MICROCAPITAL BRIEF: Dual Return Vision Fund grants a subordinated loan to Humo for microfinance in Tajikistan

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C-Quadrat Impact Asset Management (IAM), a member of the Austrian investment group C-Quadrat, recently announced that it has disbursed a subordinated loan through its Dual Return Vision Microfinance fund for Micro Deposit Organization (MDO) Humo from Tajikistan. The loan amount is not disclosed.

C-Quadrat IAM disbursed its first loan in Tajikistan from the Vision Funds in 2007 and its first to MDO Humo in 2015. Among MDO Humo’s other donors is the American NGO Kiva, which pools the money. individuals “to expand financial access to help underserved communities thrive.”

MDO Humo provides microloans, deposits, money transfers and financial advisory services to individuals and small businesses. Its loans for consumption, breeding and planting range from 800 TJS (71 USD) to 80,000 TJS (7,065 USD). The microbank serves 73,000 clients, 75 percent of whom live in rural areas. As of June 2021, it had a loan portfolio of TJS 620 million ($ 55 million) and deposits of TJS 168.6 million ($ 15 million).

The Dual Return sub-funds are Vision Microfinance, whose USD and EUR share classes generated one-month returns of 0.14% to 0.23% in August 2021, and Vision Microfinance Local Currency, whose share classes USD and EUR generated returns of 0.85% to 0.97. percent over the same period.

C-Quadrat IAM, which was founded in Vienna in 2006 as Absolute Portfolio Management, “focuses on sustainable investments and microfinance products”. As of December 2020, it presents assets under management totaling 3 billion euros (3.5 billion dollars).

By Arin Atluri, Research Associate

Additional sources and resources

Vision Dual Return Microfinance Report
http://www.c-quadrat.com/report/CAM/Monatsupdate_Allgemein/VMF_Info/EN/J0_VMF_Market_Commentary_082021_EN.pdf

Humo home page
https://www.humo.tj/

Kiva home page
https://www.kiva.org/

Vision Microfinance home page
https://www.visionmicrofinance.com/

C-Quadrat IAM Home Page
https://www.impact-am.eu/

IAM C-Quadrat Description
https://www.impact-am.eu/fr/ entreprise/

C-Quadrat home page
https://www.c-quadrat.com/

Did you know that MicroCapital publishes the MicroCapital Monitor journal every month? To learn more, visit https://www.microcapital.org/products-page/.

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