[MicroCapital.org]
responsAbility Social Investments AG, a Swiss for-profit company that operates four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has invested USD 13.5 million in microfinance institutions (MFIs) Equity Bank of Kenya and VisionFund Cambodia. The investments have been made through three MIVs: the responsAbility Global Microfinance Fund (rAGMF), which makes short- and medium-term investments in MFIs and MIVs; the responsAbility Microfinance Leaders Fund (rAMLF), which primarily invests in large MFIs; and the responsAbility Mikrofinanz-Fonds, which provides debt financing to MFIs.
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VisionFund Cambodia, an MFI that is a member of the VisionFund International network, borrowed USD 700,000 from rAGMF and USD 300,000 from rAMLF. As of December 31, 2010, VisionFund Cambodia reported to MIX total assets of USD 36.6 million, a gross loan portfolio of USD 30 million, ROA of 2.81 percent, ROE of 10.9 percent and 108,000 active borrowers. As of 2010, VisionFund supported 40 affiliate MFIs which reported total assets of USD 418 million, a gross loan portfolio of USD 341 million and approximately 638,000 active borrowers.
As of September 2011, responsAbility reported total assets under management of approximately USD 1 billion.
About VisionFund Cambodia:
VisionFund Cambodia is a microfinance institution (MFI) that provides credit and savings services. VisionFund Cambodia is a subsidiary of VisionFund International, which handles microfinance activities in 40 countries for World Vision, a Christian relief organization based in the US. As of December 31, 2010, VisionFund Cambodia reported to the US-based Microfinance Information Exchange (MIX), total assets of USD 36.6 million, a gross loan portfolio of USD 30 million, return on assets (ROA) of 2.81 percent, return on equity (ROE) of 10.9 percent and 108,000 active borrowers.
About VisionFund International:
VisionFund International was created in 2003 as a wholly owned subsidiary of World Vision with the purpose of managing its microfinance institutions (MFIs). As of 2010, VisionFund supported 40 affiliate MFIs who reported total assets of USD 418 million, a gross loan portfolio of USD 341 million and approximately 638,000 active borrowers. VisionFund fully owns five MFIs: VisionFund CREDO of Georgia; AgroInvest of Serbia; AgroInvest of Montenegro; Azercredit of Azerbaijan; and VisionFund Cambodia.
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. 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 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). 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. Mikrofinanz-Fonds reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 141 million in 2011.
About responsAbility Global Microfinance Fund (rAGMF):
The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility 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 responsAbility Microfinance Leaders Fund (rAMLF):
The responsAbility Microfinance Leaders Fund (rAMLF) invests in large microfinance institutions (MFIs) through debt securities and equity investments. 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. rAMLF reported to the US-based nonprofit Microfinance Information Exchange (MIX) fund assets of USD 155 million in 2011.
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