NI Capital rolls out new investment fund

The intended issue sums will be invested in liquid financial and short-term instruments

  
A trader works at the Egyptian stock exchange in Cairo, Egypt.

A trader works at the Egyptian stock exchange in Cairo, Egypt.

REUTERS/Mohamed Abd El Ghany

ArabFinance: State-owned investment bank NI Capital launched a liquid mutual fund, dubbed "Seyola," with a targeted portfolio value of EGP 50-100 million, the Planning and Economic Development Ministry said in a January 10th statement.

The intended issue sums will be invested in liquid financial and short-term instruments, including bonds, treasury bills, banking deposits, financing bonds, saving certificates, and other investment funds documents.

NI Capital, established in 2015, acts as an independent financial services company that promotes public-private cooperation and attracting both domestic and foreign expertise.

The investment bank signed in November an agreement with Lebanese Bank Audi to acquire brokerage company Arabeya Online.

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