Royal Insurance Egypt Plans to Launch Mutual Fund with EGP50mn

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Royal Insurance Egypt plans holding its extraordinary general assembly by the next month in order to approve launching its first Mutual Fund with EGP50million capital.

In the last month, Royal announced launching Mutual Fund for the cash flow which aims providing ensured Pot and investment savings that provides daily cash.

Royal finalized all the routine procedures regarding issuing the fund, noting that the company is waiting approving the general assembly ,Ahmed Hosny, the Deputy Managing Director Finance illustrated.

It is schedule for the annual general assembly to hold within the first 9 months of this year to approve the finance center for the company, Hosny said.

Insurance expertise explained that it is expected that the coming period will witness a highly demand from the insurance companies to these funds through the cooperation with Investment management firms.