The Clap
CI Asset Management, one of CI Capital’s (CICH) subsidiaries, launched the investment fund “Misr Equity”, and plans to establish 3 other funds in 2023.
The Deets
Amr Abol-Enein, CEO of CI Asset Management, said that the “Misr Equity” fund is the company’s first fund and the company plans to make it one of the top 10 Egyptian funds for investing in stocks.
Misr Equity will direct 90% of its assets to invest in stocks, and the other 10% will be directed to other investments such as treasury bills and bonds.
Why this Matters
Abol-Enein said that despite the fluctuating performance of the EGX, it remains one of the top emerging markets.
