Quarterly Factsheet a Specialised Investment Fund Supported by

Quarterly Factsheet A Specialised Investment Fund Supported by :

June 2014 Oesterreichische Entwicklungsbank AG

PORTFOLIO OF INVESTMENTS

Cumulative Country distribution Portfolio details June 2014 disbursements Portfolio growth Microfinance investment portfolio

Total assets 550 Azerbaijan 73.0 14 % Microfinance investment Microfinance investment portfolio 500 Cambodia 67.6 13 % portfolio USD 511.2 M USD 768.7 M 450 Ecuador 38.7 8 % Short term investments USD 43.9 M 400 Peru 38.5 8 % Total assets USD 555.1 M 350 300 Kyrgyz Republic 38.0 7 % Microfinance portfolio as a % of total assets 92.1 % 250 Tajikistan 32.7 7 %

200 Equivalent USD M Total net asset value USD 440.7 M Georgia 32.3 6 % Equivalent USD M 150 Mongolia 30.8 6 % Number of MFIs 84 100 100 Armenia 24.4 5 % Number of loans 164 249 50 Paraguay 20.5 4 % Number of countries 32 34 Others 114.6 22 %

Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14

Regional distribution in % Investment Manager distribution in % Currency distribution in % Microfinance investment portfolio Microfinance investment portfolio - Equivalent USD Total portfolio

MENA responsAbility OTHER 5 % SA 2 % 6 % 154,492,524 XAF 1 % SSA 30 % AZN 1 % 7 % EECA EUR 1 % 51 % EECA : Eastern Europe KHR 2 % and Central Asia KZT 2 % EAP LAC : Latin America PEN 3 % BlueOrchard All investments 13 % and the Caribbean 175,780,762 INR 4 % hedged to USD EAP : East Asia 35 % and the Pacific SSA : Sub-Saharan Africa LAC USD SA : South Asia Cyrano 21 % 81 % MENA : Middle East and 180,936,603 North Africa 35 % Other includes: THB, KZT, MXN, RUB, COP, XOF, ZMW, GHS, XAF 1/4 MICROFINANCE INVESTMENT PORTFOLIO as of 30 June 2014

Currency Portfolio New investment Inv. of Equiv. in Q2 2014 First Last Country Region Name of MFI Mgr. investment USD M USD M % Ptf Disb. Maturity

Albania EECA NOA BO EUR 2.40 0.47% 2012-11 2016-02 Armenia EECA ACBA Credit Agricole Bank CJSC CY USD 15.00 2.93% 2013-11 2016-11 Finca Universal Credit Organization BO USD 0.40 0.08% 2011-10 2014-10 Inecobank Closed Joint-Stock Company CY USD 7.00 1.37% 2012-03 2016-03 SEF International BO AMD 2.02 0.39% 2013-07 2016-03 Azerbaijan EECA AccessBank Closed Joint Stock Company CY USD 25.00 4.89% 2011-10 2016-08 Azercredit rA USD 5.50 1.08% 2012-03 2016-10 DemirBank rA USD 17.00 6.00 3.33% 2012-01 2017-06 Finca Azerbaijan rA USD 17.50 10.00 3.42% 2012-05 2017-05 AZN 5.01 0.98% 2012-10 2015-10 Kredagro rA USD 2.00 0.39% 2013-12 2015-12 TBC Kredit rA USD 1.00 0.20% 2012-08 2014-08 Belarus EECA Belarusian Bank for Small Business rA USD 2.50 0.49% 2012-10 2015-10 Bosnia and Herzegovina EECA Mikrokreditna Organizacjia EKI BO EUR 1.37 0.27% 2012-12 2015-12 Partner Mikrokreditna Fondacija BO EUR 2.74 0.54% 2012-08 2015-08 Cambodia EAP Amret Co Limited CY USD 15.00 3.00 2.93% 2012-02 2017-07 Angkor Mikroheranhvatho Kampuchea Co., Ltd BO KHR 2.97 0.58% 2012-04 2016-03 Hattha Kaksekar BO USD 7.00 1.37% 2013-04 2017-03 THB 0.97 0.19% 2012-08 2014-08 KHR 3.02 0.59% 2012-07 2015-07 Kredit Microfinance rA USD 4.10 0.70 0.80% 2013-08 2016-04 Prasac Microfinance Institution Ltd BO USD 8.25 1.61% 2012-11 2016-01 THB 2.30 0.45% 2013-08 2015-08 Sathapana Limited CY USD 10.00 1.96% 2011-12 2016-06 Thaneakea Phum Cambodia Ltd CY USD 7.00 2.00 1.37% 2012-02 2017-04 Vision Fund Cambodia BO USD 5.00 1.50 0.98% 2013-03 2017-04 KHR 1.99 0.39% 2012-09 2015-09 Cameroon SSA ACEP Cameroun BO XAF 3.13 3.13 0.61% 2014-05 2016-11 Advans Cameroun BO XAF 1.57 0.31% 2013-12 2015-12 Colombia LAC Fundacion Delamujer BO USD 1.67 0.33% 2012-06 2015-06 Fundacion Mundo Mujer Popayan BO COP 0.86 0.17% 2011-12 2014-12 Costa Rica LAC Cooperativa Nacional de Educadores R.L. BO USD 2.25 0.44% 2012-12 2015-12 CRC 1.84 0.36% 2013-12 2016-12 DRC SSA Advans Banque Congo BO USD 0.38 0.07% 2012-12 2014-12 FINCA RD CONGO SARL BO USD 2.00 0.39% 2013-12 2016-06 Ecuador LAC Banco para la Asistencia Comunitaria Finca BO USD 2.00 0.39% 2012-10 2014-10 Banco Pichincha rA USD 10.00 1.96% 2013-07 2017-07 Banco Solidario rA USD 12.00 2.35% 2013-05 2016-07 PROCREDIT ECUADOR BO USD 14.72 2.88% 2013-07 2018-07 Georgia EECA JSC Bank Constanta rA USD 5.00 0.98% 2011-07 2015-10 JSC Finca Bank Georgia BO USD 7.25 1.42% 2012-12 2016-07 LLC Microfinance Organization Credo rA USD 8.00 1.56% 2012-03 2016-05 Procredit Georgia BO USD 10.00 1.96% 2011-12 2014-12 TBC Leasing rA USD 2.00 0.39% 2013-04 2016-04 India SA Janalakshmi Financial Sevices Private Ltd BO INR 4.99 0.98% 2012-12 2014-12 Satin Creditcare Network Ltd BO INR 4.16 0.81% 2012-12 2014-12 Singhivi Investment & FinancePrivate Limited BO INR 4.66 0.91% 2013-01 2015-01 SURYODAY MICROFINANCE PRIVATE LIMITED BO INR 3.33 3.33 0.65% 2014-06 2015-12 Utkarsh Micro Finance Private Limited BO INR 2.66 0.52% 2013-08 2015-02

Region : EECA - Eastern Europe and Central Asia / LAC : Latin America and the Caribbean / EAP : East Asia and the Pacific / SSA : Sub-Saharan Africa / SA : South Asia Investment Manager : BO - BlueOrchard / CY - Cyrano / rA - responsAbility 2/4 MICROFINANCE INVESTMENT PORTFOLIO as of 30 June 2014 continued from previous page

Currency Portfolio New investment Inv. of Equiv. in Q2 2014 First Last Country Region Name of MFI Mgr. investment USD M USD M % Ptf Disb. Maturity

Ivory Coast SSA Microcred Côte d'Ivoire BO XOF 3.13 3.13 0.61% 2014-06 2016-06 Kazakhstan EECA LLC Microcredit Organization Kazmicrofinance rA KZT 9.46 7.00 1.85% 2012-09 2017-06 Kenya SSA Equity Bank Limited CY USD 15.00 2.93% 2011-09 2014-09 Kyrgyz Republic EECA Finca Microcredit Company rA USD 20.00 5.00 3.91% 2013-05 2016-04 MCC Mol Bulak Finance LLC CY USD 6.00 1.17% 2011-12 2015-03 MFC Bai Tushum and Partners CJSC CY USD 6.00 1.17% 2012-02 2015-02 MFC Kompanion BO USD 6.00 1.17% 2011-10 2016-10 Mexico LAC FINANCIERA FINCA BO MXN 2.97 0.58% 2013-04 2015-04 Moldova EECA JV MFO Microinvest LLC BO USD 0.25 0.05% 2012-09 2014-09 ProCredit Bank Moldova BO USD 5.20 1.02% 2012-05 2015-05 Mongolia EECA Khan Bank BO USD 5.83 1.14% 2011-09 2016-06 XACBANK LLC CY USD 25.00 15.00 4.89% 2012-10 2017-05 Morocco MENA Fondation Banque Populaire Pour Le Crédit BO USD 10.00 1.96% 2012-11 2015-11 Nicaragua LAC Fondo de Desarrollo Local BO USD 1.00 0.20% 2012-07 2014-11 Nigeria SSA AB MF Bank Nigeria BO NGN 2.50 2.50 0.49% 2014-06 2017-06 Grooming People for better Livelihood Centre BO NGN 0.71 0.14% 2012-10 2014-10 Paraguay LAC Financiera el Comercio CY USD 3.00 0.59% 2012-10 2015-10 Vision Banco S.A.E.C.A. CY USD 17.50 5.00 3.42% 2012-06 2017-04 Peru LAC Caja Municipal de Ahorro y credito de Arequipa S.A. CY PEN 4.58 0.90% 2012-12 2016-06 Caja Rural de Ahorro y Credito Crédinka S.A. CY USD 5.00 0.98% 2013-02 2017-06 Edpyme Alternativa rA PEN 0.46 0.09% 2013-04 2015-04 Edpyme Raíz BO PEN 2.41 0.47% 2012-01 2014-07 Edpyme Solidaridad y Desarollo BO PEN 0.48 0.09% 2011-11 2014-11 Financiera Creditos Arequipa BO PEN 5.73 1.12% 2012-07 2015-12 Financiera Proempresa S.A. CY USD 2.50 0.49% 2013-10 2017-04 PEN 2.36 0.46% 2013-04 2016-10 MIBANCO, Banco de la Microempresa S.A. CY USD 15.00 2.93% 2011-03 2016-03 Poland EECA Inicjatywa Mikro SP. Z. O. O. BO PLN 1.32 0.26% 2013-11 2014-11 Russia EECA Finca Russia rA RUB 2.46 0.48% 2011-07 2014-07 Senegal SSA Microcred Senegal S.A. BO XOF 1.54 0.30% 2012-05 2015-05 Sri Lanka SA Lolc Micro Credit Limited rA USD 10.00 1.96% 2012-12 2014-12 Tajikistan EECA AccessBank Tajikistan rA USD 3.00 0.59% 2013-05 2015-06 Eskhata Bank BO USD 8.70 4.00 1.70% 2012-05 2017-05 Finca Microcredit Oragnization rA USD 1.50 1.50 0.29% 2014-05 2016-05 Humo and Partners LLC rA USD 2.50 1.75 0.49% 2013-06 2016-06 IMON International rA USD 11.00 8.00 2.15% 2013-02 2017-05 Microcredit Deposit-Taking Organization Arvand LLC BO USD 1.00 0.20% 2013-10 2016-10 Oxus Microfinance rA USD 2.00 1.00 0.39% 2014-01 2016-01 The First Microfinance Bank BO USD 3.00 0.59% 2013-12 2016-12 Tanzania SSA Access Bank Tanzania Ltd BO USD 3.00 0.59% 2013-11 2016-01 Promotion of Rural Initiatives and Development rA USD 0.50 0.10% 2012-09 2014-09 Enterprises Ltd Zambia SSA FINCA ZAMBIA BO ZMW 3.14 0.61% 2013-04 2016-02 Total 511.21 83.54 100.00%

Subscriptions and Commitments Investors

Subscriptions Commitments Notes A Shares B Shares C Shares Private Investor via KfW KfW German Federal Ministry for 75 Deutsche Bank International Finance Economic Cooperation (BMZ) 75 Corporation (IFC) Swedish International 65 65 Development Bank of Development Cooperation Austria (OeEB) Agency (SIDA) European Investment Bank (EIB) Development Bank of Austria (OeEB) 327 OPEC Fund for International Notes 297 Development (OFID) A Shares FMO B Shares

C Shares 77 77

USD 514 million USD 544 million

Investment Managers Disclaimer

BlueOrchard Finance S.A. Cyrano Management S.A. responsAbility Investments AG All rights reserved. This fund is reserved for eligible investors within the meaning of article 2 of the law of 13 February 2007 on specialized investment funds, as amended or supplemented from time to time. Units in this investment fund may not be off ered, 32 rue de Malatrex Calle Bolivar 472, Josefstrasse 59 sold or transferred, directly or indirectly, in the USA or its territories or possessions or areas subject to its jurisdiction, or to citizens or 1201 Geneva office 702, 8005 Zurich residents thereof (‘US Persons’) other than in accordance with the laws of the United States. The information given in this document does not constitute an off er nor a product recommendation, it is provided for individual information purposes only. Switzerland Miraflores, Lima, Peru Switzerland No guarantee is given or intended as to the completeness, timeliness or adequacy of the information provided herein. Tel.: +41 22 596 4777 Tel.: +511 446 8877 Tel.: +41 44 250 99 30 Past performance is no guarantee for future results. The value of the fund and its share classes is calculated without taking into account Fax: +41 22 596 4799 Fax: +511 446 8585 Fax: +41 44 250 99 31 any placement or redemption fees and assuming constant reinvestments of dividends. This is not a fund prospectus as specified by law. E-mail: [email protected] E-mail: [email protected]

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