Rasmala Egypt to launch Banque Du Caire’s 5th Fund late 2015

The leading asset management firm, Rasmala Egypt is to launch a new investment fund for Banque Du Caire before the end of 2015, chairman Ahmed Aboul El-Saad announced Sunday.

The new fund will be with a capital of 100 million Egyptian pounds (US$12.8 million), the official told Amwal Al Ghad Sunday.

It is Banque Du Caire’s fifth fund; a balanced that is set to invest in stocks, bonds, and fixed-income instruments.

The leading investment bank Rasmala has offices in the United Arab Emirates, Saudi Arabia, Oman and Egypt and operates in asset management, corporate finance and institutional brokerage.

Meanwhile, Aboul El-Saad added that Rasmala targets a volume of assets under management (AUMs) worth US$3 billion by June 2017, compared to US$1.1 billion recorded in by end of June 2015.

The bank has four investment funds with total business volumes of 3 billion pounds.