growth of the
Triodos Microfinance Fund’s net assets grew by 31.8% to EUR 290.6 million at the end of 2015 (year-end 2014: EUR 220.4 million), while its investment portfolio reached a value of EUR 235.3 million (77.1% of the fund’s total assets). The fund increased the number of its investments to 54 MFIs, eight SME banks, four microfinance holding companies and one investment in a fund, covering 35 countries across Latin America, Asia, Africa, the Middle East and North Africa and Eastern Europe. The financial institutions in the fund’s portfolio reached 13 million loan clients and served 8.5 million savers. In 2015, the return of the euro- denominated institutional share class was 3.3% and the three-year average annual return was 5.5%.