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Benchmarking Equity Investment in Microfinance: The Vintage 2007 Results
Measuring changes in shareholder value of MFIs
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This note summarises highlights and results of the Wall’s Street Advisor Services microfinance Institutions Shareholder Value Index for vintage 2007 investments (WSAS MFI SVIX 2007). WSAS is a consultancy specializing in innovations in financial information services for emerging markets and socially responsible investing.
The 2007 index contains investor vintages of 27 MFIs from 15 countries. The following are the highlights of the results including the 2007 vintage:
- The MFI SVIX 2007 represented the single largest vintage of the WSAS MFI SVIX Composite’s shareholder value at the end of 2006 at 48%, but declined to 12% at the end of 2007;
- Overall Composite index’s results declined to a 4-year compound annual growth rate of almost 24%;
- At the end of 2008, the Composite consisted of 86 investor vintages from 61 MFIs in 34 countries.
The note states that the addition of the 2007 results is significant since it introduces to the Composite some major events such as initial public offerings, capital expansions and trade sales.
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