Highlights of 2012 can be found throughout this report. Here are some of our key operational achievements:
- We developed an audacious new strategy for the next four-year period. The 2013-2016 strategy aims at FMO becoming the leading impact investor by doubling our impact and halving our footprint by 2020.
- We created FMO Investment Management, a dedicated fund management team that will contribute to our strategic goal of catalyzing one euro for every euro we invest ourselves by 2020.
- We opened a joint office in Johannesburg with DEG, FMO’s only office outside the Netherlands. Through a stronger regional presence we hope to greatly increase efficiency for our shared clients in Southern Africa, better position ourselves to grow our business further in Africa and strengthen our strategic partnership with DEG.
- FMO was rated number 1 on sustainability in a peer group of 24 institutions by highly-respected rating agency Sustainalytics. We received an overall sustainability score of 86 out of 100, significantly above the sector average of 54, and high scores on all three themes rated: environmental, governance and social. We also scored a B, or ‘prime’ rating, with Oekom Research, another sustainability rating agency.
- Our private equity investment level returned to the robust levels of the 2007-2008 pre-crisis period. We realized outstanding results on private equity exits and participated in an exceptional number of direct private equity investments, which were all co-investments with fund managers.
- We maintained our focus on low-income countries. Some 43% of our total portfolio (including Government funds) was committed to these markets at end-2012, versus 44% at end-2011.
- We maintained a diversified portfolio centered around on our three key sectors. Our projects are spread across more than 90 countries and a range of sectors, helping us to substantially mitigate our risks.
- We were ranked ‘Best Employer in the Dutch Financial Sector’ by research company Effectory and publisher VNU Media. The ranking was based on a survey of banks, insurance companies and financial consultants.