Cairo Capital Not To Start Mutual Fund of $156 Mln On Market Instability
Cairo Capital Group, has mentioned that it will not go through establishing the mutual fund of £ 100 million (around $156 million) due to the state of instability the Egyptian market witnesses nowadays.
The mutual fund was supposed to be established by Cairo Capital Group in cooperation with its British partner King Sterg.
Omar Maghawry, investment director at Cairo Capital Group, said this decision comes amid the state of instability the economic sectors in the Egyptian market witnesses since January 25th revolution.
“The company has offered its apology with its overseas partners for not to go through the establishment of the mutual fund within the current period.” Maghawry added
“The mutual fund was supposed to invest in healthcare real estate (medical real estate) sector but the current atmosphere is inconvenient to start to set up the fund.”
