Egypt’s Acumen to launch HDB’s property fund in Q1

By Yomna Yasser On Nov 28, 2016

Egypt-based investment bank Acumen Holding has won the management of the Housing and Development Bank’s (HDB) newest real estate mutual fund, chairperson Rana Adawi announced Monday.

“We expect the fund will be launched within the first quarter of 2017,” Adawi said in an economic conference in Cairo.

Acum is seeking to run more equity funds in coming period to achieve an added-valued to its businesses, she added.

Acumen Holding is an Egyptian investment bank established in 2010 with an authorized capital of 200 million pounds and a paid-in capital of 30 million pounds. The company has three subsidiaries: Acumen Asset Management, Acumen Securities and Brokerage, and Acumen Beltone Real Estate Fund Management.