Egypt’s Arab African Investment eyes $508mln in AUMs during 2019
Egypt’s Asset management firm, Arab African Investment Management (AAIM) seeks to increase total of assets under management to 8 billion Egyptian pounds ($508.709 million) by the end of 2019, its managing director said.
He told Amwal Al Ghad that the company’s strategy to increase its AUMs is based on number of axes presented in achieving premium financial returns and providing innovative investment products to the Egyptian market.
He also noted that his company is on track to launch a new investment fund, noting that the total value of AUMs increased to 6.7 billion pounds by the end of December 2019.
Arab African Investment Management Company is part of Arab African International Bank (AAIB), a bank in which Egypt’s central bank owns a stake.
He explained that the company’s assets vary between managing 5 funds and financial portfolios, as the company is managing 5 investment funds worth 2.7 billion pounds, in addition to various financial portfolios with a value of 3.9 billion pounds.