Four new Microfinance Investment Vehicles obtain the LuxFLAG Microfinance Label

Oct 2011
Luxembourg, Luxembourg, October, 05 2011 - LuxFLAG is pleased to announce that 4 new Microfinance Investment Vehicles (MIVs) have been granted the LuxFLAG Microfinance Label: 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.

All in all, in 2011 LuxFLAG has granted 7 new Microfinance Labels and renewed of 13 Microfinance Labels. The number of MIVs labelled by LuxFLAG has grown substantially from the beginning of 2010 from 8 MIVs to 20 MIVs, and they 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:




Dexia Micro-Credit Fund

Rural Impulse Fund SA


Advans SA

Dual Return – Vision


KCD Mikrofinanzfonds (SIF) –

I “Global”

Finethic Microfinance SCA

responsAbility Global

Microfinance Fund

KCD Mikrofinanzfonds (SIF) –

II “Latin America”


responsAbility SICAV (Lux) – Microfinance Leaders

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


responsibility SICAV (Lux) – Microfinance-Fonds

Regional MSME Investment

Fund for Sub-Saharan Africa



Wallberg Global Microfinance Fund

Rural Impulse Fund II SA



Triodos SICAV II – Triodos Microfinance Fund

Microfinance Enhancement

Facility S.A., SICAV-SIF (New



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



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.


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