Misr Life Insurance, Misr Capital partner to launch EGP 100m investment fund

Hossam Mounir
3 Min Read

Misr Life Insurance, a subsidiary of Misr Insurance Holding, has partnered with Misr Capital, the investment arm of Banque Misr, have announced the launch of the investment fund Misr Life Insurance for Liquidity in Egyptian Pound.

The fund is set to receive an initial volume of EGP 100m, and serves as Misr Life Insurance’s first investment fund. It can be subscribed to through Misr Capital and Misr Capital Fixed Income Brokerage.

Ahmed Abdelaziz, CEO of Misr Life Insurance, said that the fund is the first investment vessel to be launched by the company in the Egyptian capital market. It aims to provide an investment method for individuals and institutions alike.

He added that the fund’s assets will be invested in highly liquid monetary financial instruments, whether short- or medium-term, such as debt instruments issued by the government and companies. This is in addition to repurchase agreements and other money market fund documents, with average maturities of 150 days.

Abdelaziz pointed out that 2020 witnessed a remarkable growth in terms of the company’s investments. This took place despite the market conditions due to the novel coronavirus (COVID-19) pandemic and the challenges imposed on all companies and sectors as a result.

He noted that the company saw its profits grow to EGP 1.546bn in fiscal year (FY) 2019/20, compared to EGP 1. 310bn in FY 2018/19, reflecting a growth rate of 18%.

Khalil El Bawab, CEO of Misr Capital, said that the competitive advantages of the company being the investment arm of Banque Misr, one of the largest and oldest banks operating in Egypt and Africa, reinforce the company’s position as the largest investment manager in the Egyptian market. This is particularly in terms of its having total assets of more than EGP 30bn. 

He expressed his pleasure at cooperating with Misr Life Insurance, one of the oldest companies in Egypt and the largest life insurance company in the Middle East and North Africa (MENA) region.

El Bawab pointed out that the fund allows individual investors to invest with the aim of maximising returns and providing liquidity through a fund that provides cumulative daily returns. 

It is also managed by a team that has diverse experiences, as well as a strategy that applies the highest standards of governance and risk management, a unique strategy for the asset management sector in the Egyptian market.

Share This Article