Naeem Plans Asset Management, Private Equity Volume Raise In 2016
Naeem Holding (NAHO.CA) said it targets raising the volume of two business lines; asset management and private equity from $500 million to $600 million.
Youssef Medhat El Far, Naeem Holding Managing Director, stated that the volumes of asset management and investment funds have reversely affected during the last four years. He added that the total volume of the two business lines fell from $3 billion in 2006 to eventually reach $500 million for the Egyptian markets alongside its branches in the Arab countries.
El Far attributed such a substantial fall-off to the fact that through the years from 2007 to 2011, Arab stock markets were severely hit by the repercussions of the Arab Spring alongside the Global Financial Crisis.
Therefore, El Far asserted that Naeem targets activating the two lines. The company will be starting a marketing plan by the end of this year on the purpose of activating private equity funds such as Naeem Misr Fund of which the capital amounts to EGP 25 million. The company will start Naeem Misr Fund’s marketing plan in a number of Arab countries, UAE and Saudi Arabia in particular as they witness high demand for the Islamic transactions.
El-Far added that the company will also launch a marketing tour for its MENA MAC fund of which the capital ranges between $10 – 50 million. MENA MAC is an offshore mutual fund in Bahrain. It invests in the Middle East (MENA) markets trading in stocks as well as bonds and commodities particularly in gold, silver and oil so as to achieve substantial returns from the region’s varied sources of investments in their markets.
He also mentioned that Naeem asset management highly depends on the Gulf investors who keen on making investment in Arab markets.
