Azimut Egypt manages $38.7mln worth of assets

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Ahmed Abou El-Saad, Head of Regional Asset Management at Azimut Egypt, said that the volume of the assets managed by the company is currently estimated to be EGP 12bn. The volume of Azimut Egypt’s clients increased to 127,000 firms, compared to just 35,000 last year.

He told Daily News Egypt that the AZ-Gold fund has managed to attract about 132,000 clients, boosting its volume to EGP 200m. The fund’s size reached EGP 3.5bn.

Two months ago, Azimut cooperated with Evolve, the first gold fund in Egypt, to raise about EGP 153m.

Abou El-Saad said that the company is considering inaugurating real estate funds though not in the short term. He explained that this year’s plan includes launching another fund whose type he refused to disclose.

He pointed out that Azimut Egypt does not plan to enter into the field of index investment funds given the small size of the local market, compared to the global market where these funds are popular.

He also revealed that during the coming period, an investment fund titled “AZ Invest” will be launched. It will allow investors to open accounts and invest in a variety of funds, completely electronically. He explained that the company will submit the entire document to the concerned authority on Sunday.