Naeem Eyes Launch of Two New Funds in Egypt worth EGP250mn

Cairo-based investment house Naeem Holding plans to launch two new mutual funds in Egypt in the coming years after the country fully restores its stability, said managing director Hazem Kamel on Thursday.

Speaking to Amwal Al Ghad, Kamel stated that the two funds would be with initial capitals of 25 million Egyptian pounds for each fund, to be eventually increased to 250 million pounds.

This comes as part of Naeem’s strategy to boost its portfolio of current assets to US$320 million by the end of the current year, through increasing its presence in Gulf markets in the coming period.

Naeem’s current asset management portfolio includes running the Shariah-compliant Naeem Misr Fund in Egypt, in addition to the offshore investment funds in Bahrain Naeem MENA Growth Fund and MENA MAC.