Azimut Egypt Asset Management has launched its first fixed income funds designed for the Eqyptian market.
The new fund will be distributed via private placement with two local banks Banque du Caire and Ahli United Bank appointed as the receiving agents.
In addition, Azimut has contracted investment firms Mubasher, Naeem, Global Invest and Misr Capital as receiving entities by marketing the funds to their clients.
According to managing director, Ahmed Abu Al-Saad, the fund is the first in a series of mutual funds that will be launched in the Egyptian market.
Meanwhile co-CEO Giorgio Medda said the new fund launch is a statement of the group’s belief in “the exceptional investment opportunities available in Egypt”.
The move follows the July launch of the Luxembourg-domiciled Ucits Azimut Egypt Country Fund which is designed to give Egyptian expats and other international investors access to Egyptian equities.
© 2020 funds global mena