AUB’s Alpha Fund Is Open For Subscription By August

The Ahli United Bank (AUB) will open its Alpha investment fund, which invests in securities, for subscription by the end of next August.

The fund is managed by Cairo Holding for Financial Investment and is with an initial capital of EGP 25 million, sources said.

AUB postponed launching this fund due to the past political turmoil and the fluctuated performance of the stock exchange in the last period, sources explained.

Apha fund is AUB’s second investment fund after launching its Wealth investment fund that invests in fixed-income instruments. Subscription in the fund reached EGP 220 million. Wealth investment fund is also managed by Cairo Holding for Financial Investment.

Ahli United Bank-Egypt’s profit rose by EGP 31 million, or 19%, registering EGP 195 million in 2011, up from EGP 164 million in 2010.