Egypt’s Pioneers studies launch of two funds in two years

Egypt’s investment bank Pioneers Holding is studying launching new investment funds in the coming two years, its deputy chief executive Yasser Zaki told Amwal Al Ghad on Sunday.

In a bid to boost Pioneers’ asset under management portfolio, the company considers launch of two funds; one to invest in financial investments and another to invest in the country’s real estate sector, Zaki added.

Zaki further said the under-study funds are set to be launched with the participation of major banking and financial institutions in Egypt.

Pioneers specialises in market research and brokerage services but also has investment arms in real estate, industry and financial services. Pioneers currently runs two funds;  Al-Raed, an equity fund with a capital of 50 million Egyptian pounds ($5.6 million), and a real estate direct investment fund of a capital of 126 million pounds ($14.2 million).