Subscription To Ahli United Bank’s Alpha Fund Ends On Feb. 24th, 2013

Ahli United Bank announced that the subscription period of its Alpha Fund will end on February 24th, 2013 after it started two months ago.

Sources said the political turmoil has highly affected the volume of subscription of the fund, prompting the bank to extend the subscription period till this month so as to give investors an opportunity to subscribe to the fund.

Alpha fund, managed by Cairo Holding for Financial Investment, has an initial capital of EGP 25 million that may be increased during the subscription period.

The fund is AUB’s second investment fund as it had earlier launched its Wealth (Tharwa) Investment Fund that invests in fixed-income instruments. Subscription to the fund reached EGP 220 million. Wealth Investment Fund is also managed by Cairo Holding for Financial Investment. The subscription period of the fund was only two weeks.

It is worth mentioning that Ahli United Bank has moved its administration to El-Tagamu El-Khames this week and plans to launch five new branches in the current year to reach 33 branches spread across all governorates in Egypt.