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Desjardins Fund for Inclusive Finance, LP
Canada
Last updated 11 May 2020, by Impactyield.
Fund geography
The Desjardins Fund for Inclusive Finance, LP (DFIF) makes debt and equity investments in institutions that provide financial services to the underbanked primarily in Africa, Asia, and Latin America to develop and stabilize communities with little to no access to financial institutions.
More than half of adults in the poorest 40 percent of households in developing countries remain unbanked. bring financial stability to communities lacking financial DFIF is a microfinance investment vehicle launched in 2011 and managed by FONIDI Management inc., DID’s investment subsidiary. The fund offers debt and equity financing to inclusive finance (microfinance) institutions in developing countries.
DFIF's mission is to offer Canadian institutional investors who share our vision the opportunity to support MFIs in developing countries while earning a reasonable return. Doing so, investors can support the growth of local institutions providing financial services to the underbanked and also encourage best-practice investment sourcing and selection processes.
The fund works with local microfinance institutions offering quality financial services to their communities, leading to a high social and economic impact. Supporting local ownership is key to improving the quality of financial services and helps entrepreneurs grow their businesses, increase revenues and create jobs. DFIF also contributes to strengthening the governance of investees.
Asset class
Fund status
Fund style
Not listed
Financial description
Closed fund offering of debt and equity instruments.
13 years
of track record
2011
the year funded
n.a.
AUM
Interested in this fund?
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Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Impact Category
Key performance indicators
Fund overview
Asset manager: Développement international Desjardins
Product track record: Fund has 13 years of track record
Target IRR: n.a.
Committed Capital: n.a.
Target return category: Risk-adjusted market-rate of return
Fund domicile: Canada
Product status: Closed - still investing
Style/Stage:
Inception year: 2011
Vintage year: 2012
Target region: Emerging countries
Target close date: 01/04/2012
Product term: 10
Assets under management: n.a.
Investment size: Min: 1,000,000; Max: 3,000,000; Avg: 0
Co-investment policy:
Currency of investments: CAD (Canadian Dollar)
Currency for fund / product figures: CAD (Canadian Dollar)
Fund investments to date: 12
Fund investments to date exited or repaid: 2
Management fee: 2.25%
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: DID and external partners
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: n.a.
Phone number: 4188358444.00
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Jessie Greene
Investment Director
Impact Performance
n.a.
Impact thesis
Desjardins Fund for Inclusive Finance seeks to promotes financial inclusion.
By providing permanent access to high quality and affordable financial services such as savings, credit, insurance, money transfers, housing loans and in some cases non-financial services such as business development and financial education, MFI's provide low income households opportunities to engage in income producing activities, smooth expenditures and protect from risks and unforeseen events.
By improving such access to suitable services, we help households improve their lives while spurring economic activity, community development and help entrepreneurs and their families grow.
Fund intends to track IRIS metrics including:
Minority/Previously Excluded Ownership (OI7194)
Code of Ethics (OI1806)
Client Protection Policy (OI4753)
Social Responsibility to Financial Services Clients (OI7783)
Loan Officers Employed (OI2818)
Active Borrowers per Loan Officer (PI9250)
Number of Loans Outstanding (PI1478)
Value of Loans Outstanding (PI7569)
Impact Management
n.a.