Thndr Claps » EGY Claps » Financial Services 💸 » CI Capital plans to launch a gold mutual fund🥇
CI Capital plans to establish a gold mutual fund in the near future to diversify its investment options.
The company submitted the fund’s file to the FRA to obtain the necessary approval.
The new fund will issue certificates that are price-linked to the value of gold.
CI Captial’s parent company Banque Misr is expected to participate in the fund immediately following its launch without revealing its target.
Banque Misr had recently announced initial steps to establish the first gold mutual fund in the local market, with the goal of achieving investment returns comparable to gold’s daily price movements.
How does a gold mutual fund work?
It is an investment tool that allows you to invest in gold by offering certificates with specific values & earning a return based on the movement of gold prices.
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