Egypt’s Pharos reaches $254.5 mln in H1 assets under management

Egyptian investment bank Pharos Holding reached 4.55 billion Egyptian pounds ($254.5 million) in assets under management during the first half of the year, its chief executive told Amwal Al Ghad.

The assets managed by Pharos vary between equity and capital protection funds as well as fixed-income instruments, CEO Elwy Taymour said in an interview.

Pharos is one of Egypt’s largest financial institutions, providing investment banking, asset management, securities brokerage, and book-keeping services.

The company, founded in 2005, is 70 percent-owned by the Taymour family, 20 percent by Sheikh Abdulla Al-Rajhy, and 10 percent by employees.