Beltone Targets Current Assets Volume Raise to EGP 32 Bln

Beltone Financial (BTFH.CA) targets raising the total volume of its current assets to EGP 32 billion by the end of 2012 through liquidity funds, fixed income, and financial portfolios.

Alaa Al-Mosallam – Head of Asset Management – said Beltone’s current assets include EGP 10 billion as liquidity funds and fixed income alongside EGP 20 billion as financial portfolios and money market funds.

Mosalam asserted that the total value of Beltone’s direct investments has hit EGP 2 billion noting that the firm targets increase with the coming period.

On Beltone’s money market funds volume, Mosalam added that the company’s Banque Misr Fund (Youm B Youm) value has hit EGP 20 billion; while Arab Bank Fund (Yomaty) has hit EGP 620 million. Additionally, the value of Beltone’s Commercial International Bank (CIB) Fund has hit EGP 4 billion and Banque Du Caire Fund (El Kahera El Yawmi) has hit EGP 2 billion.

Mosalam also noted that Beltone is finalizing the establishment of its National Bank for Development (NBD)’s Islamic fund  alongside conducting other studies so as to start to establish fixed income funds.