Absolute Portfolio Management Invests $8.5m in Microfinance Institutions in Cambodia, Costa Rica, Ecuador, Peru
Wednesday, January 14, 2015
Absolute Portfolio Management (APM), an arm of Austria-based asset management group C-Quadrat, recently informed MicroCapital that it disbursed credits totaling the approximate equivalent of USD 8.5 million from its two Vision Microfinance funds, the Dual Return Fund-Vision Microfinance and the Dual Return Fund-Vision Microfinance Local Currency, to unspecified microfinance institutions (MFIs) in Cambodia, Costa Rica, Ecuador and Peru.
Of the total, USD 1 million was disbursed to an MFI that was founded in 1996 in the Costa Rican capital, San Jose. The MFI dedicates a portion of its yearly income to provide benefits to its members such as elderly programs, financial training, medical assistance and scholarships. The MFI also regularly informs its members about internal developments in an effort to maintain a high level of transparency.
As of June 2014, APM reports total assets of USD 323 million under management. As of February 25, 2014, Dual Return Fund-Vision Microfinance Local Currency reports total assets of USD 49.5 million. As of September 2014, The Dual Return Fund-Vision Microfinance has total assets of USD 270.3 million.