Very High Inflow ASN-Novib Fund

JANUARY 2011 - In 2010, the ASN-Novib Fund attracted an additional EUR 56 million from investors. By the end of 2010, total assets reached almost EUR 180 million. This is a 46% increase compared to 2009, in what was supposed to be a difficult year for the fund in terms of fundraising.

In September 2010, the newly installed Dutch government decided to cut 1.3% of the 2.5% tax credit, which the investors in the so called “Social Ethical Funds” are enjoying. The tax credit is planned to be gradually reduced to 1.2% over a 4-years period.

This decision did not affect investor interest in the ASN-Novib Fund. Most of the Fund's growth took place in the last quarter of the year. One of the reasons may be that the ASN-Novib Fund made a net return of 6.3%, the highest since its inception. Starting the second half of 2010, the microfinance market shows clear signs of recovery and Triple Jump is confident that it can invest the new funds in a responsible way.