ResponsAbility fund ends on positive note in 2009

By Naagesh Naaraayana

Microfinance Focus, Jan. 20, 2010: ResponsAbility microfinance fund invested a total fo $123 million in 2009 despite the difficult economic environmen, of which $11.1 million was invested in December 2009, said its monthly report.
In December,  the fund placed a total of $11.1 million via numerous small investments in twelve countries, including Kenya and the Philippines.  The fund, which was skeptical about Nicaraguan situation in its earlier reports,  says, “the existing provisions for Nicaragua are deemed to be adequate now that the situation there has stabilized, and the valuation of outstanding financings was adjusted only marginally.”  The valuation of only one private equity investment was raised, it added.
The fund was able to reach $489 million in 2009, with the number of microfinance investments at 13. It has recorded a net asset value of $128.53 million, with an annural average return of 4.5% since its launch in 2003. In 2009, its return stood at 1.16 per cent.

© 2010, Microfinance News. All rights reserved. 2008-09