NMI Global Fund invests in Triodos Microfinance Fund
08-07-2010 | NMI Global Fund today announced an investment of EUR 4 million in Triodos Microfinance Fund, a fund that aims to increase access to financial services for the working poor in developing countries. The investment will further boost the fund’s portfolio that currently consists of debt and equity investments in 16 microfinance institutions (MFIs) across 11 countries in Latin America, Africa and Asia.
Triodos Microfinance Fund is managed by Triodos Investment Management, a leading investor in the microfinance sector since making its first investments in MFIs in 1994. As an investor in microfinance, Triodos Investment Management seeks to contribute towards the development of a sustainable financial sector in developing countries, based on four pillars of fair pricing, transparency, poverty alleviation and care for the earth.
Richard Weingarten, Managing Director of NMI, stated: " We are pleased to make this investment in Triodos Microfinance Fund. Triodos Investment Management has a long and strong track record as a socially responsible investor investing in microfinance. It is important to NMI that our Fund Managers (and their portfolio MFIs) regularly measure and report on the social and development impact of their activities. We believe that Triodos demonstrates best industry practices in this area, and we are thus well-aligned with this investment."
Femke Bos, Triodos Microfinance Fund’s Fund Manager said: "We are delighted to welcome NMI among our institutional investors. Triodos Investment Management and NMI share a commitment to building robust, inclusive financial sectors that are in the long-term interests of microfinance institutions and the individuals they serve. With NMI Global Fund’s investment we will broaden and deepen the impact of our work."
About NMI
The Norwegian Microfinance Initiative (NMI) is a new and innovative strategic partnership between the Norwegian public and private sectors that will invest in microfinance institutions (MFIs) in developing countries and provide professional assistance and technical support for these institutions. The mission of NMI is to contribute to the empowerment of poor people and to the creation of jobs, wealth, and economic and social sustainability in developing countries by investing in and supporting MFIs. At June 30, 2010, the NMI Global Fund has committed USD 34 million to 6 microfinance investment funds.
About Triodos SICAV II - Triodos Microfinance Fund
Triodos SICAV II - Triodos Microfinance Fund was launched in March 2009 and is open to institutional investors and private banking clients across Europe. Triodos Microfinance Fund’s total assets at 30 June 2010 were EUR 46.3 million, of which 90% invested. Triodos Microfinance Fund is a sub-fund of Triodos SICAV II, an investment fund based in Luxemburg, and is not quoted on the stock market. Triodos Microfinance Fund has an open-ended structure and is traded on a monthly basis, at net asset value.
About the investment manager: Triodos Investment Management BV
Triodos Investment Management BV is responsible for managing a number of internationally operating funds that invest in Europe and developing countries. These funds allow individuals and institutions to invest directly in sustainable sectors, including microfinance, sustainable real estate, renewable energy, sustainable trade, organic agriculture and cultural projects. Total assets under management were EUR 1.6 billion at year-end 2009, of which EUR 237 million in microfinance. Triodos Investment Management is a 100% subsidiary of Triodos Bank, a fully licensed independent bank with branch offices in The Netherlands, Belgium, United Kingdom, Spain and Germany. The bank is a pioneering force in the world of sustainable and transparent banking.