Our proposition

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A combined objective of investing for both financial returns and development impact

FMO Investment Management provides services to several funds with different market based risk-return profiles accomodating different investor appetites.

All funds serviced by FMO Investment Management share an emerging markets focus and the combined objective of investing for both financial returns and development impact. Below you will find a full overview of the funds we work for. 

At the same time we welcome conversations with qualified institutional investors, exploring where investor demand meets our expertise and FMO's investment strategies. FMO and FMO Investment Management encourage investors to engage in active dialogues on sustainable investment opportunities.

Current Propositions 

Currently all fund propositions serviced by us are private debt funds. The funds participate in FMO loans which may be senior, structured and/or secured; loan terms and conditions are tailored to debt service capacity and to the protection of investors interests.

These fund propositions also offer portfolio diversification as FMO invests in a larger number of countries than the traditional EMD or EM corporate bonds universe. Furthermore, within the emerging markets loans portfolio, correlation tends to be limited.

Returns are less volatile, as the loans are mark-to-model and valuation is a long-term fundamental value, thus not affected by market sentiment-driven price movements.

The advantages of working with us include FMO's:

  • Profitable track record in sustainable investing
  • Over 50 years emerging markets experience
  • Existing deal flow
  • Strong alignment by it's investing for own account
  • Relevant memberships including UN PRI, UN PIIF, GIIN

  • SME Finance Fund


    The Actiam-FMO SME Finance Fund has been providing capital to financial institutions in developing and emerging economies with a clear objective to improve access to finance for SMEs. The fund started investing in 2013. Since 2015 it has been closed for new investors and is not expected to make any further reinvestments. more

  • Emerging Markets Loans Fund I & II


    This Fund offers qualified investors the opportunity to invest in an attractive asset class (private debt) that traditionally has a high barrier to enter. The Fund invests in new FMO loans alongside FMO in its three key sectors. 

    Since the launch in April 2018 the Fund has been able to make > 60 investments.  more

  • FMO Privium Impact Fund


    FMO Investment Management is the Fund Advisor for the FMO Privium Impact Fund.  The Fund has several types of investment classes. As per the end of 2021 the NAV stood at over USD155 mln across 103 investments. 

    More can be found on: www.fmopriviumimpactfund.nl.

  • Green Projects Fund


    The ASN Groenprojectenfonds may invests in a number of FMO’s renewable energy transactions and green lines offered to financial institutions. FMO Investment Management is the investment advisor for these transactions. more

  • New Initiatives

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    Investing with FMO Investment Management involved, offers a profitable learning experience plus the benefits of FMO's proven sustainable investment approach to those investors that are either (or both) keen to learn or outsource parts of their investment portfolio. more

Assets under Advisory

Under Advisory*

Invests in

Financial Institutions

Renewable Energy

Agribusiness, Food & Water

Start of the Fund

Fund Term

Emerging Markets Loans Fund I & II

USD 547 mln




FMO Privium Impact Fund

USD 155 mln




SME Finance Fund

EUR 153.5 mln






ASN Groenprojectenfonds

EUR 100 mln
(20% of fund) 


(green lines)




*As per Dec 2021 (unaudited figures) based on investor commitments, not NAV.