Egypt’s HC sees 25% assets under management growth by year-end

Egypt’s investment bank HC Securities and Investment seeks to boost its assets under management by 25 percent at the end of the year, senior official said on Tuesday.

HC is managing assets worth more than 6 billion Egyptians pounds ($362 million), head of asset management Mohamed El Nabarawy told Amwal Al Ghad.

The AUMs vary between several investment funds and financial portfolios owned by high net-worth investors and institutions, El Nabarawy said.

HC manages 15 mutual funds owned by 15 banks, including the National Bank of Egypt, Arab Investment Bank, Crédit Agricole – Egypt, Suez Canal Bank, Export Development Bank of Egypt, Misr Iran Development Bank, and Abu Dhabi Islamic Bank-Egypt, he added.