IFMR Investment Managers Private Limited, the asset management company of IFMR Trust, has received approval from SEBI to launch IFMR FImpact Investment Fund (the Fund), the first scheme under its social venture fund registered under Category 1 of SEBI (AlF) Regulations, 2012. The Fund will focus on providing long term debt funding to high-quality microfinance institutions (MFIs) aimed at deepening financial inclusion in India through investments in long term senior and subordinated debt instruments of such microfinance institutions. IFMR FImpact Investment Fund is the first AIF in India to have a fund rating. It has been rated ‘CARE AA (AIF)’ by CARE Ratings.
Speaking about the approval, Ms. Sucharita Mukherjee, Vice Chairperson of IFMR Trust and Chairperson of IFMR Investments said, “The SEBI approval is a significant step forward for our venture into asset management. This Fund is the first in the series of funds that we plan to launch in financial inclusion. Our subsequent funds will focus on other retail asset classes such as affordable housing and small enterprise financing, furthering our Group’s mission of ensuring complete financial access to every individual and every enterprise.“
Mr. Suchindran, CEO of IFMR Investments added, “We expect good participation from all categories of investors given that the Fund will generate measurable social returns to the end-customer in addition to attractive risk-adjusted financial returns to investors. The Double A Fund rating and the AMC 2 rating of the investment manager also provides significant comfort to investors regarding the quality of the Fund and its underlying portfolio.“