Banque Misr to Launch Real Estate and Indices Funds by FY14/15

General Manager and Head of Capital Markets Group at Banque Misr, Susan Hamdy revealed that the bank’s intention to launch two funds one for real estate and the other for indices within the last quarter of 2014.

Hamdy added in a keynote speech at Mutual Funds Role in Supporting Egypt’s Economy , which organized by Money Cycle yesterday that the private capital of funds did not specify till now, noting Banque Misr is going to choose general director for the funds and to consider new regulation which approved by the Egyptian Financial Supervisory Authority (EFSA) for the Mutual Funds.

These funds will not be launched unless Banque Misr will enter EGX70, EGX20 EGX30 and EGX100 mutual indices.

According to the initiative which launched by the Central Bank of Egypt (CBE) to sign an agreement with several banks, Hamdy said the bank will play a prominent role in the secondary bonds market.