Summary – Fund Performance
The GLS Alternative Investments – Microfinance Fund (“Fund”) was launched on December 15, 2015 with a total volume of EUR 21.2 million launched. The Fund volume has increased over 111.7 Million EUR (end of 2018) as well as 165.2 Million EUR (end of 2019) to 181.67 million EUR as of 30. June 2020. As of this date, investors in share class A held EUR 112.16 million in shares and in share class B with EUR 47.47 million. The volume of share class C amounts to 22.04 million EUR. As of 30. June 2020, 142.5 million EUR was invested in interestbearing microfinance investments (78.4 % of net fund assets)
The diversification of the portfolio increased further. At the end of the reporting period, the fund was invested in 71 microfinance institutions (MFIs) in 35 countries-compared with 68 MFIs in 35 countries at the end of 2019. The average outstanding loan amount was EUR 1.3 million, with an average unweighted remaining maturity of 1.6 years. 38.6 % of microfinance assets were denominated in the fund’s currency, the euro. Foreign currency loans were denominated in U.S. dollars (47.4 %), Mexican peso (5.6 %), Kazakh tenge (4.14 %), South African rand (2.37 %), Indian rupees (1.19 %), Tajik Suomi (0.57 %), and Honduran Lempira (0.62 %).
71 Institutions around the world
- Africa (indirect via Holdings)
- Latin America (LAC)