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LuxFlag renews microfinance investment vehicle labels

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The Luxembourg Fund Labeling Agency, created in July 2006, has renewed the labels delivered in 2008 to six microfinance investment vehicles representing 15 sub-funds. 

The Luxembourg Fund Labeling Agency, created in July 2006, has renewed the labels delivered in 2008 to six microfinance investment vehicles representing 15 sub-funds. 

The first labels were granted on 21 January 2007 to three MIVs domiciled in Luxembourg and managed and distributed by international institutions. Three further MIVs have obtained the label in 2008. All these MIVs have successfully renewed their application both in 2008 and 2009.

The purpose of the label is to promote the raising of capital in microfinance by reassuring investors that the MIV really invests in microfinance. 

The six MIVs are: Dexia Micro-Credit Fund; European Fund for Southeast Europe; esponsAbility Global Microfinance Fund; responsAbility Sicav (Lux) – Microfinance Leaders; responsAbility Sicav (Lux) – Mikrofinanz-Fonds; Dual Return – Vision Microfinance; and Rural Impulse Fund.

In addition to the above funds, a pipeline of new applicants is growing in 2009 as new MIVs are created and take the necessary time to invest their new capital in qualifying microfinance investments.

LuxFlag will be actively approaching MIVs over the months and encouraging fund managers to make contact with the agency. Eligible MIVs may be domiciled in any jurisdiction that has supervision equivalent to that which is available in EU countries.

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