Oxfam Novib Fund (ONF) was established in 1998 by Oxfam Novib to support high potential, high-impact microfinance institutions worldwide. ONF seeks out financial intermediaries that focus on underserved markets and target specific groups (rural communities, women borrowers, etc.). These institutions are often still young and small, but they have significant potential. On reaching a certain scale, the financial intermediaries have the potential to graduate or ‘jump’ to other investment funds with a more conservative risk profile. In 2013, three ONF clients made such a ‘jump’ – a testament to ONF’s developmental role. ONF has been shifting its focus towards Africa, to help develop the relatively young and often weak sector in the region.

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  2013 2014 2015
Assets under management EUR 47M EUR 38M EUR 47M
Invested capital EUR 37M EUR 30M EUR 34M
Number of portfolio companies 70 60 50
Average exposure per portfolio company EUR 0.5M EUR 0.5M EUR 0.7M
Distribution by currency

EUR 8% USD 34% Local currency 58%

Portfolio outstanding by instrument

Guarantees .44% Loans 97.55% Subordinate loans 2.01%

Geographic distribution of Oxfam Novib Fund 2015