Egyptian investment funds lost EGP 22bn of the size of their assets during the past five years, despite having their numbers increased by 17 funds in the same period. This raises questions about the huge losses in investment fund assets in the same period, as assets declined from EGP 51.4bn at the end of 2011 to EGP 29.3bn at the end of 2016. Net assets of all 95 investment funds currently present in Egypt reached EGP 28.4bn at the end of the first quarter of 2017, which is the lowest record over the past five years. The Egyptian funds market is in a weak competitive position with other neighbouring markets. With the introduction of new types of funds in Egypt recently, such as real estate funds, managers expect the size of the industry to recover.

Source: Daily News Egypt June 03, 2017 15:11 UTC