LMDF changes its Prospectus to prepare for growth
New Prospectus has become effective in May 2014
The Board of Directors of LMDF approved several changes to the Prospectus to take into account:
• Changes to the regulatory environment (AIFMD, FATCA, anti-money laundering);
• An update of the microfinance and financial inclusion context in which the Fund operates;
• An expanded board composition;
• A clearer definition of the Fund’s focus on promising MFIs;
• Its focus on debt as the primary investment instrument;
• Increased diversification limits to reflect the growth in portfolio of the Fund and ensure appropriate risk mitigation;
• No use of debt to finance investments;
• A reduction in the allowable fees to management and advisors to 3% of NAV;
• Updates to the investment identification and monitoring and the role and responsibilities of management.
The CSSF verbally approved the changes to the Prospectus which come into effect in May 2014.
The Fund’s management remains at your disposal for any question you may have on these changes (by phone +352 27 47 35 or email email@example.com).