Scarab Enhanced-Cash Fund

United States of America

Last updated 19 April 2020, by Impactyield.

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Fund geography

Global (48)

Scarab Enhanced-Cash Fund (SECF) is a fund of short duration bond funds that serves as an alternative to traditional money market investment. SECF focuses on poverty alleviation through microfinance lending to entrepreneurs and small to medium size enterprises in developing countries.

The funds in SECF have been chosen to provide liquidity and outperform traditional cash management vehicles. They are also chosen because of their outstanding record of loan repayments. The loans in SECF's funds are "laddered". The laddered approach affords ongoing liquidity derived through the monthly payment of interest and return of principle on maturing notes.


Asset class

,

Fund style

Not listed


Financial description

Q3 2013 Financial Update:
SECF outperformed the 90 day Treasury bill (benchmark) by 1.03% for the quarter. It is not difficult to outperform this benchmark when treasuries are yielding nothing. The underlying investment, MicroVest’s Short Duration Fund continues to be the only investment in SECF with 47% of the cash supporting women entrepreneurs in developing countries. MicroVest has a globally diversified portfolio and only lends money to well established Microfinance Institutions and Small to Medium-sized Enterprises.

10 years

of track record

2012

the year funded

n.a.

AUM

Asset manager

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Increase access to financial services and markets

Fund overview

Asset manager: 3Sisters Sustainable Management

Product track record: Fund has 10 years of track record

Target IRR: 2%

Committed Capital: 2,700,000 USD (US Dollar)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage:

Inception year: 2012

Vintage year: 2012

Target region:

Target close date: n.a.

Product term: Alternative to money market funds/Open-ended

Assets under management: n.a.

Investment size: Min: 100,000; Max: 0; Avg: 0

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 1

Fund investments to date exited or repaid: 0

Management fee: 0.5%

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: No

Limited Partners / Investors: Confidential

Limited Partner / Investor Type: Family Office

Contact

E-mail: butler@3sistersinvest.com bingham@3sistersinvest.com

Website: https://www.3sistersinvest.com/

Phone number: 2155254857 x103

If you wish to have your details removed from this database please email gdpr@impactyield.com


Impact Performance

n.a.

Impact thesis

SECF focuses on investments that promote environmental protection and enhancement, and that work to alleviate poverty and develop community. Investments may be made in social impact bonds, community development banks and credit unions.

Impact Management

n.a.

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