The first annual conference addressing the role of Mutual Funds towards Egypt’s economy has just kicked off in Cairo today.
Under the patronage of Egypt’s Ministry of Trade, Industry and Investment, Egyptian Financial Supervisory Authority (EFSA), Egyptian Exchange (EGX), and Misr Central Clearing, Depository and Registry (MCDR), the first annual conference for Mutual Funds in Egypt will start on Monday, March 31, 2014 in Cairo.
Under the title “Mutual Funds’ Role in Supporting Egypt’s Economy”, the event will be organized by Money Cycle, a specialized company in promoting the economic products/services in a different effective way that ensures success for the product/service and prosperity for the Egyptian economy.
Egypt’s most respected government and business leaders, decision makers, executives and experts will gather for the 1st annual Mutual Fund event, notably the Egyptian Capital Market Association (ECMA), the Egyptian Investment Management Association (EIMA), the Egyptian National Competitiveness Council (ENCC), the Financial Service Institute (FSI) – which is affiliated to Egyptian Financial Supervisory Authority; and CFA Society Egypt.
More than 500 officials from the biggest commercial and investment banks in Egypt as well as securities firms alongside managers of mutual funds, members of capital market societies and investors in the Egyptian market are set to lead comprehensive and insightful sessions.
The ‘Mutual Funds’ event will based on a number of fundamental platforms, including the importance of mutual funds and their types, exploring the investment opportunities and financing mechanisms for such funds, as well as their role in achieving economic development, and supporting the small and medium-sized enterprises (SMEs). Another element to focus on is reviewing the most up-to-date global methods for improving and management the mutual funds so as to ultimately perform their roles in activating the capital market.
The platforms of the event are set to tackle the mutual funds’ role in achieving the economic and social dimension of the coveted development to support the national economy. The event will discuss a proposal to establish a sovereign fund, responsible for running and restructuring the state’s productive assets as pursuant to newly-developed standards, which would improve in return workers and citizens’ conditions. The landmark conference also plans to review the role of the Restructuring Funds in giving hands to the faltering companies.
The platforms will also cover the direct mutual funds’ role and sorts of pressing investments for the current phase i.e. projects in fields of infrastructure, transportation, health and energy. Another axe to stress during the upcoming conference is to trace the major challenges that hinder the work of the direct mutual funds.
Moreover, the conference will highlight the future of the exchange traded funds (ETFs), as being new key tools to develop the market, increase liquidity and draw more investors.
The event is set to shed the light on the mutual funds industry in Egypt in terms of the importance of such funds, exploring new investment opportunities, financing mechanisms, the risks, and the types classified by investment policy i.e. Equity Funds (traditional and Shariah-compliant stocks), Fixed-income Funds, Cash Liquidity Funds, etc.
Furthermore, the event is set to tackle the major challenges and obstacles facing the fund industry in Egypt such as investors’ lack of awareness, high inflation rates and the paucity of substantial biddings in the light of the ongoing political turbulence.
The event will present the newest types of funds to be launched onto the local market such as the Real Estate Funds, ETFs, Private Equity Funds.