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responsAbility Lends to Microfinance Institution in Kyrgyz Republic

Monday 27 February 2012

Switzerland’s responsAbility Social Investments AG (responsAbility) recently reported that funds it manages have disbursed loans to the Kyrgyz Republic’s Kompanion which received US $750,000 from both rAMF and rAGMF, for a total of $1.5 million.

Kompanion Financial Group was established in Kyrgyzstan in 2004 through the consolidation of five microcredit agencies affiliated with Mercy Corps, an economic development and aid organization based in the United States. As of December 31, 2010, Kompanion reports to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of $50 million, a gross loan portfolio of $30 million, return on assets (ROA) of 4.78%, return on equity (ROE) of 20.82% and 119,000 active borrowers.

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 US $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.

The responsAbility Global Microfinance Fund (rAGMF) is a microfinance investment vehicle (MIV) managed by responsAbility Social Investments that invests in microfinance institutions (MFIs) and other MIVs, mostly through short- to medium-term debt securities. rAGMF also invests up to 10% 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 $532 million in 2011.

responsAbility Mikrofinanz-Fonds (rAMF) 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 $141 million in 2011.

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