ASN Microcredit Fund (ANMF), established in 1998 by ASN Bank, invests in expanding and mature financial intermediaries in Africa, Asia, Eastern Europe and Latin America; a semi-open-ended fund that enables private individuals to invest in microfinance institutions by purchasing shares sold by ASN Bank. More
ASN-Novib Microcredit Fund (ANMF) was established by ASN Bank and Oxfam Novib in 1999. ANMF allows private individuals to invest in financial service providers in developing countries by issuing shares, which can be traded on a daily basis. ANMF invests in expanding and mature financial service providers in Africa, Asia, Europe and Latin America. As an open-ended fund, ANMF can offer long-term equity and follow-on investments, along with senior and subordinated debt. As of October 2015, ANMF became the first microfinance investment fund with a listing in Europe. For 2016, ANMF 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 |
EUR 14% USD 48% Local currency 38%
Equity 14% Loans 72% Subordinate loans 14%
