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Emerging Markets / Inclusive Finance
A unique track-record as a values-driven investor since 1994
Our Emerging Markets activities are focused on the further development of inclusive financial services as well as pursuing a broader impact investing agenda, particularly in agriculture and renewable energy.
Inclusive financial services
An estimated 2 billion people have no access to formal financial services. They are unable to open a bank account, negotiate a loan to start a business, or buy insurance. Access to these financial services has a fundamental impact on the lives of millions of people. It enables them to build their assets gradually, develop micro, small and medium-sized enterprises, and improve their income earning capacity, to create employment and provide a financial cushion for the future.
As investor we are committed to contribute to the development of an inclusive financial sector in developing countries that provides access to transparent financial services to all. We do this by providing finance, both debt and equity, to banks and microfinance institutions that demonstrate a sustainable approach toward providing financial services to underserved client groups.
Since 1994, our assets under management in inclusive finance have increased to over EUR 850 million, making us one of the leading investors in the industry. At year-end 2016, we provide finance to 100 emerging and well established microfinance institutions and banks in 44 countries in Latin America, Asia, Africa and Eastern Europe. These institutions offer a variety of financial services to underserved client groups, serving 20.2 million loan clients (of whom 83% are women) and 13.7 million savings clients. 41% of clients live in rural areas.
Our impact in sustainable trade and agriculture
With our innovative trade finance loans, we play a key role in building sustainable long-term trading partnerships between agricultural exporters in developing countries and buyers in Europe and the United States. In 2016, over 33 cooperatives and private exporters in 19 countries worldwide are paid directly upon delivery of their harvest through our trade-finance facilities, bringing 12 different fair-trade and organic products to western markets.
A dedicated investment team
Our highly experienced Emerging Markets investment team combines banking experience with a values-driven approach. They perform on-the-ground due diligence and regularly visit the institutions and co-operatives in their portfolios.
|Director of Emerging Markets - Dirk Elsen joined Triodos Investment Management as Director Emerging Markets in January 2012. From 2002 to 2011, he served as Chief Executive of SNV, an international development organisation implementing advisory, advocacy and knowledge brokering work in 36 countries across four continents. Before that, Dirk worked at Shell, the World Bank and ABN AMRO, working as a corporate and operational lawyer on projects in Africa and Asia, structuring trade finance business and serving in various senior relationship management roles.||Dirk Elsen |
Our Emerging Markets funds
We manage two foundations, a retail fund and an institutional fund investing in microfinance institutions and banks. All funds have similar objectives, but different risk profiles and funding structures. This means we can support financial institutions at different stages of development. In addition, Triodos Investment Advisory & Services is a partner of Women’s World Banking Capital Partners, LP, which is an equity fund launched by Women’s World Banking in 2012 with the aim to increase access to finance for women around the world. Our innovative trade finance loans are offered through the Triodos Sustainable Trade Fund.
|Triodos Fair Share Fund||Open-end fund for Dutch individual investors. Established in 2002.||EUR 325 million*||Provides equity and debt to established microfinance institutions and banks.|
|Triodos Sustainable Finance Foundation||Foundation. Follow-on of Triodos-Doen Foundation (established in 1994). Open-end structure. Closed for investors.||EUR 64 million**||Provides equity and debt to smaller and innovative microfinance institutions with renewable energy and sustainable agriculture as additional focus.|
|Triodos Microfinance Fund||Semi-open end fund (SICAV II) for distribution partners and institutional investors. Launched in 2009.||EUR 339 million*||Provides equity and debt to established microfinance institutions and banks.|
|Triodos Sustainable Trade Fund||Foundation. Established in 2008. Closed for investors.||EUR 29 million (total loan amount disbursed in 2016)*||Provides trade finance to organic and fair trade agricultural producers in developing countries.|
|Hivos-Triodos Fund||Foundation. A joint initiative of Hivos and Triodos Bank. Established in 1994. Open-end structure.||EUR 82 million**||Provides debt and equity to microfinance institutions that target underdeveloped markets and women. Also invests in renewable energy and sustainable agriculture.|
|Women's World Banking Capital Partners||Closed-end fund launched by Women's World Banking in 2012.||USD 50 million*||Takes minority equity positions in financial institutions that have a significant focus on women.|
* As per 31 December 2016
** As per 31 December 2015