The subscription of the Arab Investment Bank's Sanady Fund commenced on Sunday, 18 September 2011. It is an open-end, fixed-income fund with a capital of LE 25 million. Sanady has a minimum subscription of 100 certificates valued at LE 10 and offers semi-annual dividends paid in January and July of each year. There are no redemption or subscription fees. The bank has commissioned the fund management to HC Securities & Investment.
"With its investments being spread between medium and long-term, fixed-income products, Sanady is a safe investment tool for individuals, state-run organizations, private and foreign companies. As it does not trade in stock market shares, Sanady is not associated with much investment risks," said Hussein Choucri, Chairman and Managing Director of HC Securities and Investment.
"Fixed income funds, like Sanady, are the most recommended investment tools amid the current instability of the market. Rises in interest rates provide issuers with the same benefits of the long-term savings certificates and the flexibility of monthly deposits," added Mr Choucri
This culminates HC's 15 years of experience in offering financial services, through which it laid a foundation of trust based on devotion and integrity that are the cornerstone of its business. HC now manages close to 60 financial portfolios for local and international investors in Egypt along with 13 mutual funds.
-Ends-
Benefits of Sanady Fund:
- Sanady does not trade in shares
- It offers weekly buying and monthly redemption
- Regular semi-annual dividends (in January and July)
- HC Securities and Investment, with its prestigious extensive experience in the local and global market, is the manager of the fund
- Sanady has the lowest service fees among mutual funds
About HC Securities and Investment
- HC Securities & Investment (HC) is a leading non-banking financial institution in the Middle East & North Africa region. It offers its clients a wide range of services in Investment Banking, Asset Management, Securities Brokerage, Research and Custody.
- HC has become one of the leading companies enjoying long term, outstanding performance. It has wide regional presence through its own offices and strong alliances in the United Arab Emirates, Syria, and the United Kingdom.
- HC has extensive experience and a variety of different specialties, all executed with a high degree of professionalism. This enables it to strike a balance between the highest global standards and local needs.
- For more information on HC please visit www.hc-si.com or call +202 353 55 999.
© Press Release 2011
