AUB launches EGP 25 m fund by Q2

Ahli United Bank (AUB) launches a new investment fund whose capital is EGP 25 million, by the beginning of the second quarter of the current fiscal year. The fund, targeting investing in securities, is approved by the Central bank of Egypt, but is still waiting the approval of the Egyptian Financial Supervisory Authority, sources affirmed. Wealth Fund’s public offering will close tomorrow at AUB. Noteworthy that AUB’s Wealth Fund, investing in fixed income instruments, exceeds its EGP 100 million slated initial capital.