Two additional Microfinance Investment Vehicles obtain LuxFLAG Microfinance Label

Dec 2011
Luxembourg, December, 15 2011 - LuxFLAG is pleased to announce that two new microfinance investment vehicles have been granted the LuxFLAG Microfinance Label. These are the Azure Global Microfinance Fund SICAV‐SIF and responsAbility SICAV (Lux) Financial Inclusion Fund.

The LuxFLAG Microfinance Label assists capital raising by microfinance funds by reassuring investors that the microfinance investment vehicles really invests the majority of its assets in the microfinance sector in a responsible manner.

Altogether, in 2011 LuxFLAG granted 9 new Microfinance Labels and renewed 13 Microfinance Labels. The number of MIVs labelled by LuxFLAG has grown substantially from the beginning of 2010 from 8 MIVs to 22 MIVs, and they now represent approximately USD 3.35 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.


  • Dexia Micro-Credit Fund- Blue Orchard Debt sub-fund
  • Dual Return Fund-Vision Microfinance
  • Dual Return Fund - Vision Microfinance Local Currency
  • Luxembourg Microfinance and Development Fund – Social Venture Capital sub-fund
  • responsAbility Global Microfinance Fund
  • responsAbility SICAV (Lux) –Mikrofinanz-Fonds
  • responsAbility SICAV (Lux) – Microfinance Leaders
  • Triodos SICAV II – Triodos Microfinance Fund
  • Wallberg Global Microfinance Fund


  • Azure Global Microfinance Fund SICAV- SIF (New Label)
  • Etimos Fund – Global Microfinance Debt
  • KCD Mikrofinanzfonds (FIS)-I
  • KCD Mikrofinanzfonds (FIS)-II
  • Microfinance Enhancement Facility SA, SICAV-SIF
  • responsAbility SICAV (Lux) Financial Inclusion Fund (New Label)
  • Regional MSME Investment Fund for Sub-Saharan Africa SA SICAV-SIF
  • Rural Impulse Fund S.A. SICAV-FIS
  • Rural Impulse Fund II S.A. SICAV-SIF
  • Selectum SICAV SIF - BL Microfinance
  • The European Fund for Southeast Europe SA, SICAV-SIF


  • Advans SA
  • Finethic Microfinance SCA


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