The Luxembourg State and the NGO ADA
The NGO ADA and the Luxembourg State have a strong presence in the Fund and have been the driving forces behind its creation. Their investment in Class A shares and Class Abis shares, shares which cannot be redeemed ensure a presence in the Fund’s governance and safe-keep its social mission.
ADA is a Luxembourg non-for-profit organization, and a leading organization in the microfinance sector and the Luxembourg State involved in the fund is represented through the Ministry of Finance and the Ministry of Foreign and European Affairs.
Strong involvement of the financial sector
LMDF has from the start in 2009 been supported by a range of important actors of the financial sector. The Fund counts the BIL, BGL BNP Paribas, Spuerkess, Banque de Luxembourg, CBP Quilvest, Banque Fortuna, Le Foyer and La Luxembourgeoise among its founding shareholders.
Beyond the financial commitments partner banks are active in the governance of the Fund ensuring that investment decisions, risk management and compliance is executed diligently.
Luxembourg citizens and civil society
Civil society has a prominent place in the Fund with ADA being a founding shareholder and key partner. ETIKA and SOS Faim are other organizations which have decided to invest in LMDF to support its investment philosophy.
The risk protection mechanism put in place allows less knowledgeable investors to invest in microfinance. This opens the door for many Luxembourgish citizens who have invested in LMDF because they identify with our vision and mission.