Furthermore, Barclays Bank Money Market Fund, which is managed by Beltone Corporation, held assets of EGP 178.05bn. The assets of Islamic funds declined by 3.98% during the first quarter and registered EGP 1.074bn compared to EGP 1.11bn year-on-year. Entry of guard asset funds raised the assets of the capital protection funds by 245%, despite the decline in assets of the fund managed by CI Asset Management by 2.15% during the first quarter. The assets of Pioneers Fund 1, managed by Amwal Financial Investment, rose by 7.9%, recording EGP 9.7m compared to EGP 9.01m. Blom Group Fund, managed by Prime Investment, fell by 5.6% to reach EGP 18.5m compared to EGP 19.6m.

Source: Daily News Egypt May 22, 2017 09:00 UTC