Amr Abol-Enein, CEO and Managing Director of CI Asset Management (CIAM), the asset management arm of CI Capital, revealed that they aim to increase their asset management portfolio to EGP 50bn by the end of this year. The portfolio exceeded EGP 48.4bn last September. Abol-Enein told Daily News Egypt that the company aims to launch new funds during the next year, following the investment fund “Misr Equity” that tracks equities with cumulative return that was launched earlier this year. He emphasized that the fund is the first of its kind in the Egyptian market, and that is why it attracted investors wishing to achieve returns on a specific type of asset, which is stocks that follow one of the money market indexes. Abol-Enein said that the mergers between the asset management activities of CI Capital and Misr Capital, in a new entity, have reached the final stages.

Source: Daily News Egypt December 11, 2022 21:09 UTC