Egypt - High-ranking government sources have revealed that several executives have left their positions in the Sovereign Fund of Egypt (TSFE). The sources said to Daily News Egypt that the resigned officials include Abdalla El-Ebiary, Chief Investment Officer; Karim Badr, the executive director of the Egypt Sub-Fund for Utilities and Infrastructure; Hisham Moussa, the executive director of the Egypt Sub-Fund for Health and Drug Services, and Amr Elhamy, the executive director of tourism and real estate investment. Daily News Egypt tried to reach TSFE for comment, with no success. Hala El-Said, Minister of Planning and Economic Development, and Chairperson of the Sovereign Fund of Egypt, revealed last Thursday that the volume of assets managed for the fund amounted to about $12bn, to join the list of the 50 largest sovereign funds. The Sovereign Fund of Egypt joined the list of the 50 largest sovereign funds in the world.
