Geneva (BlueOrchard), 24 July 2008
The Luxembourg Fund Labeling Agency (LuxFLAG) renewed the label delivered in 2007 to the Dexia Micro-Credit Fund.
The Dexia Micro-Credit Fund is the oldest microfinance fund in Luxembourg, with a track record going back to 1998. It is promoted by Dexia Banque International in Luxembourg (BIL) with RBC-Dexia as custodian of the fund and Dexia Asset Management as manager of the fund for liquidities. The microfinance portfolio manager is BlueOrchard Finance S.A., a Geneva based investment manager specialising in microfinance.
The purpose of the LuxFLAG label is to promote the raising of capital in microfinance by reassuring investors that the MIV really invests in microfinance. It is not a guarantee of performance nor does it constitute a recommendation to invest.
In order to obtain the Luxflag Microfinance Label, the investment vehicle must meet a number of criteria, the principal of which are that it must:
·
be subject to supervision by a national regulator;
·
have a microfinance portfolio corresponding to at least 50% of total assets;
·
have at least 25% of its microfinance portfolio invested in MFIs rated by a microfinance rating agency recognised by Luxflag.
The Luxflag Label is intended for MIVs which have a commercial objective; the Label is currently not granted to donor entities.
The Luxembourg Fund Labeling Agency is an independent entity whose Charter Members represent the private sector, the NGO sector and the State of Luxembourg. The Charter Members are the State of the Grand Duchy of Luxembourg; European Investment Fund (EIF - member of the European Investment Bank Group); Luxembourg Bankers’ Association (ABBL) ; Appui au Développement Autonome (ADA) ; Association of the Luxembourg Fund Industry (ALFI); Financial Technology Transfer Agency (ATTF); Luxembourg Stock Exchange.
BlueOrchard Finance S.A.
is a Swiss company based in Geneva whose mission is to manage microfinance investment funds. It helps investors gain access to investment opportunities in the microfinance sector through a diversified range of products and services.
To do so,
BlueOrchard grants loans to leading microfinance institutions who in turn provide micro-credits and other financial services to families and small businesses with no access to regular credit providers.
For enquiries, please contact Antonella Notari Vischer, Head of Corporate Communication,
antonella.notari@blueorchard.com
or tel. +41 22 596 47 67 (during office hours except Friday afternoons).
At LuxFLAG, please contact:
Daniel Dax
or Saskia Ventujol,
daniel.dax@alfi.lu /
saskia.ventujol@luxflag.org ,
tel : +352 22 30 26 – 1. More d
etails are available on LuxFLAG’s website:
www.luxflag.org . This site also contains details of eligibility criteria to obtain a label and a form that can be downloaded by entities wishing to apply for the Label
.
