CI Capital (CICH.CA), the leading group in diversified financial services, announced today the intention of CI Capital Ests Management to launch the first fund that simulates an index compatible with Islamic Sharia as soon as the necessary legislative approvals are obtained.
The fund will be launched as the second fund to simulate Egyptian stock market indices, after the company launched the “Egypt Equity” fund in October 2022, which is the first fund of its kind to simulate the returns of the 30th index of the Egyptian Stock Exchange (EGX30 Capped), by investing in a stock portfolio that aims to closely represent the index. .
The launch of the new fund comes within CI Capital’s plans to launch new investment vehicles that meet the growing needs of investors, whether institutions or individuals, inside and outside Egypt. Amr Abu El-Enein, CEO of CI Investments Management, explained that the company is pursuing a strategy to diversify the range of investment products it offers to clients. While working in parallel to consolidate the company’s leadership in terms of the size of managed assets, the number of funds and portfolios, and the diversity of the product package offered to clients.
He added that the company aims to attract new clients to the Egyptian Stock Exchange after the great success achieved by the “Egypt Equity” Fund, as the company succeeded in concluding strategic partnerships with several recipient entities that rely primarily on financial technology to facilitate clients’ access as much as possible to the Egyptian stock market.
It is noteworthy that CI Capital Asset Management Company ended the year 2023 as the largest asset manager in the Egyptian market in terms of the number of funds, managed portfolios, and size of assets, and was ranked among the 30 largest investment managers in the Middle East. The total volume of managed assets reached 69.5 billion Egyptian pounds by the end of the first quarter of 2024, which is the highest in the Egyptian market. The company was also crowned the best asset manager in Egypt, the Middle East and Africa by many international financial institutions concerned with fund and portfolio management.
