Maged Shawky: Beltone Eyes AUM Increase, ETFs Activation

Maged Shawky, the Managing Director at Beltone Financial (BTFH.CA), said the firm will be launching promotional tours in a number of the main markets in Europe, Gulf region and the USA. The tours target luring new investment segments as well as increasing the volume of its assets under management (AUM), he stated.

Shawky further noted that Beltone has over $22 billion in funds under management (FUM). The firm plans to boost its FUM within the coming period through starting promotional tours alongside increasing the number of funds by launching two further Islamic funds next year with capitals undefined yet.

Moreover, Shawky emphasized on the necessity of issuing Islamic funds within the coming periods so to take advantage of the Islamic financial instruments, sukuks in particular, which will be adopted soon.

He added that the firm targets reactivating the ETFs (Exchange-Traded Funds) after conducting a number of trials with the Egyptian Exchange (EGX) administration. The firm also aims to launch the draft prospectus for ETFs.