Egypt’s Arab African Investment reaches $269 mln in assets under management

Egypt’s Asset management firm, Arab African Investment Management (AAIM) has increased this year their total of assets under management to 4.8 billion Egyptian pounds ($269 million), its managing director said on Thursday.

Arab African Investment Management Company is part of Arab African International Bank (AAIB), a bank in which Egypt’s central bank owns a stake.

The total assets managed by the company stood at 3.1 billion pounds at the end of December 2017, Mohamed Moustafa said.

“The growth in managed assets, amounting to 1.7 billion pounds, came as a result of the new mandates to manage more financial portfolios,” Moustafa told reporters.