CBE Approves The Launch Of AIB’s Shield Investment Fund
Published Tuesday, 12 June 2012 13:54 |
Arab Investment Bank (AIB) received the Central Bank of Egypt’s approval on launching Shield investment fund with initial capital of EGP 25 million.
Sources said Shield fund will invest in shares and fixed income instruments, providing 90% capital protection. AIB sent all required documents to the Egyptian Financial Supervisory Authority.
CI Capital Holding will manage the fund which is expected to be launched in August or September.
AIB has three other investment funds which are cash investment fund with daily cumulative return managed by EFG Hermes, sharia-compliant ‘Hilal’ fund, the first investment fund launched after last year’s revolution and is managed by Cairo Funds Management and ‘Sanadi’ fund, launched in the third quarter of last year, managed by HC Securities & Investment and is investing in fixed income instruments.
Most Popular »
- Lafarge says to build waste recycling plant in Egypt
- Eni to build renewable energy projects in Egypt
- Israeli-Egypt crossing renamed after peacemaker Menachem Begin
- Moody’s: Egypt's economic growth 'going forward,' fiscal reform supports B3 rating
- Egypt’s ITIDA partakes in MasterCard 2016 Innovation Forum