LUMINIS – an investor information service for microfinance
The Luxembourg Government has launched a joint venture with MicroRate, the US based microfinance rating agency, and LuxFLAG, the Luxembourg based fund labeling agency, to produce a new service for microfinance investors. Launched on 12 May 2010, LUMINIS Microfinance (LUMINIS) will provide critical information on Microfinance Investment Vehicles (MIVs) in order to facilitate investment in microfinance and growth of the sector as a whole.
Building on its many years of experience in the industry, MicroRate will manage and direct the new investor information service, assisted by LuxFLAG and the Luxembourg Government.
The goal of LUMINIS is to create widespread transparency in the universe of MIVs. For the first time, critical performance data will be collected, analysed and disseminated throughout the industry via a web-based platform. The data and accompanying analyses will allow investors to compare MIVs, analyse performance and trends and ultimately make informed investment decisions.
Sebastian von Stauffenberg, MicroRate’s Managing Director and CEO, said “Transparency, critical analysis and fund comparison data are all vital components to establishing microfinance as a truly recognised asset class and to help ensure the successful, long-term growth of this sustainable poverty-fighting sector”.
“This new project represents a clear step forward for the microfinance industry, whose stakeholders have long been demanding clearer and more reliable industry information,” said Daniel Dax, General Manager of LuxFLAG. “Through the service agreement with MicroRate, LuxFLAG will capitalise on LUMINIS’ data collection and analysis, increase its visibility and attract foreign-domiciled MIVs to apply for the LuxFLAG microfinance fund label. In addition, LUMINIS will be able to provide LuxFLAG with comprehensive and up-to-date information on labeled MIVs”.
LUMINIS reinforces Luxembourg’s position as a leading hub for MIVs and a centre of excellence in the microfinance sector.
Kenneth Hay, Chairman of LuxFLAG and Sebastien von Stauffenberg CEO of Microrate, signing the agreement. Copyright: Martine May, Tageblatt.