Summary – Fund Performance
This report covers the period from January 1, 2022, to December 31, 2022. The GLS Alternative Investments – Microfinance Fund (“subfund”) was launched on December 15, 2015, with a total volume of EUR 21.2 million. As of year-end 2022, the total fund assets amounted to EUR 243.3 million. As of this date, private investors (Class A) had invested EUR 154.6 million and large investors (Class B) EUR 57.2 million.
The third tranche amounts to EUR 31.5 million as of the reporting date. As of December 31, 2022, EUR 201.0 million was invested in interest-bearing microfinancial assets (82.6 % of net fund assets).
Overall, the investment allocation remains well diversified. At the end of fiscal year 2022, the subfund was invested in 67 microfinancial institutions (MFIs) in 37 countries, compared with 71 MFIs from 37 countries at the end of 2021. The average outstanding loan size remained at EUR 1.5 million, with an average remaining maturity of approximately 1.45 years. The average loan size has remained almost constant compared to the previous year, however, the loan size to net fund assets ratio remains clearly below 1 % and has marginally decreased in 2022. In perspective, the absolute loan size is expected to continue to increase slightly in line with growing fund assets.
67 Institutions around the world
- Africa
- Africa (indirect via Holdings)
- Latin America (LAC)
- Europe
- Asia
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Please note: All data presented here, including loan volume and portfolio composition, is based on the respective annual reports. These reports are publicly available.