ADCB Egypt has entered into a strategic partnership with EFG Hermes, a unit of EFG Holding, to launch the bank’s first mutual fund in the Egyptian market, according to an emailed press release.

The lender has appointed EFG Hermes Asset Management to manage its inaugural investment product, which is designed to provide clients with a low-risk, highly liquid investment option.

The ADCB Money Market Fund, Zayed Kol Youm, provides offering daily subscription and redemption features to support efficient cash management and competitive short-term returns. It is designed to meet the evolving financial needs of the bank's customers by providing a flexible and accessible investment vehicle.

The launch backs ADCB Egypt's strategy to diversify its investment offerings, marking the beginning of a broader collaboration between the two institutions.

Meanwhile, ADCB Egypt is working to integrate the fund into its digital banking channels, including its website and mobile application, allowing clients to subscribe and manage their investments seamlessly.

Under this partnership, ADCB Egypt and EFG Hermes seek to explore further opportunities to introduce new funds across various asset classes.

Nabil Moussa, Head of Asset Management Egypt, EFG Hermes, commented: “By combining our asset management expertise with ADCB Egypt’s strong client franchise, we aim to provide a reliable and efficient product that supports clients’ liquidity needs while laying the groundwork for future product development.”

From her side, Rania Hassan, Chief Treasury & Investment Officer at ADCB Egypt, said: “Partnering with EFG Hermes allows us to leverage their proven track record and expertise in managing high-quality investment products. We see this as the beginning of a long-term collaboration, with further opportunities to introduce new investment solutions that cater to our clients’ evolving needs.”

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