Report of the Supervisory Board

The Supervisory Board looks back on a dynamic 2018 marked by a newly energised leadership team, good impact and financial performance, increased organisational effectiveness and the adaptation to a more demanding external environment.

The Supervisory Board is pleased with the organisation’s performance in 2018. While FMO managed to achieve most of its overall impact and financial goals, we did notice fluctuations across the business. FMO outperformed its targets on Energy, Agriculture, Food & Water and Financial Institutions, but underperformed on Private Equity and catalysing. We do appreciate that Private Equity made its intended shift towards more direct investments and that our catalysing efforts attracted significant sums of money from pension funds and insurance companies.