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Klaus Tichauser


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Klaus Tichauser

  1. 1. responsAbility Social Investments AG<br />From today’s impact to<br />tomorrow’s growth<br />Klaus Tischhauser, Co-Founder and CEO<br />TBLI Conference Europe 2010 London, November 12, 2010<br />
  2. 2. 2<br />responsAbility Social Investments AG<br /><br />How responsAbility defines Impact Investing<br />Multinational Companies<br />Corporate Finance<br />Small & medium<br />enterprises<br />SME Finance<br />Micro-business<br />Microfinance<br />Poorestofthepoor<br />Aid<br />Housing<br />Energy<br />Food<br />Health<br />ITC<br />Finance<br />Water<br />
  3. 3. 3<br />responsAbility Social Investments AG<br /><br />The Poverty Premium„being poor is expensive“<br />New: economic, financial view of poverty<br />=<br /><ul><li>Problem: no access or insufficient, expensive access toservices, goods, information and markets
  4. 4. Poverty premium, the basis for commercial solutions </li></ul> Access to customized solutions for financial services, energy, health, etc.<br />
  5. 5. Impact PotentialsresponsAbility‘sinvestmentthemes<br />Financial services Microfinance <br />Energy  Rural electrification<br />Food/Agriculture  agricultural value chain, Trade, Fair Trade<br />Education  Private schools (Primary/Secondary)<br />Health Use of technology<br />ICT  revolutionary BOP-Business model<br />4<br />responsAbility Social Investments AG<br /><br />
  6. 6. Investment example: responsAbility Ventures I Water efficient and low cost irrigation<br />Company overview<br /><ul><li>Delivering simple, low-cost, highly efficient irrigation solutions to small farmers
  7. 7. Income increase through increased crop yields and water savings
  8. 8. Technology adapted to the needs, environment,</li></ul> affordability and abilities of small farmers<br /><ul><li>Active in India and China
  9. 9. Looking for equity to finance expansion</li></ul>5<br />responsAbility Social Investments AG<br /><br />
  10. 10. 6<br />responsAbility Social Investments AG<br /><br />Investment example: responsAbility Ventures ILow cost primary education<br />Company overview<br /><ul><li>Provision of high quality, low cost primary education at less than 4 USD/month
  11. 11. Company founded in 2007 by three US entrepreneurs, 12 schools as of Q1 2010
  12. 12. Based on a ‘school in a box’-franchising model: local managers operating schools on extremely low-cost, but profitable basis
  13. 13. Access to affordable primary education, higher school enrollment for girls due to low fees</li></li></ul><li>Investment example : responsAbility BOP Investments<br />Company overview<br /><ul><li>Processes milk to produce various dairy products including UHT milk, yoghurt and butter
  14. 14. Based in Mahdia, Tunisia (founded in 1997)
  15. 15. Current market share of 22% (milk), 16% (yoghurt)
  16. 16. Growth rate: ø 20% p.a. (12/07 - 06/10)
  17. 17. Employees: 216 at time of investment (Dec 2006), currently 350
  18. 18. Vitalait is expanding its product of fresh products and develops new product lines (e.g. desserts)
  19. 19. Exit options include sale to an international dairy corporation</li></ul>Production facilities and laboratory of Vitalait<br />7<br />responsAbility Social Investments AG<br /><br />
  20. 20. Investing in Impact attracts investors and pays offDevelopment of Fund Volume and NAV per shareof the responsAbility Global Microfinance Fund<br />8<br />responsAbility Social Investments AG<br /><br />
  21. 21. responsAbility’s range of impact investmentsVarious topics in different asset classes<br />9<br />responsAbility Social Investments AG<br />
  22. 22. responsAbility Social Investments AGGlobal reach of responsAbility<br />responsAbility offices<br />responsAbility investments<br />10<br />responsAbility Social Investments AG<br />
  23. 23. Barriers<br />Transaction cost<br />Regulation<br />11<br />responsAbility Social Investments AG<br /><br />
  24. 24. 12<br />responsAbility Social Investments AG<br /><br />Legaldisclaimer<br />This document was produced by responsAbility Social Investments AG (hereinafter “responsAbility”). The information contained in this document (hereinafter “information”) is based on sources considered to be reliable, but its accuracy and completeness is not guaranteed. The information is subject to change at any time and without obligation to notify the investors. Unless otherwise indicated, all figures are unaudited and are not guaranteed. <br /> <br />Any action derived from this information is always at the investors’ own risk. This document is for information purposes only and not an official confirmation of terms. The value of an investment and any income from it is not guaranteed. Changes in the assumptions may have a substantial impact on the return. Past performance is no indication of current or future performance, and the performance data do not take account of the commissions and costs incurred on the issue and redemption of shares. The information does not release the recipient from making his/her own assessment. In particular, the recipient is advised to assess the information, with the assistance of an advisor if necessary, with regard to its compatibility with his/her own circumstances in view of any legal, regulatory, tax, and other implications. Investments held by the financial product described in this document are associated with a higher risk than investments in more developed markets or countries. <br /> <br />responsAbility and/or the members of its board of directors and employees may hold shares in the financial product (or any related investments) mentioned in this document and may add or sell these positions from time to time. Additionally, the members of the board of directors and employees of responsAbility may serve as members of boards of directors of the investments in which the financial product is invested. <br /> <br />This document is expressly not intended for persons who, due to their nationality or place of residence, are not permitted access to such information under applicable law. <br /> <br />The responsAbility Global Microfinance Fund (hereinafter “Fund”) is a collective investment scheme subject to Luxembourg law, which is authorized to operate in Switzerland as a foreign collective investment scheme with increased risk. The Fund invests its assets in securities with which financial service companies in less developed countries are financed and/or refinanced. Investors are expressly made aware of the risks described in the prospectus and the lower liquidity and greater difficulty in determining the value of the Fund’s investments (which are generally unlisted and not traded), and must also be prepared to accept substantial price losses including the entire loss of their investment. The risks inherent in the Fund cannot be compared with other funds which invest in debt instruments of issuers in developed countries. Units in the Fund should therefore account for only a small portion of an investor’s portfolio and should be held as part of a broadly diversified portfolio. The management company and the investment advisor, however, will seek to minimize the risks by a strict selection of investments and appropriate diversification. The representative of the Fund in Switzerland is Credit Suisse Asset Management Funds, Zurich. The paying agent in Switzerland is Credit Suisse, Zurich. Subscriptions are only valid on the basis of the current sales prospectus and the most recent annual report (or semi-annual report, if this is more recent). The prospectus, the management regulations and the annual and semi-annual reports may be obtained free of charge from Credit Suisse Asset Management Fund Service in Zurich, and from any distribution partner.<br /> <br />This document may not be reproduced, stored in a retrieval system or transmitted, in part or in full, in any form or by any means, whether electronically, mechanically, photocopied, recorded or otherwise, without the prior written consent of responsAbility. Additional information is available upon request. <br /> <br />© Copyright responsAbility Social Investments AG, 2010. All rights reserved.<br />
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