The SNS Institutional Microfinance Fund

SNS Bank is a Dutch retail bank catering to both companies and individuals. Through its wholly owned subsidiary, ASN Bank, SNS Bank is an indirect shareholder in Triple Jump.

The SNS-IMF

The SNS Institutional Microfinance Fund (SNS IM Fund) offers institutional investors the opportunity to invest in microfinance. Investors in the Fund include pension funds such as the Shell Pension Fund, FNV Pension Fund and Stork Pension Fund. The SNS IM Fund is organized as a Closed Mutual Fund under Dutch law by SNS Asset Management N.V. Triple Jump is a sub-advisor to the fund, for 25% of commitments.

Products and Terms

The SNS IM Fund invests in expanding and mature microfinance institutions (primarily regulated MFIs, financial institutions and commercial banks, but also NGOs). Its areas of operation are Africa, Asia, Eastern Europe and Latin America. The SNS-IMF offers loans (including subordinated debt), guarantees for microfinance portfolio expansion, and equity investments. Although the majority of loans are in Euros or United States Dollars, local currency loans are also possible. The amounts invested range from EUR 500,000 to EUR 10 million.

SNS-IMF portfolio outstanding by region, originated through Triple Jump, December 2009

               SNS IMF - Investments sourced through TJ