Responsible Investment Conference organized by alfi

LMDF cited as a positive example by the Minister of Finance, Mr Luc Frieden


LMDF is proud to announce that during the opening speech of the Conference for Responsible Investment organized by ALFI, the Minister of Finance, Mr Luc Frieden, mentioned the growth of the Luxembourg Microfinance and Development Fund as a positive example of what is happening in Luxembourg.

   

LMDF receives the LuxFLAG Microfinance Label

LuxFlag

The fund is pleased to announce that LuxFLAG granted for the third time the  LuxFLAG Microfinance Lable to LMDF.
This label is attributed by an independent structure certifying that LMDF fulfills its mandate by investing the majority of its portfolio in microfinance.

   

The year 2012 / 2013

Closing the books - result of the year 2012/2013

LMDF closed its accounts end of March 2013. The year 2012/2013 was marked by a strong increase in activities and the evolution of the unique model of the Luxembourg microfinance fund.

During the ended year, LMDF increased its network of partners by adding:

ProMujer Argentina, a foundation focused on the development of women active in the area of Salta in North of the country;

CrediFlorida, a financial cooperative of coffee farmers in Peru;

AMC from the Eastern El Salvador, with 14,000 customers and assets of € 18 million one of the "larger" institutions in our portfolio;

PanaPana, a microfinance institution active in the Caribbean region of Nicaragua, one of the poorest areas of the country.

All these partners were selected after a thorough evaluation of their social performance and financial sustainability.

With the total funding of the existing partners, LMDF was able to increase the volume of investment by 50% and pass the milestone of EUR 10 million in investments. In terms of innovation, the fund has granted a second subordinated loan to the MFI Fundación Alternativa and issued a first guarantee in favor of the MFI Microfin in Uruguay.

This dynamic evolution of the portfolio has contributed to a return approaching our benchmark. Class B shares saw their NAV per share increased by 2.2% during the year and the Class C shares by 1.1%.