Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) approved setting up a new investment fund by NI Capital Holding for Financial Investments under the name, NI Capital with a cumulative periodic return (Equity Fund), to invest in Egyptian and foreign securities listed on the Egyptian Exchange (EGX), particularly in shares.
The newly-established fund is an open investment fund, whose documents are offered by way of public subscription, Ahram Gate reported.
Besides investing in Egyptian and foreign securities listed on the EGX, the fund will further invest in short and medium-term fixed-return instruments, including debt instruments whose credit rating is not less than FRA’s minimum limit acceptable (BBB-) or its equivalent.
Following the approval of the issuance of the fund's documents, the total issuance of funds obtaining a licence from FRA will amount to 139 investment funds with a value totalling EGP 107.60 billion nearly, including 14 funds in 2022.
