Chennai-based IFMR Investment Managers has launched a fund to provide long-term debt funding to high-quality microfinance institutions (MFIs).\r\n
Chennai-based IFMR Investment Managers has launched a fund to provide long-term debt funding to high-quality microfinance institutions (MFIs).
The IFMR FImpact investment fund aims to support MFIs through investments in long-term senior and subordinated debt instruments and thus extend financial inclusion across the country, IFMR said in a release.
IFMR Investment Managers is the asset management company of IFMR Trust Group.
"The launch of the fund is a significant step to start our journey into asset management. AIFs (Alternative Investment Funds) are gaining traction as important investment vehicles and this fund has immense potential to cater to those MFIs that are looking for long term funding alternatives," said Sucharita Mukherjee, Vice Chairperson, IFMR Trust and Chairperson of IFMR Investments.
IFMR FImpact Investment Fund is the first in the series of funds that the company plans to launch in the area of financial inclusion, said Mukherjee.
"Our subsequent funds will focus on other retail asset classes such as affordable housing and small enterprise financing, furthering our Group's mission to ensure complete financial access for every individual and enterprise," she added.