ResponsAbility Microfinance Fund opens year with positive return

By Matthew Fuchs

Microfinance Focus, Feb 19, 2010: The ResponsAbility Global Microfinance Fund has begun the year with a return of 0.18% in January 2010 for the USD share class, according to the fund’s monthly report. It also said that despite seasonal weak demand for debt, the fund made some small investments across five countries. Further details of the investments were not provided.

Valuations for investments in Nicaragua remained unchanged, while provisions were made against positions in Bosnia due to deterioration in the quality of MFI portfolios, according to the report. However, MFI demand for debt was expected to pick up slightingly in the coming weeks, particularly in the Latin America and Central Asian regions, it added.

The fund’s total assets at the end of January totaled $477.24 million, with an NAV of 128.76 per share for the USD denominated class. The fund is managed by ResponsAbility Social Investments AG, based in Zürich, Switzerland.

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