The GLS Alternative Investments – Microfinance Fund (“Fund”) was launched on December 15, 2015 with a total volume of EUR 21.2 million launched. The Fund volume has increased over 111.7 Million EUR (end of 2018) as well as 165.2 Million EUR (end of 2019) to 181.67 million EUR as of 30. June 2020. As of this date, investors in share class A held EUR 112.16 million in shares and in share class B with EUR 47.47 million. The volume of share class C amounts to 22.04 million EUR. As of 30. June 2020, 142.5 million EUR was invested in interestbearing microfinance investments (78.4 % of net fund assets)
The diversification of the portfolio increased further. At the end of the reporting period, the fund was invested in 71 microfinance institutions (MFIs) in 35 countries-compared with 68 MFIs in 35 countries at the end of 2019. The average outstanding loan amount was EUR 1.3 million, with an average unweighted remaining maturity of 1.6 years. 38.6 % of microfinance assets were denominated in the fund’s currency, the euro. Foreign currency loans were denominated in U.S. dollars (47.4 %), Mexican peso (5.6 %), Kazakh tenge (4.14 %), South African rand (2.37 %), Indian rupees (1.19 %), Tajik Suomi (0.57 %), and Honduran Lempira (0.62 %).
Please note: All data presented here, including loan volume and portfolio composition, is based on the respective annual and / or monthly reports, which are publicly available.
This marketing communication is for informational purposes only and does not constitute an investment recommendation or advice or an offer to buy or sell fund units.
It is explicitly not directed at natural persons or legal entities whose place of residence or business is subject to a foreign jurisdiction that imposes restrictions on the dissemination of such information, in particular not for US citizens or persons domiciled or permanently resident in the USA.
The only basis for the purchase of fund units are the Key Information Document (KID), the current sales prospectus and the most recently published and audited semi-annual and annual report. A current version of the sales documents in German is available free of charge in paper form from the depositary, the management company and online at www.ipconcept.com.
The investment fund is subject to a risk of increased volatility. No assurance can be given that the investment objectives will be achieved. Information on past performance does not allow any conclusions about future performance. In general, every investment carries the risk of capital loss.
Any performance figures shown are net figures. If an investor wishes to purchase units for €1,000, he must pay €1,025 with an issue premium of 2.5%. The investor may incur securities account costs and other costs (e.g., custody or safekeeping costs), which reduce the performance. The tax treatment depends on the individual circumstances of each investor. An investment is associated with risks. For detailed information on opportunities and risks, please refer to the current sales documents.
The management company may decide to discontinue the arrangements it has made for the distribution of the units of its collective investment undertakings in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU. Further information on investor rights in German can be found on the management company’s website at https://www.ipconcept.com/ipc/de/anlegerinformation.html.
Information on sustainability-related aspects in accordance with EU Regulation 2019/2088 can be found at https://www.ipconcept.com/fs/getdata.php?m=getDoc&id=PSzBxMfcvdrEWZnOaY56.