News

Egypt’s Misr Capital launches money market fund

Jan 28, 2022 By Nik Pratt
Egyptian poundsEgyptian fund manager Misr Capital has teamed up with local fintech platform Fawry for the launch of a money market fund. The Fawry Yawry investment vehicle will be Egypt’s first fintech-focused MMF, according to Misr Capital. The fund, which has a minimum initial investment ticket of EGP500 (US$31) will be aimed at retail investors. According to Misr Capital CEO and managing director Khalil El Bawab, the alliance with Fawry is in line with its strategy of “developing the Egyptian debt market” and introducing “new investors to the market through innovative products”. Money market funds are still in their relative infancy in Egypt and Fawry Yawry is only the eighth such investment fund to be launched in the country. ©2022 funds global mena

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