Naeem Holding-Egypt Eyes US$320mn Assets under Management by 2014-End

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Naeem Holding for Investments SAE (NAHO.CA) Managing Director Hazem Kamel revealed that his company is targeting to increase the size of assets under management (AUM) to US$320 million by the end of 2014.

In statements to Amwal Al Ghad Kamel added that it is schedule to achieve this increase through new investment portfolio management for institutions in the Gulf region in addition to meeting the requirements of Capital Market Authority, Abu Dhabi to launch new mutual fund within the next 2 years.

Naeem is managing 3 mutual fund, the first is Naeem Misr Fund with capital ranging between EGP45-EGP50 million, Naeem MENA Growth Fund and MENA Mac Fund.

The current total volume of AUM are ranging between US$230 to US$240 million most of them are in Egyptian and Gulf Stock portfolios and private financial institution, Kamel noted.

The Egyptian market is the main axis for the company’s plans along with some foreign markets that targeted to find in them more investment opportunities by the next years, he added.