Banque Du Caire has reached an advanced stage of talks before choosing one of five investment firms competing to run the bank’s fifth mutual fund, said a source from the bank with knowledge of the talks.
The bank is planning to launch its fifth mutual fund, with a capital of 100 million Egyptian pounds.
Speaking to Amwal Al Ghad on Wednesday, the source added that Banque Du Caire is likely to name the winning investment company to run the fund before the end of the current year.
The source declined to disclose the names of the five investment companies competing to run the bank’s fund.
Banque Du Caire’s fifth fund is balanced, set to invest in stocks, bonds, and fixed-income instruments.