Prime Holding’s Assets under Management Hit EGP3.5 billion

Egypt’s financial service company Prime Holding currently has total assets under management (AUM) of 3.5 billion Egyptian pounds (US$489.5 million), said vice chairman and CEO Mohamed Maher.

Speaking to Amwal Al Ghad on Monday, Maher stated that Prime is running the assets of 11 mutual funds, some banks and insurance firms in addition to a number of financial portfolios for state-owned institutions such as Egypt Post and the Industrial Development Authority (IDA).

Prime is planning to increase its AUM by 10-15% by end of 2015, through running more portfolios and mutual funds, including a new real estate fund, for a number of banks and insurance firms, Maher noted.

Prime Holding for Financial Investments is engaged in providing financial services to governmental bodies and corporations. It offers services such as investment banking, asset management, securities brokerage, investment research, and private equity. The company was founded by Shireen Alkady and Mohamed Maher Mohamed Ali in 1992 and is headquartered in Giza, Egypt.