Charities invest heavily in micro-finance Triodos fund

Social lender hopes value will reach £100m by 2010

Charities are among the largest investors in a micro-finance fund launched this month by social lender Triodos Bank.

The £20m fund, which will invest in small businesses in developing countries, received 'anchor' investment from voluntary organisations including not-for-profit fund manager CCLA and grant-maker the Waterloo Foundation.

Alex Connor, investor relations manager at Triodos, said there was a lot of interest in the fund from private and charitable investors, and said she hoped it would grow to £100m by 2010.

James Bevan, chief investment officer at CCLA, said that because the economic driver behind micro-finance differed from those of traditional asset classes, it could continue to provide good returns during the recession.

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