In cooperation with Altree Capital, Beltone Financial (BTFH.CA) plans to start the promotional tours of the new mutual fund; Altree Beltone Africa Opportunities Fund by next September in the Gulf alongside the United States.
About the new mutual fund, Wael El Mahgary – Beltone Managing Director, told Amwal Al Ghad that it is an open-ended fund in which the capital has not been defined yet.
“Altree Beltone Africa Opportunities Fund targets investing in the Egyptian, Libyan and North African markets alongside the firms which listed in the global stock markets.” El Mahgary added
He expected that the promotional tours will be beneficial for the new fund amid the political stability in most of the countries where the fund targets investing.
Worth mentioning, Beltone Financial and Altree Capital have announced on Aug 21st the formation of Altree Beltone Capital Ltd., a joint venture focused on delivering investment management and advisory services to local and international investors. Beltone noted that each firm contributes 50% of the new joint venture’s capital; while Altree Capital contributes the rest of the shares.
Altree Beltone Capital will manage equity investments across the region and serve as Investment Manager / Advisor to the Altree Beltone Africa Opportunities Fund and Beltone Gems MENA Equity Fund.
