Responsible Investment Management and Advisory Services

ASN Microcredit Fund was established by ASN Bank and Oxfam Novib in 1999. The Fund allows private individuals to invest in financial service providers in developing countries by issuing shares, which can be traded on a daily basis. ASN Microcredit Fund invests in expanding and mature financial service providers in Africa, Asia, Europe and Latin America. As an open-ended fund, the Fund can offer long-term equity and follow-on investments, along with senior and subordinated debt. As of October 2015, ASN Microcredit Fund became the first microfinance investment fund with a listing in Europe. For 2016, the Fund achieved a net return of 2%.

  2015 2016 2017
Assets under management EUR 209M EUR 240M EUR 277M
Invested capital EUR 198M EUR 224M EUR 230M
Number of portfolio companies 87 79 78
Average exposure per portfolio company EUR 2.2M EUR 2.8M EUR 2.9 M
Distribution by currency

EUR 14% USD 48% Local currency 38%

Portfolio outstanding by instrument

Equity 14% Loans 72% Subordinate loans 14%

Geographic distribution of ASN-Novib Microkredietfonds