Absolute Portfolio Management GmbH, an Austrian investment company specializing in microfinance, has reported that its Dual Return Fund, a sub-fund of Vision Microfinance, has loaned USD 6 million to unnamed microfinance institutions (MFIs) in Armenia, Ecuador, Georgia, Mexico and Peru. Vision Microfinance is an investment vehicle founded in 2006 that focuses on microlending in Latin America, Europe and Asia.
Absolute also noted that an unnamed Mexican investee continued to “suffer from poor quality of its assets and cash flow” and would default on a loan of an unspecified amount issued by the Dual Return Fund. This default is reflected in the April valuation. In the month of April, the Dual Return Fund reported annualized microfinance investment portfolio yield of 8 percent, and an investment level of about 80 percent. The Dual Return Fund reports total fund volume of EUR 84.5 million (USD 122 million) with loans issued to 56 MFIs in 24 emerging markets.
By Rick Altieri, Research Associate
About Dual Return Vision Microfinance Fund: The Dual Return Fund is a sub-fund of Vision Microfinance, both of which were created in 2006 to finance microfinance institutions (MFIs). The fund is managed by Absolute Portfolio Management GmbH, an Austrian investment company specializing in microfinance. As of May 2011, The Dual Return Fund reported a total fund volume of EUR 84.5 million (USD 122 million), a fund investment level of 80 percent and loans issued to 56 MFIs in 24 emerging markets. It is certified by LuxFLAG as of 2011.
Sources and Resources:
Vision Microfinance: “VMF Market Commentary April 2011” May 5th, 2011. http://www.visionmicrofinance.com/en/news/overview/
MicroCapital’s Microfinance Universe Profile: Dual Return Vision Microfinance Fund, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=DUAL%20RETURN%20VISION%20MICROFINANCE%20FUND
MicroCapital.org Brief, May 10th 2010, “Vision Microfinance Fund Invests $2m in EcoFuturo of Bolivia”, https://www.microcapital.org/microcapital-brief-vision-microfinance-fund-invests-2m-in-ecofuturo-of-bolivia/
MicroCapital.org Brief, Thursday, September 30, 2010, “Austrian Absolute Portfolio Management to Launch Dual Return Fund – Vision Microfinance Local Currency”,https://www.microcapital.org/microcapital-brief-austrian-absolute-portfolio-management-to-launch-dual-return-fund-vision-microfinance-local-currency/
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