Ehab Rashad, managing director of Mubasher Securities International and board member of Mubasher Securities Portfolio Management, said that the latter is negotiating the management of two private insurance portfolios valued at EGP 460m. Rashad also said that one of the two portfolios belongs to a public institution and is worth EGP 300m, while the other belongs to a private company and is worth EGP 160m. He expects the negotiations between Mubasher and the two parties to be completed before the end of the year, as Mubasher aims to expand in the field of private insurance portfolios. The aim is to increase the volume of the portfolios it manages, especially now that the total volume of the insurance portfolios in the local market has exceeded EGP 53bn. Rashad said that Mubasher Securities Portfolio Management held a general assembly meeting three weeks ago in which it adopted adding the fund management services.

Source: Daily News Egypt October 15, 2016 15:45 UTC