Egypt’s Ridge Capital Eyes EGP 400 Mln AUM Volume Increase

Ridge Islamic Capital, a Sharia- compliant investment bank, said it targets increasing its total volume of the assets under management (AUM) to EGP 400 million within the coming four years.

Ahmed Rizkallah, Country Manager of Ridge Islamic, stated that Ridge’s current AUM total volume is EGP 50 million which includes Misr Iran Development Bank Fund of EGP 30 million alongside some other assets and investment portfolios.

Rizkallah further noted that Ridge plans to boost its AUM volume through launching Islamic funds with an initial capital of $150 million by next year. It also intends to focus on the equity funds and to inject further liquidity for new products.