Misr Capital launches first investment fund for CIAF, with initial size of EGP 100 million
Misr Capital, the investment subsidiary of Banque Misr, has announced the launch of the first investment fund for Compagnie FinanciÃ¨re de l’Aviation Civile (CIAF) with an initial size of EGP 100 million which will be subscribed later. through the company and its subsidiary Misr Capital Fixed Income Brokerage.
Khalil El-Bawab, CEO and Managing Director of Misr Capital, said the company continues to focus on its leadership in the asset management industry by continuing to launch investment products tailored to the Egyptian market. This is evident with the launch of four funds since the start of the year, including three for cash liquidity with a cumulative daily return. In addition to the Misr Capital Fund for Investment in Debt Instruments which was created by the company at the beginning of last month. This highlights the competitive elements that Misr Capital enjoys and the fact that it is the investment banking arm of one of the largest and most prestigious banks operating in Egypt and Africa.
He added that the aim of launching this fund is to provide an investment method for individual and institutional investors. The fund’s assets will be invested in short and medium term, highly liquid financial instruments, such as government and corporate debt securities, in addition to sukuk and certificates issued by the Central Bank of Egypt (CBE ), as well as redemption agreements and other documents relating to money market funds.
El-Bawab said the fund allows individual investors to invest with the aim of maximizing returns and providing liquidity through a fund that provides cumulative daily returns. It is managed by experts with diverse backgrounds and a philosophy that applies the highest standards of governance and risk management, as well as a strategy unique to the asset management sector of Misr Capital in the Egyptian market.
Misr Capital has managed to increase its assets under management to over EGP 32 billion, moving closer to its target of EGP 35 billion, as announced.