Symbiotics 2011 MIV Survey Report

This report of the Symbiotics 2011 MIV Survey provides in-depth trend and peer analysis of the microfinance investment vehicle (MIV) market. It includes key data and benchmarks and is based on the CGAP Microfinance Investment Vehicle Disclosure Guidelines.

The survey focuses on financial and social performance and analyzes key market trends and figures as well as benchmarks and peer groups. 70 MIVs responded to the survey out of the 102 MIVs identified. Results indicate that:

• MIV assets year-over-year growth record its lowest rate of 10 percent since survey inception in 2007;
• MIV liquidity is back to a historical average level at 13 percent from 17 percent in 2009;
• Direct Debt Investment has been impacted by adverse market conditions;
• Investments in South Asia and Sub Saharan Africa record the highest growth rate;
• Client Protection Principles (CPP) are well integrated in the investment processes;
• Equity Funds records the highest growth rate and expect an even higher growth rate in 2011;
• Fixed Income Funds are expanding their investments in underserved areas such as Africa;
• Fixed Income and Mixed Funds estimate stable financial performance for 2011.