Egypt-based investment bank Acumen Holding is planning to launch an equity fund with a capital of 200 million Egyptian pounds ($11.3 million) during the first half of the current year.
Launching the fund comes as part of the company’s strategy aimed to support and increase the volume of the assets under management which reached 1.6 billion pounds by the end of September 2017, chairperson Rana Adawi said.
Acumen has lately captured the management of an insurance fund with capital of 20 million pounds in the frame work of the company’s strategy to diversify its AUMs.
Acumen Holding is an Egyptian investment bank established in 2010 with an authorised capital of 200 million pounds and a paid-in capital of 30 million pounds. The company has three subsidiaries: Acumen Asset Management, Acumen Securities and Brokerage, and Acumen Beltone Real Estate Fund Management.