.org/microcapital-brief-responsability-of-switzerland-loans-6-9m-to-fie-grand-poder-of-argentina-corporacion-narino-empresa-y-futuro-contactar-of-colombia-banco-solidario-of-ecuador-arasy-organica-o/
MicroCapital.org Article, April 20, 2011, “responsAbility Social Investments of Switzerland Makes Debt Investments Worth $4m in Coffee Cooperatives Coagriscal and Coprocael of Honduras, Microfinance Institution Centro de Apoyo al Microempresario (CAME) of Mexico”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-of-switzerland-makes-debt-investments-worth-4m-in-coffee-cooperatives-coagriscal-and-coprocael-of-honduras-microfinance-institution-centro-de-ap/
MicroCapital.org February 25, 2011, “responsAbility Social Investments Loans Total of $5.8m to Banco Solidaro of Ecuador, Fundacion de Apoyo Comunitario y Social del Ecuador (FACES) of Ecuador, Edpyme Alternativa of Peru, Apoyo Integral of El Salvador”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-loans-total-of-5-8m-to-banco-solidaro-of-ecuador-fundacion-de-apoyo-comunitario-y-social-del-ecuador-faces-of-ecuador-edpyme-alternativa-of/
MicroCapital.org Article, January 10, 2011, “Social Investments of Switzerland Makes Loans Totaling $13m to Banco Continental of Paraguay, Financiera Confianza of Peru”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-of-switzerland-makes-loans-totaling-13m-to-banco-continental-of-paraguay-financiera-confianza-of-peru/
MicroCapital.org Article, December 28, 2010, “Fundacion Microfinanzas BBVA Acquires Microfinance Institution (MFI) Financiera Confianza of Peru”, https://www.microcapital.org/microcapital-brief-fundacion-microfinanzas-bbva-acquires-microfinance-institution-mfi-financiera-confianza-of-peru/
MicroCapital.org Article, December 2, 2010, “As Microfinance in Peru Continues to Grow, BBVA Continental to Acquire Financiera Confianza”, https://www.microcapital.org/microcapital-brief-as-microfinance-in-peru-continues-to-grow-bbva-continental-to-acquire-financiera-confianza/
MicroCapital’s Microfinance Universe: responsAbility Social Investments AG, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility
MicroCapital’s Microfinance Universe: responsAbility Global Microfinance Fund (rAGMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29
MicroCapital’s Microfinance Universe: responsAbility Mikrofinanz-Fonds, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds
MicroCapital’s Microfinance Universe: Financiera Confianza, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Financiera+Confianza
MicroCapital’s Microfinance Universe: Naranjillo, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Naranjillo
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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