Congress Day One, May 25, 2010
8:00
Registration and Breakfast
8:45
Chairman’s Welcome and Opening Remarks
Roger Frank
Managing Partner
i3 Advisors LLC
9:00
KEYNOTE SESSION: The Global Outlook for Microfinance Investment Vehicles (MIV)
Setting the stage for the congress proceedings, this panel of c-level executives from prominent microfinance networks will provide insight into the critical opportunities and challenges facing the global microfinance industry, and offer their predictions on future microfinance investment trends. Topics to be discussed include:
- Evaluating the growth rate and performance of microfinance as an asset class – have microfinance investments performed better than expected during the global economic crisis?
- Determining the impact of Environmental, Social and Governance reporting (ESG) on funds and the double bottom line mission of microfinance
- How is the growth of microfinance benefitting from capital market investment?
- How networks are continuing to add value as opposed to the holding company model
- Future prospects for investments in microfinance
- Choice of investment instruments – debt versus equity
- Private versus public funding
- Fund allocation by region
Susan Clancy
CFO
ACCION
Jacques Attali
President
PlaNet Finance
Brigit Helms
Chief Executive Officer
Unitus
Mary Ellen Iskenderian
President & CEO
Women’s World Banking
Moderator:
Xavier Reille
Lead Microfinance Specialist
CGAP
10:30
Networking and Refreshment Beak
11:00
Integrating Microfinance into the Global Financial System
- Evaluating the evolution of microfinance as an asset class
- Cost of capital
- Market perception
- Risk metrics
- Quantifying the impact of the liquidity crisis on MIVs
- Increased volatility
- Changing yield patterns
- Valuation issues
Ann J. Miles
Managing Director
BlueOrchard Finance USA, Inc.
Asad Mahmood
Managing Director, Global Social Investment Funds
Deutsche Bank
Brad Swanson
Partner
Developing World Markets
Roland Dominicé
Executive Director
Symbiotics
12:00
Raising Capital: Evaluating the Current Mindset of Investors Globally and their Attitude to Microfinance as an Asset Class
- Identifying drivers and barriers for investment in microfinance
- Assessing the rate of economic contraction, currency depreciation, and scarcity of credit in the wake of the global financial crisis
- How have liquidity constraints affected investments in terms of funding, lending and overall sustainability?
- Evaluating investors’ appetite for debt/and or equity investments in MFIs
- Quantifying the increasing interest by institutional investors in microfinance investments
- Which geographic regions are beginning to show increasing interest in microfinance investments?
- Evaluating the expanding role of Developing Financial Institutions (DFIs)
- Understanding fund managers’ criteria for investing in microfinance
- Evaluation
- Due diligence
- Governance
- Environmental, Social and Governance reporting (ESG)
- Client protection principals
Christina Leijonhufvud
Managing Director, Social Finance
J.P. Morgan
Michael Hokenson
Managing Director
Minlam Asset Management
Margot Brandenburg
Associate Director
The Rockefeller Foundation
1:00
Networking Lunch for Speakers and Attendees
2:00
Financing Second-Tier MFIs: Overcoming Limited Access to Attractive Capital
- Addressing the needs of the lesser known tier 2 and tier 3 MFIs that are having major impacts in their respective markets
- How has the financial crisis impacted the portfolio quality and financial performance of second and third tier MFIs?
- Challenges of finding and funding tier 2 and tier 3 MFIs
- Where are they accessing financing for growth?
- Potential solutions for overcoming unbalanced capital distribution
Richard Greenberg
Senior Manager, Micro and SME Finance
Overseas Private Investment Corporation (OPIC)
Sebastien Duquet
CEO
PlaNIS
Mark Van Doesburgh
CEO
TripleJump
3:00
Strategic Financial Risk Management Strategies for MFI/MFBs
- What kinds of risks are being increasingly monitored in microfinance now?
- Refinancing risk
- Exchange rate risk
- Liquidity risk
- Interest rate risk
- Asset quality risk
- Risk of fraud at the local level as MFIs grow
- Quality of corporate governance
- The increased need for transparency and for comfort in the quality of financial and portfolio information provided
- Balance sheet management including concerns about earnings manipulation
- Case studies - successes and failures in MF institution governance
Julie Abrams
President
Microfinance Analytics
Cecelia Beirne
Portfolio Manager
Microvest
Emmanuelle Javoy
CEO
Planet Rating
Jenny A. Hourihan
Chief Financial Officer
Pro Mujer International
4:00
Networking and Refreshment Break
4:30
Managing MFI Political Risk: The Response and Potential of Political Risk Insurance
- Political risks to MFI investments, and how investors view them
- How public sector political risk insurers approach MFI investor needs
- Capabilities of private sector political risk insurers
Panelists:
Loïc De Cannière
Managing Director
Incofin
Ileana M. Boza
Global Head, Business Strategy and Client Development
Multilateral Investment Guarantee Agency (MIGA) (tbc)
Ruth Ann Nicastri
Director, Insurance
Overseas Private Investment Corporation
Anne Marie Thurber
Managing Director
Zurich Surety, Credit and Political Risk
Moderator:
Felton (Mac) Johnston
Advisor, Political Risk and Arbitration
robert wray PLLC
5:30
Achieving the Transformation of an MFI into Regulated Financial Institution without Losing the Original Social Mission
- To what extent does transformation make an MFI a more attractive prospect for investors?
- How could taking deposits alter an MFI as a risk/reward proposition to investors?
- What is the true cost of transformation – how does it impact margins?
- What impact does regulatory compliance have on an institutions’ ability to adhere to and serve its original mission?
- Addressing “mission shift”
- What new risks should be considered for a deposit taking institution and how should they be mitigated?
- A case study – highlighting the experiences and lessons learned by an MFI which underwent transformation
- What problems did they face, how were they overcome and a retrospective look at the risks versus rewards
Adrian Merryman
Chief Executive Officer
Opportunity International
6:00
End of Day One
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