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Trends in Microfinance Investment

Trends in Microfinance Investment. Microfinance Club of New York April 12, 2012. Basic definitions. Foreign Investment Flow. MicroRate Vision Promote the flow of funds from capital markets to microfinance by increasing transparency and growth in the global microfinance community.

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Trends in Microfinance Investment

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  1. Trends in Microfinance Investment Microfinance Club of New York April 12, 2012

  2. Basic definitions

  3. Foreign Investment Flow MicroRate Vision Promote the flow of funds from capital markets to microfinance by increasing transparency and growth in the global microfinance community. Investor / capital markets Micro Entrepreneur

  4. MIV Growth(in USD millions)

  5. Foreign Funding of Microfinance Source: CGAP

  6. Regional Distribution of MF Assets

  7. Growth in MIVs

  8. MIV Clients Luminis-listed MIVs MFX counterparties • Accion International* • Advans SA* • Alterfincvba • ASN-Novib Fund • Bamboo Finance* • BlueOrchardFinance SA* • Calvert Social Investment Foundation* • Caspian Adviors* • ConsorzioEtimos* • Deutsche Bank* • Dual Return Funds* • DWM Asset Management* • European Fund for Southeast Europe* • Grassroots Capital* • Gray Ghost Ventures* • Impulse Microfinance Investment Fund • Incofincvso • KCD Mikrofinanzfonds* • Luxembourg Microfinance Development Fund • Locfund • Microvest I, LP • MicroVest Short Duration Fund • MicroVest+ Plus Fund • responsAbility Global Microfinance Fund FCP • responsAbility SICAV - Microfinance Leaders Fund • responsAbility SICAV - Mikro-finanz Fond • Rural Impulse Fund • Rural Impulse Fund II S.A. • Selectum SICAV SIF* • Shorecap* • SNS Institutional Microfinance Fund I • SNS Institutional Microfinance Fund II • Triodos Microfinance Fund • Minlam Microfinance Fund* • TreeTops Capital* • Wallberg Global Microfinance Fund* * MicroRate and MIV are currently in discussions • ASA International • ASN-Novib Fund • Alterfincvba • BancoSolidario S.A. • BlueOrchard Foreign Exchange Fund • BlueOrchard Microfinance Growth Facility • Calvert Social Investment Foundation • Community Needs, LLC • Deutsche Bank Micro Credit Development Fund • Developpement International Desjardins • Dexia Micro-Credit Fund • FEFISOL • FINCA International • FINCA Microfinance Holdings • Gawa Microfinance Fund I • Impulse Microfinance Investment Fund • Incofincvso • LOCFUND • Luxembourg Microfinance Development Fund • MicroCredit Enterprises • Microvest I, LP • MicroVest Short Duration Fund • MicroVest+ Plus Fund • Opportunity International • responsAbility Global Microfinance Fund FCP • responsAbility SICAV - Microfinance Leaders Fund • responsAbility SICAV - Mikro-finanz Fond • responsAbility SICAV - Financial Inclusion Fund • Root Capital • Rural Impulse Fund • Rural Impulse Fund II S.A. • SolidariteInternationale pour le Developpement et l’Investissement • StichtingHivos-TriodosFonds • StichtingTriodos-Doen • Triodos Fair Share Fund • Triodos Microfinance Fund • Unitus Incorporated

  9. MIV Peer Groups Securities type • Other considerations: • Closed vs. open-ended • Leveraged vs. unleveraged MFI maturity

  10. 2010 Key MIV Metrics

  11. MIV metrics • Methodology to track and compare MIVs: PRSM™

  12. MIV Data & Results2011 preliminary findings • Performance • Results still coming in for 2011, but initial indications suggest improvements over 2010 due to increased demand from MFIs (higher asset utilization) and lower cash balances. • Competition from local banks still hindering pricing, especially with the rise of local currency funding, the cost of which eats into the MIV’s margin. • Many MIVs looking outside microfinance to find returns, with much focus on SME finance (pre-export, trade, fair-trade, agriculture, factoring, etc.).

  13. Diversity of MIVs MIV #2 MIV #3 MIV #1

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