Investment Funds Assets Increased By LE851 M In 2014: EFSA

Head of the Egyptian Financial Supervisory Authority (EFSA) Sherif Sami said on Thursday that four investment funds have been established in 2014; therefore the total amount of investment funds in Egypt is 95.

The total amount of cash in these funds was valued at EGP 6.5bn by the end of 2014, increasing by EGP 851m compared to the previous year, Sami said, expressing his willingness to witness the establishment of the first real estate investment fund in 2015.

Egypt’s government is attempting to activate the secondary market for bonds to create a market for public bonds and offer exchange, following the international capital market systems, Sami added in a statement.

Source: Daily News Egypt