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      LuxFLAG labels 4 new Microfinance Funds

      LuxFLAG labels 4 new Microfinance Funds

      The Luxembourg Fund Labelling Agency LuxFLAG has granted the LuxFLAG Microfinance Label to 4 new Microfinance Investment Vehicles (MIVs): the Microfinance Enhancement Facility S.A.SICAV-SIF, Selectum SICAV SIF - BL Microfinance, Etimos Fund SICAV-SIF and Dual Return Fund SICAV- SIF Vision Microfinance Local Currency. Further to this, 6 MIVs choose to renew their LuxFLAG Microfinance Label.

      The Luxembourg Fund Labelling Agency LuxFLAG has granted the LuxFLAG Microfinance Label to 4 new Microfinance Investment Vehicles (MIVs): the Microfinance Enhancement Facility S.A.SICAV-SIF, Selectum SICAV SIF - BL Microfinance, Etimos Fund SICAV-SIF and Dual Return Fund SICAV- SIF Vision Microfinance Local Currency. Further to this, 6 MIVs choose to renew their LuxFLAG Microfinance Label.

      The purpose of the LuxFLAG Microfinance Label is to promote the raising of capital in microfinance by reassuring investors that the MIV really invests directly or indirectly in microfinance.  The label is not a guarantee of performance nor does it constitute a recommendation to invest.

      Applicant MIVs may be either domiciled in Luxembourg or in any other jurisdiction that has supervision of the MIV or its custodian and fund manager equivalent to supervision in the EU Member States.

      All in all, LuxFLAG has granted 7 new Microfinance Labels and renewed of 13 Microfinance Labels in 2011. LuxFLAG reports that the number of MIVs labelled by the agency has grown substantially from 8 at the beginning of 2010 to 20 in September 2011. Together, these MIVs now represent approximately USD 2.90 billion in assets under management. This confirms the continuing interest in the LuxFLAG Microfinance Label and reinforces its importance in terms of providing greater transparency to investors. LuxFLAG expects further MIVs to apply for the LuxFLAG Microfinance Label by the end of 2011.

      List of MIVs labelled as of Sept 2011 classified by legal structure:

      UCI Part II

      SIF

      SICAR

      Dexia Micro-Credit Fund

      Rural Impulse Fund SA
      SICAV-SIF

      Advans SA

      Dual Return – Vision Microfinance

      KCD Mikrofinanzfonds (SIF) - I "Global"

      Finethic Microfinance SCA

      responsAbility GlobalMicrofinance Fund

      KCD Mikrofinanzfonds (SIF) - II "Latin America"

       

      responsAbility SICAV (Lux) – Microfinance Leaders

      European Fund for Southeast Europe (EFSE), SICAV-SIF

       

      responsAbility SICAV (Lux) – Mikrofinanz-Fonds

      Regional MSME Investment Fund for Sub-Saharan Africa SA SICAV-SIF

       

      Wallberg Global Microfinance Fund

      Rural Impulse Fund II SA SICAV-

       

      Triodos SICAV II – Triodos Microfinance Fund

      Microfinance Enhancement Facility S.A., SICAV-SIF (New Label)

       

      Luxembourg Microfinance and Development Fund SICAV

      Selectum SICAV SIF - BL Microfinance (New Label)

       

      Dual Return Fund (SICAV) -
      Vision Microfinance Local
      Currency SIF (New Label)

      Etimos Fund SICAV-SIF(New Label)

       

      Details of the twenty labelled MIVs are available on LuxFLAG’s website: www.luxflag.org.  The website also contains details of the LuxFLAG Microfinance Label eligibility criteria and an application form that can be downloaded by entities wishing to apply for the LuxFLAG Microfinance Label.