Egypt’s CI Capital plans running two more equity funds this year

Egypt’s investment bank CI Capital is seeking to win the management of two equity funds this year, managing director Amr Abol-Enein told Amwal Al Ghad on Tuesday.

One of the two funds is with an initial capital of 50 million Egyptian pounds ($2.7 million), Abol-Enein said.

This is part of CI Capital’s strategy to boost its volume of assets under management (AUMs) by running new mutual funds in the upcoming period, he added.

CI Capital’s total AUMs stood at worth 8 billion Egyptian pounds by the end of 2016.

CI Capital is currently running six mutual funds, notably two funds owned by Egypt’s biggest private-run lender, Commercial International Bank (CIB), namely Osoul and Thabat.