Egypt’s HC to increase assets under management by 20% in H1-2018

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Egyptian investment bank, HC Securities and Investment says it plans to increase its total assets under management by 20 percent before the end of the first half of 2018.

Backed by Egyptian government’s ongoing economic reforms and investors’ optimism, the new plan for business, which currently have 5 billion Egyptian pounds in AuMs, is focused on launching more roadshows locally and globally, HC’s Head of Asset Management Mohamed El Nabarawy said Wednesday.

HC will sign an agreement to manage an investment portfolio for one of the local financial institutions before the end of the current year, El Nabarawy further told Amwal Al Ghad.

HC currently manages 15 mutual funds, including six money market funds, three Islamic funds, three equity funds, and one balanced fund in addition to the recently to win the mandate, NBAD Egypt’s capital protection fund, the official said.