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Incofin

PRI reporting framework 2017

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Basic Information

OO 01. Signatory category and services

01.1. Select the services you offer.

% of assets under management (AUM) in ranges

01.2. Additional information. [Optional]

 

 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Belgium

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

50 FTE

02.4. Additional information. [Optional]


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2016

04.2. Indicate your total AUM at the end of your reporting year, excluding subsidiaries you have chosen not to report on.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Additional information. [Optional]

Incofin Investment Management manages a total of 830M USD of assets split in ten funds which include: 

- Three retail funds - Incofin cvso, Invest in Visions and the BRS Microfinance Coop fund. Incofin cvso is a Belgian cooperative which invests in sustainable microfinance institutions in developing countries that offer financial services adapted to small local enterprises and want to add value on a social level. Incofin cvso supports MFIs that offer financial services to small entrepreneurs to develop their own business and to improve their living circumstances.IIV is a German retail bank which Incofin started advising in 2015.  BRS Microfinance Coop is a Belgian retail fund developed in partnership with BRS and KBC bank and for which Incofin is the Investment Advisor.

- Two managed accounts: i) VDK MFI Loan Portfolio was founded as an investment portfolio belonging to the Belgian VDK Spaarbank. With Incofin IM as fund manager, it grants loans to large and well-developed MFIs; ii) Volksvermogen is a fund belonging to a Belgian investment company of the same name. It uses its own investment portfolio to support microfinance institutions and SMEs in developing countries. The fund offers loans as well as equity investments.

- Six institutional funds; i) The Impulse Microfinance Investment Fund supports microfinance institutions at a later stage. It uses investments of the European financial sector, private companies and individuals to provide loans and equity investments to these MFIs. Some investors of this fund are KBC Private Equity, VDK Spaarbank, Ethias, BIO, Volksvermogen, ACV Voeding en Diensten, Pax-Bank, ACV-CSC Metea, Bank im Bistum Essen and Bank für Kirche und Caritas; ii) Rural Impulse Fund (RIF I) is a Luxembourg-based investment fund for rural microfinancing. It invests in financial institutions that serve low-income entrepreneurs in rural areas through loans and equity investments. Some of the main investors are BIO, EIB, FMO, IFC and KBC Private Equity; iii) Rural Impulse Fund II (RIF II) is the successor of RIF I and also invests in microfinance institutions.  The fund is a leveraged private equity fund that has made 20 equity investments and already achieved a successful track-record of exits. These commercial MFIs offer financial services in disadvantaged rural areas. The investors of this fund are development banks (IFC, EIB, KfW, BIO, FMO, PROPARCO and NMI), financial institutions (Storebrand, BNP Paribas Fortis, Bank für Kirche und Caritas, VDK Spaarbank, Vinis-Die Erste Sparinvest, Microfinanza and Volksvermogen) and Belgian trade union ACV-CSC Metea; iv) The Fairtrade Access Fund provides farmers' cooperatives and associations the long-term loans they need to renew their farms or adopt new technologies and equipment. The Fund was launched in 2012 under the management of Incofin Investment Management by the fund sponsors Incofin cvso, Fairtrade International and Grameen Foundation. The fund began operations in Latin America and has expanded into  Africa; v) Fonds pour l'inclusion financière (FPM) a Congolese apex fund serving MFIs and banks targeting SMEs in the DRC.  The fund was founded by KfW, BIO and Cordaid in 2015; vi) in 2015, Incofin succesfully completed the fourth closing of a new fund called AgRIF. agRIF will invest in financial intermediaries in emerging economies (Africa, Asia, LAC Region, CEE-NIS), that enhance financial inclusion of smallholder farmers and rural micro-, small and medium sized entrepreneurs (MSMEs) in the agricultural value chain. agRIF is a 10 year closed-ended mixed fund, that will make equity and debt investments.


OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. How you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income >50% 85 0 0
Private equity 10-50% 15 0 0
Property 0 0 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish our asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

 

 

Developed Markets

 

 

Emerging, Frontier and Other Markets

Total
100%

09.2. Additional information. [Optional]

Incofin IM invests in emerging markets. It currently is invested in 48 countries around the world including frontier markets such as Congo, Timor Leste, and Haiti. 


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