Triodos Microfinance Fund Successfully Launched with EUR 22 Million First Close

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Mar 2009
Zeist, the Netherlands, March, 06 2009 - Triodos Bank announces the launch of the Triodos Microfinance Fund. The new fund aims to increase access to financial services for the working poor in developing countries and is expected to grow from its first close of EUR 22 million to EUR 100 million by the end of the year as new investors participate.

Through the management of three specialised microfinance investment funds, Triodos Bank has been a pioneering provider of capital to the microfinance sector since 1994. The Triodos Microfinance Fund builds on this 15-year track record in financing well over 100 microfinance institutions across 38 developing countries and will boost the Triodos funds under management in microfinance to EUR 185 million. 

Marilou van Golstein Brouwers, managing director Triodos Investment Management: ‘Our banking expertise and social mission make us a strong and preferred financial partner for microfinance institutions worldwide. Triodos Microfinance Fund will meet the need for new capital from our existing microfinance partners as well as new partners.’

The fund is open for institutional investors across Europe and a launch to individual investors is planned shortly. Anchor participants in the first closing include Netherlands-based insurance company Achmea, CCLA, the largest fund manager for charities in the UK, and UK-based The Waterloo Foundation. Aviva Investors and independent asset manager, Cazenove Capital Management also participated. 

Achmea insurance company: ‘Achmea is proud to take the next step in its Social Responsible Investment policy together with Triodos. This commitment further strengthens Achmea's ambition to play a role in the micro insurance space, being one of the new developments in micro finance services.’

James Bevan, chief investment officer at CCLA, said: ‘On behalf of its investors, CCLA is participating in an opportunity that looks to offer a combination of excellent long term financial returns, strong, persistent diversification advantages in combination with more traditional assets and strategies, and also significant social and environmental benefits.’

The Triodos Microfinance Fund is a sub-fund of Triodos SICAV II, an investment fund based in Luxemburg, and is not quoted on the stock market. The Triodos Microfinance Fund is open-ended in structure and is traded on a monthly basis, at net asset value.

Investment Manager: Triodos Investment Management BV

Triodos Investment Management BV is responsible for managing different Dutch and international funds that invest in both developing countries and Europe. Investment sectors include microfinance, sustainable trade, renewable energy, sustainable real estate and culture. Total assets under management amount to EUR 1.2 billion. Triodos Investment Management is a 100% subsidiary of Triodos Bank, a fully licensed independent bank with branch offices in The Netherlands, Belgium, United Kingdom and Spain. The bank is a pioneering force in the world of sustainable and transparent banking.

Source : Triodos
 

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