28 September 2009
Rasmala Investment Bank announced the launch of Rasmala Egypt Equity Fund Ltd.
The new fund was launched with the objective of investing in securities of publicly listed companies traded on the exchanges of Egypt. The Fund may also invest in the securities of corporations domiciled in, or with the majority of their operations in Egypt, but are listed on exchanges outside Egypt.
“We think of the Egyptian market as being relatively mature with a long track record. The market is characterized by depth and variety of sectors which helped it remain relatively resilient during the financial crisis” commented Eric Swats, Head of Asset Management at Rasmala Investment Bank Ltd.
“Egypt has maintained its pole position within the Arab Markets since the beginning of the year,” said Ahmad Abouelsaad, Head of Delta Rasmala Asset Management, Egypt. “We believe that the prospects for the Egypt financial market are attractive in the medium term and beyond.”
The Fund will be open for subscriptions on a weekly basis. The minimum investment is $100,000.