Dexia Fund posts positive result in Jan 2010: BlueOrchard

By Matthew Fuchs

Microfinance Focus, Feb 19, 2010: The Dexia Micro-Credit Fund (DMCF), managed by BlueOrchard, has begun the year with a positive result, posting a return of 0.12% in January. According to the fund’s monthly report, it made four new investments in South, East and Central Asia totaling $7.4 million.

There continued to be a “strong divergence in the performance of MFIs on a regional basis” with many regions appearing to come out of recession while MFIs in other regions, notably Eastern Europe and Central America, are still coming under considerable pressure, the report said.

The fund also participated in the restructuring in the obligations of one Nicaraguan MFI, but as provisions had already been made against the position it did not impact on fund performance, BlueOrchard said.

The DMCF’s NAV is $513 million, with microfinance loan portfolio totaling $383 million.

BlueOrchard is based in Geneva, Switzerland.

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