ResponsAbility Social Investments, a Swiss microfinance investment manager, has reached four investment deals with three microfinance institutions (MFIs) in central Asia and Jordan.Two loans were disbursed to Kazmicrofinance (KMF), an MFI based in Kazakhstan; and one each was disbursed to affiliates of US-based nonprofit FINCA international in Jordan and Azerbaijan.
ResponsAbility SICAV Mikrofinanz-Fonds (rAMF), a microfinance investment vehicle (MIV) managed by ResponsAbility Social Investments, invested the local-currency equivalent of USD 699,645 in KMF. The Responsibility Global Microfinance Fund (rAGMF), an MIV also managed by ResponsAbility Social Investments, reached investment deals with KMF for the local currency equivalent of USD 2.5 million, FINCA Jordan for USD 500,000 and FINCA Azerbaijan for USD 2.8 million.
As of December 31, 2010, FINCA Azerbaijan reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 135.2 million, a gross loan portfolio of USD 119.2 million, and 121,448 active borrowers. FINCA Jordan reported to MIX that it had total assets of USD 6.8 million, a gross loan portfolio of USD 5.4 million and 11,197 active borrowers in 2010. In the same year, FINCA International served approximately 760,000 clients through its subsidiaries in 21 countries. As of 2010, it had total assets of USD 496 million, with an operating profit of USD 10 million. Also as of 2010, KMF reported total assets of USD 44.3 million, a gross loan portfolio of USD 36.5 million, return on assets (ROA) of 8.09 percent, return on equity (ROE) of 29.1 percent and approximately 30,300 active borrowers.
As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion. rAGMF reported fund assets of USD 532 million, and Mikrofinanz-Fonds reported fund assets of USD 141 million in 2011.
By Brett Cohen, Research Associate
About FINCA Azerbaijan
FINCA Azerbaijan is an arm of FINCA International, a nonprofit microfinance organization that serves approximately 700,000 people through its microfinance subsidiaries in 21 countries. As of December 31, 2010, FINCA Azerbaijan reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 135 million, a gross loan portfolio of USD 119 million, and 121,448 active borrowers.
About FINCA Jordan
FINCA Jordan is an arm of FINCA International, a nonprofit microfinance organization that serves approximately 700,000 people through its microfinance subsidiaries in 21 countries. FINCA Jordan reported to the US-based nonprofit Microfinance Information Exchange (MIX) that it had total assets of USD 6.8 million, a gross loan portfolio of USD 5.4 million and 11,197 active borrowers in 2010.
About FINCA International
Founded in 1984 by Dr John Hatch, a pioneer of the village banking model, the Foundation for International Community Assistance (FINCA) International is a microfinance network based in Washington, DC, that provides financial services to poor families through a network of locally managed institutions. FINCA targets its services to poor women living in the Americas, sub-Saharan Africa and Eurasia. In the 2010 fiscal year, FINCA International served approximately 760,000 clients through its subsidiaries in 21 countries. As of 2010, it had total assets of USD 496 million, with an operating profit of USD 10 million. In December of 2011, FINCA launched a subsidiary, FINCA Microfinance Holdings LLC, with funding from the International Finance Corporation (IFC), KfW Bankengruppe, Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), responsAbility, and Triple Jump.
About Kazmicrofinance
Kazmicrofinance LLC (KMF), which was founded in 1997, is a non-banking financial institution that offers training as well as individual and group loans across Kazakhstan. As of 2010, KMF reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 44.3 million, a gross loan portfolio of USD 36.5 million, return on assets (ROA) of 8.09 percent, return on equity (ROE) of 29.1 percent and approximately 30,300 active borrowers.
About ResponsAbility
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 The responsAbility Global Microfinance Fund (rAGMF)
The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by Switzerland’s 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. As of 2012, the fund holds a microfinance label from 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 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 short- to medium-term income-bearing debt securities of microfinance institutions (MFIs). As of 2012, the fund holds a microfinance label from the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. Mikrofinanz-Fonds reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 141 million in 2011.
Sources and Additional Resources
MicroCapital.org brief, 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-de…
MicroCapital.org story, March 14, 2012, “MICROCAPITAL BRIEF: responsAbility Invests $2m in Jordan’s Middle East Micro Credit Company (MEMCC), Palestine for Credit and Development (FATEN),”
https://www.microcapital.org/microcapital-brief-responsability-invests-2m…
MicroCapital universe Profile: ResponsAbility
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=res…
MicroCapital Universe Profile: ResponsAbility Global Microfinance Fund
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=res…
MicroCapital Universe profile: Mikrofinanz-Fonds https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=res…
MicroCapital Universe Profile: FINCA Azerbaijan
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FIN…
MicroCapital Universe Profile: FINCA Jordan
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FIN…
MicroCapital Universe Profile: FINCA International
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FIN…
MicroCapital Universe Profile: KazMicroFinance
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kaz…
Browse the MicroCapital Universe and add your entry to the wiki athttps://www.microcapital.org/microfinanceuniverse/
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