CI Capital says plans increasing AUMs by 20% this year

Egypt’s investment bank, CI Capital is planning to boost its total assets under management by 20 percent this year, managing director Amr Abol-Enein told Amwal Al Ghad Monday.

CI Capital’s total AUMs are currently worth 10 billion Egyptian pounds (US$1.1 billion), Abol-Enein added.

Investments in equities capture 1.5 billion pounds out of CI Capital’s total AUMs, represented in running four funds and other investment portfolios, he said in an interview with Amwal Al Ghad.

Meanwhile, Abol-Enein said the capital market and fixed-income investments are valued at around 8.5 billion pounds, as the bank currently runs six funds, notably two funds owned by Egypt’s biggest private-run lender, Commercial International Bank (CIB), namely Osoul and Thabat.

CI Capital plans to boost its AUMs by alluring new segments of portfolios owned by some major institutions and government entities, notably private insurance funds, Abol-Enein said.

The Egyptian official also said CI Capital is currently in talks with some Gulf investors, seeking to run their financial portfolios, in bid to benefit from the GCC’s current positive outlook for the Egyptian economy.