Microfinance Market Outlook 2014 - No “sudden stop”: demand for microfinance soars.   This responsAbility study uses a portfolio of 100 microfinance institutions (MFIs) to track the investable microfinance sector from a quantitative perspective.

Volume Growth and Valuation Contraction: Global Microfinance Equity Valuation Survey of 2012 .  Toward the end of 2010, the asset quality of many microfinance institutions began to recover from a crisis of client over-indebtedness and unsustainable growth, but equity valuations continued to decline in 2011 from their peak in 2010.

Trends in Microfinance Investment. (2012).  Microrate defines MIVs and traces foreign investment flow to microfinance institutions.

Discovering Limits – Global Microfinance Valuation Survey 2011 . JPMorgan and CGAP survey provides  benchmarks for valuation of microfinance equity, both private and publicly listed.

Microangels and Microequity: The Missing Ingredients of Microfinance . Research study on a movement of micro-angels (CIGALES) pooling to provide micro-equity, as a necessary ingredient to successful entrepreneurship. (2012).

Microfinance Securitization: Ratings Confusion. (2010) Two pre-eminent ratings companies, CRISIL (a subsidiary of Standard & Poors) and Fitch Ratings have taken diametrically opposing views on the credit quality of microcredit-backed securities.

Foreign Capital Investment in Microfinance: Reassessing Financial and Social Returns . (2011) Despite the financial crisis, in the past four years foreign investment in microfinance, including both debt and equity, has quadrupled to

reach US$13 billion.

Trends in Cross-Border Funding .  CGAP survey describes trends in microfinance funding between 2007 and 2010.

Microfinance investors and donors concerned with rapid growth .  A new survey (2011) by Credit Suisse Microfinance Capacity Building Initiative in collaboration with the Microfinance Communications Council ‘Taking Stock of Microfinance: Perception Survey Among Wealth Holders and Their Advisers in the US, Europe and Asia’.

“The Time is Right for US Institutional Investors” - The microfinance sector’s history of philanthropic support blurs the notion that it is actually a viable commercial investment for US institutional investors.

Impact Investments: An Emerging Asset Class examines impact investments that  create positive impact beyond financial returns.

The Case for Microfinance Loan Pool Securitizations.   (2007).  Loan pool securitization, bundling micro loans made to micro-entrepreneurs and selling them to investors, is an idea that has been bouncing around microfinance for years.

Impact Investments: An Emerging Asset Class examines impact investments that  create positive impact beyond financial returns.

Impact Investing in Emerging Markets . Impact investing seeks profitability combined with social impact; it includes investments in: water, housing, health, and education as well as financial services (microfinance).

Cross-border Funding of Microfinance . (2009).  C ross-border funders reported commitments to microfinance of US$21.3 billion, reflecting a 17% increase (US$3 billion) over 2008 commitments.


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